Consumer complaint received 2018-06-19
Company: ALLY FINANCIAL INC.
State: NY
Product: Debt collection
Sub-product: Auto debt
Issue: Written notification about debt
Sub-issue: Didn't receive notice of right to dispute

Complaint:
In XX/XX/XXXX, I purchased a vehicle from a XXXX dealer in XXXX Pa. I was given Ally bank as the car loan financer. In XX/XX/XXXX I voluntarily had the car repo 'd because the car was unsafe, and I also found that I was paying a large amount on the car loan in finance charges although at the time of approval my credit was not below average in fact I was able to obtain another vehicle at a lesser cost from another dealer at the time which attest to my credit worthiness. I was up to date on all payments and even sought to refinance the cars loan balance of about {$38000.00}. with the company to which they came back with a new offer of {$700.00} plus dollars a month and an extension of 7 years on the loan. I couldn't quite understand why I was being offered such a gross amount which was no different than my previously monthly payment of about {$850.00} monthly. I returned the car and did not hear back from Ally at all, I did move around a few times however they had my forwarding address on file always, and emergency contact numbers. On or about XX/XX/XXXX, I started seeing a balance of {$8300.00} dollars from Ally bank on my credit report. so from XX/XX/XXXX to XX/XX/XXXX, Ally bank had not contacted me they did not forward me any paperwork about the car being sold at auction, where the auction was held or how much the car sold for, nor had they given me the choice to take on the {$8300.00}, as my own debt and pay the tax on it. I hired a credit repair agency to dispute the debt because I feel that there was some type of shady issues going on with Ally. Upon researching the company further it had come to my knowledge that Ally agreed to a settlement of discrimination during the time period of the time I purchased the vehicle, and they were refunding overcharges in financing that the Federal government had found they were guilty of overcharging XXXX XXXX on interest and splitting the proceeds with car dealers. I feel that I am a victim of this practice, I did not know there was a lawsuit and could not get the administrators of the class action suit on the contact line but I sent them a message to which I have not heard back from them. I feel that because of their breach in Truth In Lending Practices negates me from what they are saying I owe Ally has committed fraud, the fact it took them over a year and a half to contact me on the car so I don't know what the fee 's are, is a violation of my consumer rights and that they should remove this inaccurate information from my report. According to the law : Most states bar creditors from collecting a deficiency balance if they fail to comply with notice requirements ( such as notifying you of the right to cure or of the sale ) or didnt sell the property in a commercially reasonable manner. Ally just wrote me a letter stating I owe money to my address which means they had all information to contact me in writing certified mail of the actions regarding the reselling of the car and my rights as a consumer. Ally bank is a bad institution and I would like to resolve this issue with the discharge of the amount, and the removal of the misinformation on all my reports, and prevent them from providing this debt to debt collectors and ordering all debt collectors to remove this inaccurate information.

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