Consumer complaint received 2022-02-03
Company: BMW Financial Services NA, LLC
State: OR
Product: Vehicle loan or lease
Sub-product: Loan
Issue: Struggling to pay your loan
Sub-issue: Lender trying to repossess or disable the vehicle

Complaint:
On XX/XX/XXXX XXXX XXXX XXXX stole my car. I went outside and told them they can not take my property and if they did it is a violation pursuant 15 USC 1692e4. 
I told the man that stole my XXXX XXXX XXXX that he was violating my rights as a consumer he did not care, I asked him if he had direct consent from me to communicate with me the consumer pursuant to Pursuant 15 USC 1692ca. He did not which is another violation Pursuant 15 USC 1692ca. I sent XXXX BMW a notice of recissions the Rescission notice is made Pursuant to 12 CFR 1026.23 as I was never told I had 3 days to rescind the transaction nor was I given the notice to rescind forms that come along with all consumer credit transactions. I would like to rescind the transaction, I would like to rescind my signature endorsement ; I participated in a consumer credit contract and not a loan Pursuant to 16 CFR 433.1 ( i ). XXXX BMW has failed to clearly & conspicuously disclose my right to rescind ; Take further notice that Pursuant to 12 CFR 1026.4 the finance charge in connection with any consumer credit transaction shall be determined as the sum of all charges which was never disclosed to me by your organization in direct violation of this law. Also, on 12 CFR 226.18, the Term Finance Charge is the dollar amount the credit will cost you ; Notice that Pursuant to 12 CFR 1026.23 ( d ) ( 1 ) upon receipt of this rescission I am not liable for any finance charge, lease, security interest, etc. becomes void effective immediately. 

Take further notice that 20 days after your receipt of this notice you must return any money, or property given to I the consumer, and also terminate and reflect that termination of the security interest placed on the property which in this case is a XXXX XXXX. 

I also sent power of attorney revocation for this transaction. Now the agent and principal XXXX XXXX has full Power of Attorney over XXXX XXXX and can take any necessary decision if needed. 

BMW Finacial Services has 20 days to return to me the vehicle, also terminate all security interest placed on the vehicle. Return my Title clear and free, all money returned and any adverse information removed from my consumer report. I demand prompt communication and lawful results from you as I am ready to start litigation into this matter. 

I also received a letter from BMW Finacial services threatening me that they are going to sell my property. That is a false and misleading representation and is a violation of 15 USC 1692e4. 15 USC 1692e ( 4 ) says the representation or implication that nonpayment of any debt will result in the arrest or imprisonment of any person or the seizure, garnishment, attachment, or sale of any property or wages of any person unless such action is lawful and the debt collector or creditor intends to take such action. 

XXXX BMW can not sell my property. And they threaten to do so which is harassment and abuse. 

So why did XXXX XXXX XXXX who is a third party steal my car after. I already sent a cease and desist to BMW Finacial services. That is another violation because if they had a cease and desist on my account they can not communicate with me through any mediums unless it is for 1 of these three reasons ( 1 ) to advise the consumer that the debt collectors further efforts are being terminated ; ( 2 ) to notify the consumer that the debt collector or creditor may invoke specified remedies which are ordinarily invoked by such debt collector or creditor; or ( 3 ) where applicable, to notify the consumer that the debt collector or creditor intends to invoke a specified remedy. 

And BMW Financial services did communicate to me through a third party and it was not for any of those reasons. That is a violation pursuant to 15 usc 1692cc. 

BMW financial services communicated with a third party in this case XXXX XXXX XXXX  after I ask them to cease and desist that is a violation pursuant 15 usc 1692cb. 

All parties involved are liable, XXXX BMW that's where the fraud started, BMW financial Services, and XXXX XXXX XXXX stole my property on behalf of BMW financial services . Oh, and how could I forget XXXX, XXXX, and XXXX are liable as well for reporting this account with BMW Financial Services it was a confidential transaction it should be excluded from a consumer report. pursant 15 usc 1681. 

My vehicle being stolen has caused me enormous amounts of stress and mental anguish now causing me not to be able to work and preventing me from providing for my son and impeding on my ability to be a consumer and pay my rent. BMW Financial Services is impeding on my life and my son 's life. And now we are on the verge of homelessness because of XXXX XXXX XXXX, BMW Financial Services, XXXX BMW, XXXX, XXXX and XXXX.

Company response to consumer: Closed with explanation