Consumer complaint received 2023-07-06
Company: ALLY FINANCIAL INC.
State: MI
Product: Vehicle loan or lease
Sub-product: Lease
Issue: Problems at the end of the loan or lease
Sub-issue: Termination fees or other problem when ending the lease early

Complaint:
* Please disregard any prior complaints as I now know the initial reason for the negative information recently placed on my credit report. The reason was disclosed to me yesterday evening via way of this site ( CFPB ) from XXXX @ Ally Financial. I would now like to respond to that as I feel this has been nothing short of a communication gap. 

In XX/XX/XXXX, I took out a XXXX dollar loan from Ally Financial for my XXXX XXXX XXXX XXXX. Since having taken out the loan, nearly 5 years ago, I have not missed a single payment furthermore not even been so much as one day late on a payment. My monthly payment is {$1000.00}. That is why I had a hard time accepting the recent negative reporting on my credit report. Not one person could tell me why the negative reporting until yesterday evening. My credit is very important to me and I take it seriously unlike when I was younger. I am now XXXX XXXX XXXX and my payment history on all of my cards is 100 % This is where the problem lies. In XXXX of XXXX my daughter, XXXX XXXX, took out a lease and I co-signed for her. It was her first step at obtaining credit and I carefully monitored the best I could considering she was away at school. In XX/XX/XXXX, I took out my current loan for the truck I have now as was mentioned above. Also in the XXXX of XXXX, we changed residencies from XXXX XXXX XXXX XXXX to XXXX XXXX XXXX XXXX Mi. Basically just a ten mile move. In XXXX on XXXX, we completed our move however between XXXX and XXXX of XXXX, we were actually living in both residencies with mail arriving at both addresses. I did do a change of address but not sure as to what month that occurred? Amongst the middle of all of this, my daughter had decided to turn in her early lease in XX/XX/XXXX. She was aware that she was over a little more than XXXX miles and was told that would be rolled over into her new lease in the amount of an additional XXXX per month. Just today I received a copy of the WE OWE in which they, the dealership agreed to pay the additional XXXX. Considering the fact my daughter had done well with her 3 year lease and began to establish credit, I was not in any of that transaction being her 2nd lease. As far as I was concerned, it was a done deal. 

Fast forward to XXXX of this year. Since my daughter is away finishing up her XXXX XXXX, I received a bill in the mail with her name on it. I opened it up only to realize it was a collection notice. I had no idea what it was for other than she needed to pay it immediately. I snapped a picture of it, texted it to her and within a couple days, the XXXX was paid off. I found it hard to believe she had ignored XXXX after all of the preaching I had given her regarding her credit. Shorlty after she paid the bill, I started receiving notices that my credit score had dropped some XXXX points. I called Ally and body knew anything. Come to find out yesterday, I was billed the balance being XXXX and I had no idea and never once knew about it. Apparently Ally Financial billed me the XXXX in XXXX of XXXX and again in XXXX of XXXX? I can say with 110 % certainty I never once received the bill. I can also say I never once received a phone call from Ally or any collection company or any email or notice of any kind ever for an attempt to collect XXXX. Prior to this my credit score was nearing XXXX and who would ever thing I would ignore that bill? I simply had no idea nor did my daughter. I am nit disputing that bill however I am saying it came out of no where and was a surprise to both the daughter and I. 
In closing, I have been very upset over this whole ordeal and nobody had any answers until yesterday evening. Besides taking legal action I felt I had but one choice. Yesterday morning I sent letters to Ally CEO XXXX XXXX XXXX, CFO XXXX XXXX XXXX and Chief Compliance Officer XXXX XXXX XXXX. I also emailed XXXX XXXX and XXXX XXXX. At the time I just was asking someone be appointed to tell me what has happened. Now, I know. Up until yesterday, I had only received a voice mail from XXXX XXXX. I had tried reaching out to her but had been unsuccessful. 
That is basically where thus stands. I have been a loyal paying customer to Ally as has my daughter and to think for that I was slapped with a XXXX blemish on my credit report I find very unfortunate. Again, I believe this is merely a lack of communication and I am hopeful Ally will do what is right in the case. 
Thank you in advance for doing what I feel is the appropriate thing to do and that is to remove the charge off from my credit report along with anything pertaining to Ally in hopes of continuing our relationship as I have always thought highly of Ally Financial.

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