Consumer complaint received 2018-04-30
Company: M&T BANK CORPORATION
State: PA
Product: Vehicle loan or lease
Sub-product: Loan
Issue: Problems at the end of the loan or lease
Sub-issue: Problem with paying off the loan

Complaint:
In XX/XX/XXXX, my XXXX XXXX was totaled in a hit and run. I was instructed by the finance manager of the dealership that I got the car to not continue car payments to M & T for months after the total loss as it was GAP insurance 's responsibility. My car insurance ( XXXX XXXX ) issued the there payment to M & T in XX/XX/XXXX. GAP insurance was working on the claim and was responsible for the remainder of payments and M & T was aware of that. I have not received any bills, balance remaining statements, breakdowns, final notices, or notifications of the payments made to M & T. I recently was applying for a home loan ( XX/XX/XXXX ) and they had me dispute the M & T loan on my credit report since I knew the balance remaining was not {$12000.00} since GAP paid. After disputing it with each of the credit agencies, on XX/XX/XXXX-XX/XX/XXXX, XXXX, XXXX, and XXXX all updated saying the M & T account was charged off/in collections since XX/XX/XXXX, which I had no notice of. They credit report claims that the amount charged off is {$2500.00}. However, they charged off the amount off {$12000.00}, which, again, was GAP insurance 's responsibility. GAP insurance made their payment on XX/XX/XXXX of {$10000.00}, which is not listed on the credit report either. It states that NO payment have been made since XX/XX/XXXX. Aside from that I was told they couldn't charge off an account if payments had been made, even if it was made by insurance. I, then, didn't receive a remaining balance until XX/XX/XXXX by XXXX XXXX. I've requested a breakdown of these charges from XXXX XXXX, as well, which I have been unable to get from him or anyone else at the company. I've been working with XXXX XXXX, XXXX XXXX, and VP XXXX XXXX routinely since XX/XX/XXXX with no one mentioning this account was charged off. They are aware that I had every intention of paying the remaining amount once all insurance claims were processed. I even offered to pay the balance in full if they would send me a statement of how they got to the remaining balance and for the charge off to be removed from the credit report, as this affected my co-signer 's credit score, too. They denied my request and said although charge-offs can be reversed, they were not going to do so since they feel the bank did nothing wrong. I disagree due the fact that when they charged the account off, I was not forewarned nor had GAP insurance made their payment yet, meaning the financial obligation wasn't mine at that time. I was never offered to set up a payment plan, nor did I receive a final notice. When I finally received my remaining balance on XX/XX/XXXX, I asked for a break down on how they got to that final number, which, again, was denied. They remaining balance does not match what GAP insurance said would be left on the loan nor what I once discussed with XXXX XXXX.

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 non-monetary relief