Consumer complaint received 2021-08-24
Company: PNC Bank N.A.
State: NJ
Product: Credit reporting, credit repair services, or other personal consumer reports
Sub-product: Credit reporting
Issue: Incorrect information on your report
Sub-issue: Account status incorrect

Complaint:
In XXXX I purchased a XXXX XXXX  from XXXX XXXX in XXXX, Pennsylvania. The interest rate was negotiated, and with my excellent credit score, they said the best they could get was 3.77 % from PNC for a 60 month loan. I signed up for the loan and began paying auto payments every XXXX day of the month. 

For two years these auto-payments came out perfectly on time just as they were supposed to. 

On XX/XX/XXXX, I called PNC to inquire about increasing the amount of my auto-payments and what steps I could take to pay a large portion towards the principle to pay the car off sooner. My first child was due to be born in XX/XX/XXXX and I wanted to make sure that these payments were secure. I spoke with PNC representative named XXXX for a substantial amount of time on these topics, and he assured me that I would be able to do this. At no point in my conversation did XXXX express to me that my auto-payments were scheduled to end the following month or guide me in a way that would make it apparent to both of us, since this was the nature of my call. During the call, I was under the impression that everything was handled and I could trust PNC to continue with the auto-payments as they had for two years. 

On XX/XX/XXXX I was alerted by my XXXX credit card app, which tracks my credit score, that my credit had gone down 100 points because of a delinquent car payment. This was a shock to me as I had just been on the phone with them in XXXX, and I believed that these payments would be secure until the maturity of the loan. 

I quickly called PNC to remedy this and tried to find answers. After talking with one representative XXXX who seemed equally confused as to why these payments would end abruptly with no warning. There is no documentation I can find that states XX/XX/XXXX as the end date to my auto-payments. The only alert I received came as a notice of default that was sent by PNC on XX/XX/XXXX. 

I was then escalated to a separate team, where a woman named XXXX XXXX was supposed to help me. Although she could not answer my questions at the time, she said it would take 24hrs to get a full report of my history of payments. She also stated that she would listen to the recorded conversation with XXXX I had leading up to this discontinuation of auto payments. Mrs. XXXX stated that she would call back at XXXX XXXX the following day. I never heard back from Mrs. XXXX after that, and have subsequently been passed through the ranks of escalation retelling my story, and trying to find answers. 

I was eventually passed up to a representative named XXXX XXXX who assured me that this was my mistake. She tried to tell me that I had scheduled the payments to end in XXXX XXXX two years before the maturity of the loan. When I voiced to XXXX that I believed I was being treated unfairly, she quickly ended the conversation by escalating me again to the Executive client relations team. 

I was escalated again to a representative named XXXX XXXX, who helped explain to me that credit bureaus are alerted automatically when their system is alerted that an account has missed a payment. She assured me that PNC can only take back a claim of missed payment when they find a bank error, and in PNCs eyes there has been no error. 

I am claiming that : PNCs date of auto-payment discontinuation was not accurate. 
I was misled to believe these payments would continue through the maturity of the loan. 
I sought assistance in maintaining this car loan, and was misguided by a PNC representative to the detriment of my credit score. 
The only alert I was given came in the form of a Letter of Default which was sent on XX/XX/XXXX. This did not give me adequate time to remedy the situation before my credit score was brought down 100 points.

As a XXXX XXXX, with a XXXX XXXX XXXX, in search of a mortgage to buy a house, this mistake has significantly stifled my ability to obtain a fair and affordable loan. I hope this will document my efforts to rectify an unfair delinquency on my credit report.

Company response to consumer: Closed with explanation