Consumer complaint received 2020-08-24
Company: Yamaha Motor Finance Corporation USA
State: TX
Product: Credit reporting, credit repair services, or other personal consumer reports
Sub-product: Credit reporting
Issue: Problem with a credit reporting company's investigation into an existing problem
Sub-issue: Problem with personal statement of dispute

Complaint:
I was never notified by either lender XXXX XXXX  or Yamaha Financial Corporation USA that my loan was being transferred to Yamaha Financial Corporation. They made one attempt to contact me via phone regarding payment but I had no idea who they were and they asked for my SSN, DOB, Name, Address. I refused to provide this information to anyone on an inbound call.

My payments are scheduled through Auto Pay and were sent to XXXX XXXX  After talking to a manager ( today ) he said that they only transferred the payments for 3 months. Again, I was never notified about this policy. After 3 months and while XXXX was still receiving my checks they decided to discontinue transferring my payments and put me in a negative standing. I received 1 notice in the mail regarding late payment and again ignored it due to suspicion of a scam/fraud. After receiving the 2nd notice I called in skeptical to provide my personal information but did  so anyways. 

I spoke with a representative who for the first time explained to me that Yamaha Financial Corporation USA had taken over my loan. I sent in a payment for the 2 months XXXX XXXX did not transfer my payment and paid the upcoming 3rd payment in advance. In 2 years all my payments have been on time. I've attached bank info to demonstrate XXXX continued to receive my payments but just did not process them after XXXX. 

The person I spoke with in XXXX confirmed that my credit would not be damaged due to this. I told the supervisor XXXX ( employee ID XXXX ) to listen to the call and validate what I was told at the time. He told me it would take a while to do this, which is a lie, and I was more than happy to wait on hold. I was misled/lied to by the original collection officer about the negative reporting and a supervisor ( XXXX ( employee ID XXXX ) ) did nothing to fix it. 

I value my credit and have over XXXX on time payments in my history. 

He told me that he would not make any changes to the wrongful reporting because I missed payments. Which is not the case, either XXXX or Yamaha Motor Corporation received every monthly payment since the loan origination. See attachments. He spent more time trying to explain to me what had happened with the merger than it would take listening to the call I had with the previous representative and fixed what they had done to my credit. 

I am very displeased with the communication from Yamaha Motor Corporation USA. They made very little effort to notify me of the change in lender. My payment history defines my ability to make payments online but XXXX did not care a single bit. Continued to say that " packets were sent out ''. Seems odd that I wouldn't receive a single thing about a merger ( new lender ) but received the 1st and 2nd notice without issue about payments not posting.

Company response to consumer: Closed with explanation