Consumer complaint received 2018-07-23
Company: HYUNDAI CAPITAL AMERICA
State: CT
Product: Vehicle loan or lease
Sub-product: Lease
Issue: Problems at the end of the loan or lease
Sub-issue: Excess mileage, damage, or wear fees, or other problem after the lease is finished

Complaint:
This is the letter that we had sent to Hyundai Motor Finance-Credit Dispute Center back on XX/XX/XXXX. Please review letter for description of events that had transpired leading up to this complaint : To Whom It May Concern : Today Im writing to request a goodwill adjustment to my credit files.

My son hopes to be attending college this fall, and my wife and I are in the process of applying for a student loan to help pay for his education. To our surprise, the lending company denied our application because of a negative mark on our credit report. We have always had excellent scores and have never had an issue securing credit. Upon further investigation, we discovered that our credit report from XXXX  included an Adverse Account from Hyundai Finance.

The lease agreement for the XXXX XXXX XXXX XXXX that we drove ran from XX/XX/XXXX through XX/XX/XXXX with a total of 36 payments. The first monthly payment was included in the amount due at lease signing. The remaining 35 monthly payments were consistently made on time. And at the end of the lease period the vehicle was returned directly to the dealership on time without issue. 

Some time after returning the vehicle we began receiving calls from XXXX XXXX, a debt collection company. Thinking it must have been some sort of scam, because we knew we were current with all our accounts, we ignored the calls. Then we received a letter from XXXX, dated XX/XX/XXXX. 

When I called XXXX regarding the letter I was stunned with the amount they were collecting, {$2500.00} for mile overage and excessive wear and tear. I immediately contacted the Lease Maturity Team at Hyundai regarding the balance due. My wife and I were under the impression that we had signed the leasing agreement with 14,000 miles per year. We checked our copy of the leasing agreement and, to our surprise, it indicated only 12,000 miles per year. So on XX/XX/XXXX we paid the balance in full via telephone with XXXX XXXX. With the debt paid, XXXX sent us a Release of Debt letter indicating that our account had been satisfied in full. 

To be clear, the Hyundai dealership never told us that we had overages on our mile allotment or that there were additional charges to be paid on our account, and we never received any bill directly from Hyundai Finance. We also never received any notification from Hyundai or XXXX that a late payment would be reported on our credit report as a negative mark. 

Taking into account our 36 months of on-time lease payments and the mitigating circumstances around the additional balance due, Im requesting a goodwill adjustment to our account and hope you will consider my request to have the Adverse Account removed from our credit report. 

Thank you for your time and consideration. We hope your compassionate resolution of this matter will help us secure a bright and productive future for our son.

Company response to consumer: Closed with explanation