Consumer complaint received 2016-07-11
Company: TOYOTA MOTOR CREDIT CORPORATION
State: CA
Product: Consumer Loan
Sub-product: Vehicle loan
Issue: Managing the loan or lease

Complaint:
In a recent review of my credit report ( XXXX XXXX ) I noticed Toyota Motor Credit Corporation added inaccurate information to a trade line on my credit report that had previously been listed as paid and closed for the past five years. During my annual review of my credit report back in XXXX XXXX, I inquired about the TMCC account still remaining on my credit report after ten years and requested information be provided to validate the accuracy of the trade line and/or have it removed. Upon my request from the credit bureaus for information regarding the validity of the trade line, I was prompted to start and open an investigation per the credit bureau protocol re : the TMCC trade line. After providing the necessary information to the credit bureaus to assist with the TMCC investigation, I was given a file confirmation number as well as a tentative date when I could expect the investigation to be completed. XX/XX/XXXX I received documentation from XXXX credit bureau ( XXXX ) that the TMCC investigation had been completed and new information had been provided to update my credit report. Upon reviewing the updated information I received in the mail from XXXX re : the TMCC investigation, I became aware of the inaccurate information that TMCC had provided to the credit bureau. In the updated information TMCC provided to the credit bureau ( XXXX ) TMCC changed the {$0.00} balance paid/closed trade line that had been listed on my credit report since XXXX/XXXX/XXXX to now stating that in XXXX XXXX I owe a balance of {$9400.00} which was conflicting information previously stated on my credit report for the past five years. From XXXX XXXX to XXXX XXXX the TMCC trade line listed a {$0.00} balance paid/closed. The new information that TMCC provided to the credit bureau was completely conflicting and contradictory from the previous information TMCC had listed on the trade line for the past five years. After reviewing the new information TMCC had provided to the credit bureau in response to the investigation, I immediately contacted the credit bureau ( XXXX ) informing them of the discrepancy and inquiring about what action I can take to have this TMCC trade line discrepancy rectified. During my conversation with the credit bureau rep, I inquired as to what information TMCC provided to validate the new information? The credit bureau rep replied that no hard copies of any sort with my signature or any tangible documentation was provided for validation. The only response from TMCC for the new information TMCC provided to the credit bureau was that was the information TMCC had on file in their computer system regarding my account. I questioned the legality of the investigation and how it was possible for TMCC to suddenly have information in their computer system in XX/XX/XXXX stating that I owe a balance of {$9400.00} when from XXXX/XXXX/XXXX ( listed on my XXXX XXXX XXXX report and on my XXXX XXXX XXXX report ) to my inquiry in XXXX XXXX the account had shown {$0.00} balance and current/paid/closed. I also informed the credit bureau rep that I had requested a payment account history from TMCC back in XXXX XXXX and I was told by TMCC that no information was on file in their computer system for my past account and there was no information TMCC could provide me at the time of my request in XXXX XXXX. After further discussing the outcome of the TMCC investigation with the credit bureau rep, and being informed by the credit bureau rep that the credit bureau was unable to assist me further ; I felt the only other recourse I had was to reach out to the Consumer Financial Protection Bureau for assistance with this TMCC matter.

Company response to consumer: Closed with non-monetary relief