Consumer complaint received 2023-07-19
Company: HYUNDAI CAPITAL AMERICA
State: TX
Product: Credit reporting, credit repair services, or other personal consumer reports
Sub-product: Credit reporting
Issue: Problem with a credit reporting company's investigation into an existing problem
Sub-issue: Problem with personal statement of dispute

Complaint:
XXXX XXXX Letter of Explanation of account ( s ) in dispute submitted to credit agencies XX/XX/XXXX The account in dispute is the Hyundai loan from XXXX for a leased car. 

XXXX turned in the Hyundai about 60 or 90 days prior to the end of the 3-year lease. At the time the car was actually turned-in, I tried to pay off the remainder of the balance, but Hyundai told me they would send a final bill for the remaining balance on the lease. Thirty days later, I had not received the final bill so I called them. They indicated that the bill had been sent hardcopy ( via mail ) three weeks prior and the payment was required within ten days of the invoice being issued- hence, the payment was already overdue by approximately a week. 

While on the phone with Hyundai, I explained that I did not receive a paper bill in the mail and also that I had always received and paid our bills electronically. I confirmed payment arrangements and sent the payment via bank transfer - all while still on the phone. I informed the agent that the payment had been made and the call ended. 

Several weeks later, as I was balancing the check book, I noticed that the final payment made to Hyundai had been recently returned to our account, as the recipient had failed to process the transaction.

I called Hyundai again and explained they had failed to process our final payment. Again, I confirmed payment arrangement and made the final payment via bank transfer while still on the phone. 

Several months later ( around XXXX XXXX ), late payments up to 120 days appeared on my credit report. I entered a dispute as it is my opinion that the late payment for the final balance was not due to our oversight or negligence but rather that of Hyundai. In the dispute, I provided copies of our bank statements indicating that the final payment made ( which was one or two days late at the time ) had been returned due to lack of processing. 

I've tried several more times to dispute the late payments on my credit reports and was denied each time by Hyundai. In the past almost 7 years, I've purchase two new cars, got several loans, remortgaged our house, etc. all while having these late payments on my credit reports. I believe that these late payment notices on my credit reports have impacted the interest rates on all of the aforementioned personal business dealings and more. The late payments are still on my credit reports. 

Recently, I became of a lawsuit in which Hyundai settled in XXXX to pay {$19.00} XXXX due to incorrect credit reporting practices to the credit agencies. This has effected my life not only financially but emotionally as well. I would like to be part of this settlement and if my name is not already on the list of the millions of consumers that were affected by this, then I would like to know how I can get my name on the list. 

Lastly, I can provide the original letter that we sent to Hyundai back in XXXX along with our banking statements showing our attempts to pay the outstanding balance of the lease when we turned in the car.

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