Consumer complaint received 2023-09-09
Company: HYUNDAI CAPITAL AMERICA
State: GA
Product: Credit reporting or other personal consumer reports
Sub-product: Credit reporting
Issue: Incorrect information on your report
Sub-issue: Account information incorrect

Complaint:
I am writing to dispute the accuracy of the information on my XXXX credit report regarding the account mentioned with HYUNDAI CAPITAL AMERICA. The reported account status as " Account charged off/Never late '' is inaccurate and misleading. I am requesting a thorough investigation to rectify this error. 


I hereby dispute the following : Account Information : Account Name : HYUNDAI CAPITAL AMERICA Account Number XXXX XXXXXXXX Type : Auto Loan Date Opened XXXX XXXXXX/XX/XXXX Date of Status XXXX XXXXXX/XX/XXXX First Reported XXXX XXXXXX/XX/XXXX Responsibility : Joint Status : Account charged off/Never late. {$3800.00} written off. {$3800.00} past due as of XX/XX/XXXX. 


I dispute the accuracy of this account status for the following reasons : Payment History : Contrary to the reported status of " Account charged off/Never late, '' I have consistently made on-time payments as per the terms of the 72-month installment loan. Specifically, in XX/XX/XXXX, I made a payment of {$2900.00}, with the intention of adhering to the regular monthly payments of {$580.00} for the remaining term of the loan. My payment history has been characterized by diligence and punctuality. 


Discrepancies in Account Balance : I have received correspondence from Hyundai Motor Finance ( HMF ) indicating that a settlement payment of {$23000.00} was received from XXXX XXXX on XX/XX/XXXX, which was subsequently applied to my account balance. Additionally, they noted refunds for ancillary product cancellations and other account credits totaling {$3500.00}, resulting in a balance of {$3800.00}. However, I have not received comprehensive information regarding these transactions, and I am concerned that they may have been inaccurately calculated or applied. 


Missing 1099-C Form : Furthermore, I would like to bring to your attention that HYUNDAI CAPITAL AMERICA has failed to provide me with a 1099-C form for the written-off amount of {$3800.00}. This omission is significant as it should result in the reported balance being zero, in accordance with tax regulations. 


I earnestly urge you to take prompt action in updating my credit report to accurately reflect the details of my payment history and resolve the discrepancies presented. Given my consistent record of responsible financial conduct and adherence to the payment schedule outlined in the original agreement, it is crucial that my credit report accurately reflects this information. 


I kindly request that you conduct a thorough investigation into the accuracy of the reported account status, the handling of insurance proceeds and account credits, as well as the missing 1099-C form. As per the Fair Credit Reporting Act ( FCRA ), I understand that you have 30 days to complete this investigation and provide a response.

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