Consumer complaint received 2023-06-22
Company: ALLY FINANCIAL INC.
State: FL
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:
I am writing to address a concerning issue regarding my auto loan and the payment processing that took place on XX/XX/XXXX. On that day, I submitted the correct payoff payment of {$80000.00} through my Ally online account for my new vehicle loan. I received a confirmation email from Ally stating that the payment was successfully scheduled for that date and that Ally had received payment. However, on XX/XX/XXXX, I discovered the payment had not processed back in XXXX. 

On XX/XX/XXXX, I serviced my vehicle at the same dealership where the vehicle was purchased. I went to see the finance manager to see why I had not received my unused gap insurance refund, being I paid off the vehicle. He asked what the date of the payoff was, which I could not recall, so I logged into my Ally online account. I was alarmed to learn that my vehicle was in danger of being repossessed, as indicated by a message on my online account. This news caused me significant anxiety and stress, especially considering the personal, family, health, and work-related items that were in the vehicle. Additionally, upon checking my credit score, it dropped from over XXXX to below XXXX, further compounding the negative impact of this situation. 

Upon realizing this, I immediately contacted Ally to understand the situation. I later discovered that the payment had not been processed due to the removal of my banking information from the account before the payment could be completed at XXXX. The banking information was only removed after Ally e-mailed me the payment received confirmation. 

Payment could not be made on XX/XX/XXXX, because the account was locked out. To rectify the issue, I made two payments totaling {$80000.00} on the morning of XX/XX/XXXX. I spent hours that day repeatedly calling Ally to ensure that my vehicle was no longer at risk of repossession. Eventually, I spoke with XXXX XXXX, a representative who assured me that my vehicle was safe and understood the circumstances surrounding the unprocessed payment. XXXX mentioned that she would add notes to my account to mitigate the negative impact on my credit score and work towards resolving the remaining balance caused by these circumstances. She informed me that someone from escalation would contact me on XX/XX/XXXX, but I never received that call. 

Despite leaving voice messages at the provided number ( XXXX ), I did not receive any callbacks. Today, on XX/XX/XXXX, I am disappointed to see that the matter remains unresolved, and according to the account statement, there is a payment due on XX/XX/XXXX. 

I feel misled by the payment received confirmation email I was sent, which led me to believe that the payment had been received and processed successfully on XX/XX/XXXX. Nowhere in the email was it stated that I should refrain from deleting my bank information until the next day. I had every intention of paying off the vehicle, and I even sought a refund for the unused gap insurance from the dealership finance manager.

This situation has caused me additional financial costs, a negative impact on my credit, and a significant waste of time. While I bear the consequences, it appears that Ally stands to collect wrongful additional fees and interest from me as a consumer.

I kindly request Ally 's immediate attention to this matter and a swift resolution. It is crucial that we rectify the credit score damage, address the outstanding balance, and prevent further negative consequences. I trust that Ally Financial will take the necessary steps to rectify this situation.

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