Consumer complaint received 2020-01-02
Company: General Motors Financial Company, Inc.
State: CO
Product: Vehicle loan or lease
Sub-product: Lease
Issue: Incorrect information on your report
Sub-issue: Account information incorrect

Complaint:
I leased a vehicle with GM which they reported as a repo. When I noticed it on my credit report I sent them this letter. From everything I read if it was indeed a repo as they reported they should be able to provide this information : Date : XX/XX/XXXX XXXX XXXX XXXX XXXX XXXX XXXX, CO XXXX GM FINANCIAL XXXX XXXX XXXX, XXXX . XXXX XXXX XXXX, TX XXXX VIA USPS & FAX : XXXX Dear GM FINANCIAL : You are reporting inaccurate information in my credit report. Please investigate the following items, and promptly remove inaccurate, incomplete or unverifiable accounts : Creditor : GM FINANCIAL, Account : XXXX Reason : Please investigate if every piece of information is correct. If not, please remove it from my credit report. 

Please provide a complete payment history, what was the original date of delinquency for this account that caused it to become a chargeoff? What was the date of the last payment received. How did you calculate the current amount owed? Provide proof that the vehicle was reposessed and proper notifications sent per XXXX. 

If indeed the vehicle was repossed as you are inaccurately reporting. Provide the following : A A full and complete accounting of all payments including itemization on how monies were applied to principal, interest, or other fees. 
- Please provide me with a copy of the bill of sale for the vehicle in question. 
- Please provide me with a copy of the signed USPS slip as evidence of statutory overnight deliverysigned by the addressee. 
- Please provide me with the name, address, phone number of the towing company used to transport the vehicle to the private auction. 
- Please provide a copy of the bill of sale showing the price of the money collected because of the private sale as evidence the vehicle was resold in a commercially reasonable manner or even for a good price. 
- Please provide me with a full and complete calculation of how you determined the sales price. 
- Please provide me with a full and complete explanation of how you derived the deficiency balance, Items 1-18 on the Explanation of Calculation of Surplus or Deficiency. 

Please send that to my attention within 5 business days of the receipt of this letter. Once I receive the requested information, I will require at least 30 days to investigate this information. 
If your offices fail to respond to this VALIDATION REQUEST within 30 days from the date of XXXX, XXXX XXXX, all references to this account must be deleted and completely removed from my credit file and a copy of such deletion request shall be sent to me immediately. 

Thank you for your prompt attention to this matter. 

Sincerely, XXXX XXXX On XX/XX/XXXX they responded with information on a different account ( # XXXX ) not the one that I wrote about! On XX/XX/XXXX I wrote them again : Date : XX/XX/XXXX XXXX XXXX XXXX XXXX XXXX XXXX, CO XXXX GM FINANCIAL 2nd Request XXXX XXXX XXXX, XXXX . XXXX XXXX XXXX, TX XXXX VIA USPS & FAX : XXXX Dear GM FINANCIAL : I have sent letters to you requesting that you remove inaccurate, incomplete or unverifiable accounts from my credit file. To date you have failed to comply with the requirements of the Fair Credit Reporting Act by ignoring my requests. Be advised that I am considering filing a complaint with the FTC due to your noncompliance with the FCRA. 

I have kept all records of my communications with you, including the letters I have sent, proof of your receipt of the letters, and evidence of your noncompliance. It has been over 45 days since your receipt of my original request to investigate the remove the following accounts, and you have failed to comply with the FCRA. 

In good faith, I ask that you please reinvestigate the following items, and promptly remove inaccurate, incomplete or unverifiable accounts : Creditor : GM FINANCIAL, Account : XXXX This account was NOT a reposession. If you believe that it was, please provide all of the following documentation or delete this comment from each of the credit bureaus : 1. Auto Purchase Plan Agreement 2. Credit Application ( to corroborate identity of alleged debtor ) 3. Sale Invoice ( to corroborate claim amount of alleged debt ) 4. Vehicle Invoice ( to corroborate consistency of claim amount of alleged debt ) 5. Retail Certificate of Sale ( to corroborate parity between sale amount and claim amount ) 6. Payment History providing evidence of payments including last payment date and Charge-off Date ( to corroborate actual debt owed net any payments ) 7. Vehicle Title 8. Dunning Letter 9. Repossession Assignment ( initial ) 10. Any subsequent Repossession Assignments 11. Repossession reassigns 12. Account Profile/Repossession Approval 13. Repo Checksheet 14. Notification Letter to Report Derogatory Status to Credit Bureaus 15. Notice of Repossession/Right to Redeem with any additional fees ( e.g. Recovery fee ) to reflect Legal requirement to notify me personally, or by registered or certified mail at my last-known address, within 24 hours of such repossession. 

16. Notice of Plan to Sell Property at a Private Sale ( Notifying me of the time and place of a public sale and/or of the time after which a private sale has taken place ). 

17. Letter of Private Sale ( Disclosing Purchase price of buyer ) 18. Total Loss Protection Assurance ( Covers the loss of the entire car minus any payment obligations until submission of claim ) 19. Post-repossession assigns/assignments/assignment agreements 20. Debtor Notification of Assignment pursuant to 21. Bill of Sale for the sale of any chattel paper or payment intangibles relative to the debt I made it a point to research what the IRS  defines as a charge off ( https : //www.irs.gov/pub/irs-drop/rr-01-59.pdf ) An account can not be 'charged off ' prior to a 180 day delinquency. Also a charge off is a LOST asset. This account was paid in full according to the lease agreement. 

Per the Fair Credit Reporting Act, Section 611 ( a ) ( 6 ), I also request that you provide a description of the procedure used to determine the accuracy and completeness of the information, including the business name and address of any furnisher of information contacted in connection with such information and the telephone number of such furnisher. By law, this information must be provided to me within 5 business days after the completion of the reinvestigation. 

Again, if you fail to immediately remove inaccurate, incomplete, or unverifiable information, be advised that I intend to log a complaint against you with the Federal Trade Commission. I am tracking receipt of these letters by fax and USPS. 

Thank you for your prompt attention to this matter. 

Sincerely, XXXX XXXX When I followed up with a phone call about the inaccurate reporting I was told that the letter that I sent was not specific. Really?! I also wrote the credit bureaus during this time period. I got a response back that said File Number XXXX Date Issued : XX/XX/XXXX Pay Status : Account paid in Full ; was a charge off Remarks : PAID IN FULL/WAS CHARGE OFF So ( 1 ) why didn't GM tell the other two bureaus and ( 2 ) why is it now showing as TU - payment after charge off/collection dispute resolved ; reported by grantor. Exp - Account was in dispute- now resolved - reported by subscriber. Unpaid balance reported as a loss by credit grantor. Eq - paid charge off auto. 

Yet all 3 have a {$0.00} balance so what is there to charge off. 
The fact that they initially damaged my score by saying it was a repo was incorrect and should have been removed. Then to state it was actually paid in full to it being back to a chrage off is wrong! You can't charge off a paid account. 

They didn't even acknowledge my request for information so what are they using to validate this debt GMs response said I didn't provide sufficient information and that I needed to provide documents to substantiate the basis of the dispute. Are they kidding?! They are the ones reporting. They are the ones required to validate the debt. 

GM has reported inacurately and continues to do so. I want this account deleted. I hope there is a way to upload what I am saying. Thank you for righting a wrong.

Company response to consumer: Closed with explanation