Consumer complaint received 2020-09-12
Company: HYUNDAI CAPITAL AMERICA
State: CA
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:
My KIA lease was turned in on XX/XX/XXXX. I called immediately after the lease was turned in and I was informed that I was not able to make a payment until the final invoice was issued. 

The final invoice was issued on XX/XX/XXXX. At that time, I had not received an update in regards to the Excess Wear and Tear reimbursement that was due to me ( around {$700.00} that I still have not collected ) so I reached out to KIA for an update and to also inquired about the payment terms of the final invoice. During this phone call, I was assured that there was NO DUE DATE for the final invoice due to COVID 19 and I could to pay the final invoice after I have received an update to the Excess Wear and Tear reimbursement. 

I continued to reach out to Kia a total of XXXX since XXXX. Each time inquiring about the excess wear and tear and also inquiring about payment terms on the final invoice. Each time I spoke with a customer support agent they shared with me that there was NO FINAL DUE DATE for the outstanding invoice due to COVID 19 and one agent even shared with me that they had adjusted the payment to be due in the middle of XXXX. Regardless, I decided to pay the balance due since my wife and I entered into Escrow on our first home purchase. I made multiple payments, two payments were made on XX/XX/XXXX and the last and final payment was made on XX/XX/XXXX. 

Each time I spoke with customer support I stressed that I am in escrow for my home and I need to make sure that my account stayed in good standing - each time they assured me my account was in good standing and they showed that I have an A+ consumer rating on a scale of A-D in their internal system. I never received any notification in writing from KIA that my account was past due or that the payments I made were late, or going to be marked late. I have to stress that I have always been the one who initiated the conversation with the end of the lease and payoff. 

There is NO DOUBT that KIA has violated every required step that protects consumers under the Fair Credit Reporting Act of XXXX. 

The worst part is that I am in the middle of purchasing my very first home and this erroneous late charge has resulted in a 81 point drop in my FICO score. The change to the interest rate because of KIA 's  error will be an increase of $ XXXX/mo to our mortgage. This is detrimental, heartbreaking and unacceptable. 

I have attached a call log breakdown in the documents section of the dates/times that I reached out to KIA ( local dealership for drop off and corporate contact ). The log does not include the 3 most recent calls that were made on XX/XX/XXXX. 

I kindly ask that you PLEASE help me resolve this ASAP. A gentleman I spoke to this evening from KIA finance support ( 15th time I have called ) stated that he was filing a complaint for me but it would take a minimum of 30 days for my complaint to be resolved. I DO NOT have 30 days. As stated multiple times, my escrow is set to close during this time. 

I also want to add that not once in the 4 year lease term was I late on ANY payment.

Company public response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
Company response to consumer: Closed with explanation