Consumer complaint received 2017-07-07
Company: BMW Financial Services NA, LLC
State: CA
Product: Credit reporting, credit repair services, or other personal consumer reports
Sub-product: Credit reporting
Issue: Incorrect information on your report
Sub-issue: Account status incorrect

Complaint:
On XX/XX/XXXX, I received a call from a collection agency stating that I have a balance due on an old lease account with BMW Financial Services. Prior to this date, I had no idea this account had a balance due, because it has been showing " paid by insurance '' on my credit report since XX/XX/XXXX. In XX/XX/XXXX, I was in an accident where my leased BMW was totaled. After the car was declared totaled, I entered into a new lease with BMW. The new lease was contingent on the fact that the old leased vehicle was totaled. Furthermore, BMW Financial assured me that the account was closed and that I no longer owed any payments on the lease for the totaled vehicle.
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I thought this account was settled, but apparently BMW tried to sneak in two extra months of lease payments. I paid BMW Financial a settlement for the remaining two months of payments in XX/XX/XXXX after being told that it was the ONLY way for the debt collector to leave me alone. I had spoken with BMW to update the account to show as current and always paid on time as part of the settlement, and they agreed to update it accordingly. I was never technically late on any payments, because I was told by BMW Financial that they had canceled the lease when the car was totaled in XXXX ( I had also signed a release of liability for the vehicle ).
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Fast forwarding to XX/XX/XXXX, I noticed that the same BMW Financial lease account was showing a negative payment history on my credit report. I disputed the account through the credit bureaus after trying to resolve the issue with BMW Financial. BMW Financial was of no help, which is no surprise, seeing as the entire company is extremely incompetent. After disputing with the credit bureaus, the account is showing different statuses on each of my credit reports. All three credit reports show that I had one or two late payments on the account, which is simply NOT true. After all I went through with BMW Financial, opening a new lease after the accident, contingent on the other leased vehicle being declared totaled, I can not believe that this company is still trying to swindle me. BMW Financial had agreed to report the leased account as paid on time, because it technically was never paid late.
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On my XXXX report, for example, the leased account is showing that it is still delinquent ( 30 days late ). BMW Financial does not even have the decency to report the account as paid and closed. I PAID BMW FOR THE REMAINING LEASE PAYMENTS OWED ON THE ACCOUNT. I do not understand how many times I need to emphasize this fact. I even sent proof of payment to the credit reporting bureaus. The least BMW Financial can do is report that the lease account was paid. The fact that each bureau is reporting three different things is UNACCEPTABLE. BMW 's actions, combined with the credit bureaus lack of due diligence, clearly violates the FCRA. Something needs to be done to correct this wrong, because my credit is suffering as a result of BMW Financial 's incompetence and unwillingness to report information accurately.
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I had no idea that being in a traumatizing car accident would result in so much difficulty on my credit report. Moreover, the fact that BMW used the car totaling as leverage to get me into a new lease, while still reporting the account as open for TWO EXTRA MONTHS, is proof that this company does not follow the law. There is so much more I can say ; however, enough evidence has been provided to show how BMW is inaccurately furnishing information on my credit report. Something needs to be done to correct this wrong.

Company response to consumer: Closed with explanation