Consumer complaint received 2021-06-09
Company: General Motors Financial Company, Inc.
State: NC
Product: Vehicle loan or lease
Sub-product: Loan
Issue: Struggling to pay your loan
Sub-issue: Loan balance remaining after the vehicle is repossessed and sold

Complaint:
In XXXX, I fell on hard times. I managed to keep up with my car payments despite not having a job for nearly 3 years. In XX/XX/XXXX, my car was repossessed. The day before I was finally offered a job. The only caveat was that it didn't start for another month. I attempted to do everything I could to prevent a repossession. Once it happened, I attempted to pay. I was told that I had to come up with money in a 10 days. I asked for more time, as I had just gotten a job. I got a pay check 3 weeks later. I planned to use ALL of it to get the vehicle back. I was {$200.00} short. I begged for an extension of another 2 weeks or even just a waiver of the {$200.00}. I was told no by everyone I spoke with. Then I was told that the car was going to be auctioned off. I was not told where the auction was being held. That would have given me an opportunity to buy the car. Eventually, the car was auctioned off, according to GM Financial. Fast forward to XX/XX/XXXX. I wanted to resolve the issue. I reached out to GM Financial and spoke with XXXX. I asked her about settling the account and having it removed from the credit reporting agencies. She stated that they do not do that and that I would have to wait for it to " fall off. '' Under the FCRA, reporting to agencies is VOLUNTARY, NOT MANDATORY. She then stated that they delete accounts that have inaccuracies. I pointed out several. The amount owed, was different than the information she stated over the phone to me. Additionally, the loss was written off. GM received their money. Furthermore, the car sold at auction. Additional monies toward the account. She had informed me that the account was old and sent to the XXXX XXXX XXXX XXXX collection agency. Then, she stated that, it was a good thing because they could " offer me a settlement lower '' than GM Financial could. I called XXXX XXXX  XXXX XXXX. I spoke with XXXX XXXX on XX/XX/XXXX. She stated that she could not locate an account with my name. That GM Financial had pulled it back from them. Mrs. XXXX advised me to call GM Financial back. I did immediately. I spoke with someone and explained to her the information that Mrs. XXXX at XXXX XXXX XXXX XXXX had told me. She placed me on hold. I was on hold for about 15 minutes. The call had been transferred and I was connected to XXXX again. She indicated that while I was on hold for so long, she was working out a settlement offer for me. The offer was {$2300.00}. I told her that I could not afford that amount and asked her to send the account back to XXXX XXXX  XXXX XXXX. She stated that she would not do that. 

Several violations of both the Fair Credit Reporting Act and the Fair Debt Collection Practices Act occurred. 

1 ) 15 USC 1692b ( 2 ) 2 ) 15 USC 1692a ( B ) 3 ) 15 USC 1692e ( 2 ) A 4 ) 15 USC 1692f ( 1 ) Failure to Comply With UCC Article 9 5 ) When the repossession occurred, peace was breached. 
6 ) I was not given my personal property from the vehicle.

Company response to consumer: Closed with explanation