Consumer complaint received 2022-01-21
Company: ALLY FINANCIAL INC.
State: NY
Product: Vehicle loan or lease
Sub-product: Loan
Issue: Managing the loan or lease
Sub-issue: Billing problem

Complaint:
I purchased a XXXX XXXX XXXX on a consumer credit contract and i have noticed several billing errors in the Truth-in-Lending disclosures section of the Retail Installment Contract and Security Agreement. Billing errors are defined as, a reflection on a periodic statement of the creditor 's failure to credit properly a payment or other credit issued to the consumer 's account. A reflection on a periodic statement of a computational or similar error of an accounting nature that is made by the creditor and A reflection on a periodic statement of an extension of credit for which the consumer requests additional clarification, including documentary evidence. The first one in regards to my account being the number of payments seems to be inaccurate on the payment Schedule. 16 CFR 433.1 ( d ) which describes a purchase money loan in regards to the truth in lending disclosure is defined as : A cash advance which is received in return for a finance charge within the meaning of the truth in lending act and regulation z, which is applied, in whole or substantial part, to purchase of goods or services from a seller who ( 1 ) refers consumes to the creditor or ( 2 ) is affiliated with the creditor by common control, contract, or business arrangement. Under regulation Z also known as truth-in-lending the itemization of payments should mirror the FINANCE CHARGE amount as it is the dollar amount the credit will cost me. The next billing error can be seen on the amount of credit provided to me or on my behalf. There is no authorized representative other than the appointed attorney-in-fact by the consumer to receive any credits on behalf of the consumer. I am not requesting address or contract validation. I am demanding additional clarification including DOCUMENTARY EVIDENCE of the procedures used to come up with these itemized amounts in accordance with Generally Accepted Accounting Principles ( GAAP ). These billing errors may be assumed to be a willfully intent on misleading and or deceiving me of the character/amount of any debt 15 U.S.C. 1692e. All debt obligations and securities are owed to the United States 18 U.S.C 8. Do NOT hinder nor delay the delivery of the consumer goods associated with the transaction. I hereby accept all title rights and interest and instruct ALLY FINANCIAL INC to handle ALL principles balance. I am not attempting to create controversy I have been seeking remedy and recourse to the fact that I never received full disclosure pertaining to the fitness, performance, and attributes of account, or accounts created from the first initial consumer transaction and now I am merely asking for REAL EVIDENCE. I am aware and it is FACT that i, a consumer, natural person and beneficiary do not need to pay, ALLY FINANCIAL INC can not restrict accelerate or close an account and or make or threaten any adverse reporting to any person about the consumers credit standing without FIRST resolving the billing error. Notice, its is a fact, i am aware while resolving this billing error, ALLY FINANCIAL INC has legally agreed to forfeit ALL rights to collect on the amount in dispute pursuant to 15 U.S. Code 1666 ( e ). In the event ALLY FINANCIAL INC fails to provide said documentation, I DEMAND that all alleged debts be properly recorded and officially acknowledged within your records and any other agencies as non-existent, including but not limited to, all debt collection and/or credit reporting agencies.

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