Consumer complaint received 2021-12-03
Company: FORD MOTOR CREDIT CO.
State: TX
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:
On XX/XX/XXXX I purchased a new vehicle from ford motor credit in XXXX, and subsequently moved back to my home state of XXXX in XXXX, properly changing the title and registration to XXXX upon relocation. I made all payments timely towards the loan until the end of XXXX, when my financial situation changed and I was overextended in my XXXX XXXX XXXX. Ford was calling me repeatedly for the payment and I kept advising I was going to remit same as soon as I possible. But, upon calling ford to make a payment in XXXX XXXX XXXXXXXX, where I was 2 months behind on payments, and the payment I called in to remit would have satisfied the XX/XX/XXXX installment due, the Ford representative advised I could not make a payment and that I was in charge-off, and that the only way I could proceed was to return the vehicle or pay the entire amount of the remaining balance in full, over {$8000.00}. In disbelief that my payment attempt was being refused and confused as to why I was being told I was in charge off, as I knew that I was not yet three months late on a payment, nor had any notice been provided to me that charge-off was eminent, I advised her that I would not be able to pay the amount in full and if they would not take my payment I was just going to call them back when I could arrange for the full loan payment. Where Ford had been calling me nearly daily for collection of the debt, I never received another call from Ford again. Ever. The last bill appears to be available in the online account, which I have never been able to log into since that time. Nor did I ever receive another bill from Ford in the mail nor a final billing statement nor any written correspondence whatsoever regarding the debt, the collection of the debt, the charge off, the status of the loan or anything else, ever again. Nor have I been able to log into the online Ford account after that date and access any of my Ford information ever again. I have called Ford many times and been transferred to the collection department that holds my information, but the Ford loan account has been closed and they refused to send me anything in writing even upon giving my address as many times as I have a new one to provide so so that they could remit a written statement to me. They have not attempted to repossess the vehicle and they have never provided a method to make any payment or settle the debt so that I can proceed with disposition of the vehicle as they are still a lien holder on the title. I seek information about where and to whom I can make a payment that will grant me a release of their lien, as Even if I attempt to provide a trade-in on this vehicle to a dealership, the dealership will not be able to remit payment to Ford because the account is closed and I can not even properly pay off the loan where Ford is refusing to provide any Avenue of reasonable resolution. I have attempted to reach out via phone and email so that I can receive the information requested and they have not ever provided me even a method of making a payment because I cant make a payment to a closed account and I have no online access, which account number doesnt even register in their system through their pay by phone option. Essentially they are holding the vehicle title hostage and refused to provide even a reasonable avenue of satisfying their own payment requirement. Meanwhile, the account has been listed as detrimental and charge off for an amount due on my credit report that was not the amount I owed on the vehicle, but even if it was correct I would not be able to qualify the amount with information as Ford refuses to provide me any statement regarding my payments in the account. As well as all of the payments that I had made were not properly reported to the credit bureaus ; where Ford has recently taken the amount due as a loss and for tax purposes I understand that I must report that amount of money as income to me where theyre tax liability will be to remove this amount as an offset, reported as a loss on their business tax filing with the IRS undeXXXX profits/losses. If The vehicle is being reported as a loss to them and I am required to report the vehicle income value of same as income to me, it seems unconscionable that I am simultaneously prevented from actually acquiring the title with a lien that Ford refuses to release and on a debt that they refuse to and have refused to provide a payment option, and if it is written off as bad debt then why is the full amount still on my credit report instead of written off to reflect the tax classification they opted to elect. Even while Suffering the derogatory credit account information Ford holds the title hostage unreasonably and I am denied reasonable access and review without any ability of myself as a consumer to my accesss or review account, the validity of the information, my payments, penalties, the debt, or Reasonable resolution, and in limbo is where I have remained, not fully the owner of the vehicle or capable of making any decision that would satisfy payment, resolve the account or any other avenue of compromise, closure or reasonable conclusion to this issue.

Company response to consumer: Closed with explanation