Consumer complaint received 2023-08-11
Company: EQUIFAX, INC.
State: FL
Product: Credit reporting, credit repair services, or other personal consumer reports
Sub-product: Credit reporting
Issue: Improper use of your report
Sub-issue: Reporting company used your report improperly

Complaint:
This is XXXX XXXX, I want to apply the laws from The Federal Trade Commission, I have reason to believe that XXXX XXXX XXXX and XXXX XXXX XXXX on the date of XX/XX/XXXX violated provisions of the Federal Trade Commission Act ( FTC Act ), the Truth in Lending Act ( TILA ), and the Consumer Leasing Act ( CLA ) with the retail installment contract I signed purchasing a XXXX XXXX XXXX - XXXX NUMBER XXXX XXXX XXXX XXXX never gave me my truth in lending act disclosure statement. On the date of XX/XX/XXXX, I requested to know if the vehicle I purchased was a retail installment sales contract or agreement? Or a loan? I requested a copy of the Truth-in-Lending Act Disclosure- the salesperson or the finance person never gave me a copy of it. I dont know the loan terms on the vehicle I purchased on XXXX - XXXX - XXXX. I was forced to put down {$15000.00} and this transaction was a consumer credit transaction. No cash should have been involved for me to purchase this vehicle. I requested only to have my credit ran by XXXX XXXX XXXX XXXX XXXX XXXX. XXXX XXXX XXXX XXXX ran my credit with multiple lenders without my permission or knowing. I wanted to know about the Annual Percentage Rate : the APR is the cost of credit expressed as a yearly rate in a percentage ; Finance Charge : cost of credit expressed as a dollar amount ( this is the total amount of interest and certain fees you will pay over the life of the loan if you make every payment when due ) ; Amount Financed : the dollar amount of credit provided to you ( this is normally the amount you are borrowing ) ; Total of Payments : the sum of all the payments that you will have made at the end of the loan ( this includes repayment of the principal amount of the loan plus all of the finance charges. I was never informed. The finance department never explained the truth in lending act statement. I requested for them to explain the terms of my loan. They refused. 
Therefore, the representation set forth by XXXX XXXX XXXX was, and is, false or misleading in violation of ALL Section by the Federal Trade Commission Act ( FTC Act ), the Truth in Lending Act ( TILA ), and the Consumer Leasing Act ( CLA ). 
Each of the following acts or practices is unlawful : ( 1 ) To cause or permit to be advertised, printed, displayed, published, distributed, broadcasted, televised, or disseminated in any manner whatsoever, any statement or representation with regard to the sale, lease, or financing of a vehicle which is false, deceptive, or misleading, including but not limited to the following : ( a ) That no down payment is required in connection with the sale of a vehicle when a down payment is in fact required, or that a vehicle may be purchased for a smaller down payment than is actually required ; ( b ) That a certain percentage of the sale price of a vehicle may be financed when such financing is not offered in a single document evidencing the entire security transaction ; ( c ) That a certain percentage is the amount of the service charge to be charged for financing, without stating whether this percentage charge is a monthly Summary of Complaint : Page 2 of 3 XX/XX/XXXX XXXX XXXX amount or an amount to be charged per year ; ( d ) That a new vehicle will be sold for a certain amount above or below cost without computing cost as the exact amount of the factory invoice on the specific vehicle to be sold ; ( e ) That a vehicle will be sold upon a monthly payment of a certain amount, without including in the statement the number of payments of that same amount which are required to liquidate the unpaid purchase price. 
I'm requesting for XXXX XXXX XXXX and XXXX XXXX XXXX to Refund my {$15000.00} back by XX/XX/XXXX. Remove all hard inquiries off my credit.

Company response to consumer: Closed with explanation