Consumer complaint received 2018-02-20
Company: ALLY FINANCIAL INC.
State: NY
Product: Vehicle loan or lease
Sub-product: Loan
Issue: Managing the loan or lease
Sub-issue: Problem with fees charged

Complaint:
Ok. The issue is that this company has not been charging the amount of interest monthly that it was agreed since the beggining of the loan back in XXXX when it began, so the total amount for the loan was originally for {$27000.00} for a total amount of 72 months at an interest rate of 13.55 %. and I had paid {>= $1,000,000} in total payments and they say that I still so up till this day the say I own {$7000.00} cents, and that I have 14 payments left from a total of 72 payments, from which I had made according to them 58 payments, which is not including the extra {$5100.00} only for principal payments that I had sent to them in separate checks besides my montly payments so that my remaining principal balance can go down, from before doing this extra payments I made sure I called them and I spoke on the phone with the representative and make them assure me that the extra cash payment ( besides my montly payment included on the side ) was only going to go to the remaining principal balance from the car, and they always agreed on the phone that it was all going to go for the remaining balance since I was also paying the monthly loan amount for that time with the interest they charge separate, it was not until later I went and I check my account and I saw that they always took certain amount from my lump sum payments that we agreed on was only to go for principal so when I called to dispute this with them they say that they were sorry for that error and they were going to send a message to the head department and get back at me, which they never did, then I called back again and still, they told me that they charged the interest for the payment in advance for my next payments, so I was like what!!! so I told them basically the do whatever they decide and do whatever they think is the interest or fee charging me for the month. I had noted that they charged back in XXXX XXXX XX/XX/XXXX AND XX/XX/XXXX, more than two months just the entire amount agreed monthly of {$550.00}, THE ENTIRE AMOUNT WAS PUT TO FINANCE CHARGES ONLY AND NOTHING, NOTHING TO MY MONTHLY PRINCIPAL BALANCE! THEN XX/XX/XXXX, THEN XX/XX/XXXX THE THAT SAME YEAR IN THEN XX/XX/XXXX THEY CHARGE {$430.00} ONLY FOR FINANCE CHARGES FOR THEM AND FOR MY BALANCE ONLY {$120.00}, ALSO I NOTICED THAT LETS SAY ONE MONTH THEYLL CHARGE {$300.00} FOR FINANCE, THE NEXT MONTH THEYLL CHARGE {$400.00} AND THE NEXT MONTH LETS SAY {$210.00} FOR EXAMPLE. THEN I MADE BACK IN XX/XX/XXXX A PAYMENT ON {$2500.00}, I HAD SENT TWO SEAPARATE CHECKS ONE FOR {$2000.00} AND ONE FOR THE MONTHLY PAYMENT {$550.00} AND I HAD TOLD THEM AHEAD OF TIME THAT THE {$2000.00} WAS FOR PRINICIPAL ONLY, LIKE THE ALSO ANOTHE TWO MORE LUMP AMOUNT PAYMENTS OF {$2000.00} IN THIS PAST XX/XX/XXXX AND OF {$1100.00} ON XX/XX/XXXX AND ALSO I HAD PAID THE MONTLY AMOUNT FOR THSI REASON THEY WONT TAKE ANY MONEY FROM MY LUMP PAYMENT AND MY REMAINING PRINCIPAL BALANCE WILL GO DOWN AND IT DIDNT BECASUE THEY TOOK {$290.00} FROM THE {$2000.00} AND ONLY PUT TO MY REMAINING BALANCE A TOTAL OF {$1700.00} AND FORM THE {$1100.00}. XXXX CHECK THEY ALSO TOOK FROM THERE THE AMOUNT OF {$260.00} CENTS PUTTING ONLY {$830.00} TO MY REMANING BALANCE, BESIDES ME MAKING AND ALREADY PAYING FOR MY MONTHLY PAYMENT AND THE SUBSEQUENT INTEREST THEY CHARGE MONTHLY. PLEASE BE AWARE ALL THIS WAS DONE IN THE SAME PAST MONTH OF XXXX AND CALLED A FEW TIMES ABOUT THIS ISSUE AND THEY DIDNT RESOLVE IT AND SAID THAT THEY WERE SORRY FOR THAT AND THEY WERE GOING TO FIX IT AND GET BACK AT ME, AND IM STILL WAITING, ALSO I HAD TOLD THEM THAT I NEEDED THEM TO MAIL ME A FULL STATEMENT OF MY MONTHLY PAYMENTS SINCE BEGGINIGN AND GIVING ME RUN AROUDN THEN WHEN I WENT ONLINE I COULDNT ACCESS MY ACCOUNT IN LIKE 2 DAYS AND I WAS NEVER ABLE TO SEE THE SPLIT FEES THEY WERE ALWAYS CHARGING BECAUSE EVERTIME THE SEND ME A PAPER STATEMENT NOTIFICATION OR I WENT ONLINE I WAS NEVER ABLE TO SEE HOW MUCH OF MY MONTHLY AMOUNT I WAS PAYING FOR FINANCE AND PRINCIPAL, THEY NEVER SEND AN ENTIRE DISPLAY OF THE SPLITTING OF HOW MUCH FINANCE I WAS BEING CHARGED PER THAT MONTH ( WHICH THEY CHANGED CONSTANTLY EVERY MONTH THEY DID, IT WAS NEVER A SPECIFIC AMOUNT IT WENT FORM AS LOW AS {$86.00} MONTH TO CHARGING THE ENTIRE MONTLHY AMOUNT OF {$550.00} ONLY TO FINANCE, NOTHING TO PRINCIPAL!!!!! NO WONDER WHY I NEVER GET TO SEE MY LOAN GOING DOWN. SO LETS SAY IF THE TOTAL THAT I WAS SUPPOSED TO PAY THEM FOR 72 MONTHS AT A 13.55 % RATE FOR A LOAN AMOUNT OF {$27000.00}, FROM WHICH I HAD MADE MORE THAN 58 PAYMENTS AND I HAVE 14 PAYMENTS LEFT, I ALREADY PAID ACCORDING TO THEM {$32000.00}, SO I ONLY OWE THEM {$7000.00}, AND IF I ALWAYS PAD MY LOAN EVEYR MONTH, WHERE DID THE LUMP SUMS OF {$5100.00} I HAD PAID SEPARATE BESIDES MY MONTHLY PAYMENT SO MY PRINICIPAL CAN GO DOWN, WHERE DID THAT MONEY GO AND WHY IF I ALREADY MADE 58 PAYMENTS OF {$550.00} BESIDES THE {$5100.00} ( {$2000.00} check, XXXX XXXXcheck and {$1100.00} ), IM STILL OWING THEM THE SAME AMOUNT OF {$7000.00}, SO WHERE DID THE {$5100.00} SEPARATE LUMP SUM PAYMENTS GO.

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