Consumer complaint received 2023-01-13
Company: ALLY FINANCIAL INC.
State: TX
Product: Credit reporting, credit repair services, or other personal consumer reports
Sub-product: Credit reporting
Issue: Improper use of your report
Sub-issue: Reporting company used your report improperly

Complaint:
I have furnished ALLY FINANCIAL with multiple notices of my consumer right to rescind according to truth in lending act ( TILA ) and the Code of Federal Regulations ) ( CFR ) to the businesses listed addresses as well as multiple complaints filed through the CFPB which still hasnt gotten ALLY FINANCIAL to honor and initiate the rescission process. As stated above in the effects of rescission, within XXXX calendar days after receipt of a notice of rescission, the creditor shall return any money or property that has been given to anyone in connection with the transaction and shall take any action necessary to reflect the termination of the security interest. The 20 day time period thats lawfully granted to you has been tremendously overdue as I sent the first notice out XXXX months ago. I was never given a right to rescind which is required by law to be furnished to the consumer and if not provided that in a timely manner or at all, could void the entire contract which in this case voids the entire contract. I demand the title of the vehicle to be mailed to address listed above being that the car included in the contract is MY PRINCIPLE PLACE OF DWELLING. I demand ANY and ALL funds associated with this transaction that I as the consumer, under duress provided to the financial agency which is clearly unlawful due to the fact that ALLY FINANCIAL purchased and obtained my consumer information illegally. 



NOTICE OF PENDING LITIGATION SEEKING RELIEF AND MONETARY DAMAGES UNDER FCRA SECTION 616 & SECTION 617 LAST NOTICE OF RIGHT OF RESCISSION 12 CFR Part 1026 ( Regulation Z ) 1026.23 ( a ) Right of rescission and ( 1 ) Consumers right of rescind Please accept this final written OFFER OF SETTLEMENT BEFORE LITIGATION as my attempt to amicably resolve your continued violation of the Fair Credit Reporting Act regarding your refusal to delete UNVERIFIED information from my consumer file. I intend to pursue litigation in accordance with the FCRA to seek relief and recover all monetary damages that I may be entitled to under Section 616 and Section 617 if the UNVERIFIED items listed below are not deleted immediately. A copy of this letter as well as copies of the three written letters sent to you previously will also become part of a formal complaint to the Federal Trade Commission and shall be used as evidence in pending litigation provided you fail to comply with this offer of settlement.

Despite three written requests and multiple recorded phone calls, the unverified items listed below still remain on my credit report in violation of Federal Law. You are required under the FCRA to have a copy of the original creditors documentation on file to verify that this information is mine and is correct. In the results of your investigations, you stated in writing that you verified that these items are being reported correctly? Who verified these accounts? You have NOT provided me a copy of ANY original documentation ( a consumer contract with my signature on it ) as required under Section 609 ( a ) ( 1 ) ( A ) & Section 611 ( a ) ( 1 ) ( A ). Furthermore you have failed to provide the method of verification as required under Section 611 ( a ) ( 7 ). Please be advised that under Section 611 ( 5 ) ( A ) of the FCRA you are required to promptly DELETE all information which can not be verified.

The law is very clear as to the Civil liability and the remedy available to me ( Section 616 & 617 ) if you fail to comply with Federal Law. I am a litigious consumer who has sued Equifax in the past and fully intend on pursuing litigation in this matter to enforce my rights under the FCRA.

According to Consumer laws and regulations, 12 CFR Part 1026 ( Regulation Z ) 1026.23 ( a ) Right of rescission and ( 1 ) Consumers right of rescind clearly states that : ( a ) ( 1 ) In a credit transaction in which a security interest is or will be retained or acquired in a consumer 's principal dwelling, each consumer whose ownership interest is or will be subject to the security interest shall have the right to rescind the transaction, except for transactions described in paragraph ( f ) of this section. For purposes of this section, the addition to an existing obligation of a security interest in a consumer 's principal dwelling is a transaction. The right of rescission applies only to the addition of the security interest and not the existing obligation. The creditor shall deliver the notice required by paragraph ( b ) of this section but need not deliver new material disclosures. Delivery of the required notice shall begin the rescission period.

( a ) ( 2 ) Consumers exercise of right. To exercise the right to rescind, the consumer shall notify the creditor of the rescission by mail, telegram or other means of written communication. Notice is considered given when mailed, when filed for telegraphic transmission or, if sent by other means, when delivered to the creditor 's designated place of business.

( a ) ( 3 ) ( i ) Rescission Period. The consumer may exercise the right to rescind until midnight of the third business day following consummation, delivery of the notice required by paragraph ( b ) of this section, or delivery of all material disclosures, whichever occurs last. If the required notice or material disclosures are not delivered, the right to rescind shall expire 3 years after consummation, upon transfer of all of the consumer 's interest in the property, upon sale of the property, whichever occurs first. In the case of certain administrative proceedings, the rescission period shall be extended in accordance with section 125 ( f ) of the Act.

( a ) ( 3 ) ( ii ) For purposes of this paragraph ( a ) ( 3 ), the term material disclosures means the required disclosures of the annual percentage rate, the finance charge, the amount financed, the total of payments, the payment schedule, and the disclosures and limitations referred to in 1026.32 ( c ) and ( d ) and 1026.43 ( g ).

( b ) ( 1 ) Notice of right to rescind. In a transaction subject to rescission, a creditor shall deliver two copies of the notice of the right to rescind to each consumer entitled to rescind ( one copy to each if the notice is delivered in electronic form in accordance with the consumer consent and other applicable provisions of the XXXX XXXX ). The notice shall be on a separate document that identifies the transaction and shall clearly and conspicuously disclose the following : ( i ) The retention or acquisition of a security interest in the consumer 's principal dwelling. 
( ii ) The consumer 's right to rescind the transaction. 
( iii ) How to exercise the right to rescind, with a form for that purpose, designating the address of the creditor 's place of business. 
( iv ) The effects of rescission, as described in paragraph ( d ) of this section. 
( v ) The date the rescission period expires. 
( XXXX ) Proper form of notice. To satisfy the disclosure requirements of paragraph ( b ) ( XXXX ) of this section, the creditor shall provide the appropriate model form in appendix H of this part or a substantially similar notice.. 
( d ) Effects of rescission. 
( XXXX ) When a consumer rescinds a transaction, the security interest giving rise to the right of rescission becomes void and the consumer shall not be liable for any amount, including any finance charge. 
( XXXX ) Within XXXX calendar days after receipt of a notice of rescission, the creditor shall return any money or property that has been given to anyone in connection with the transaction and shall take any action necessary to reflect the termination of the security interest.

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