Consumer complaint received 2022-10-31
Company: ALLY FINANCIAL INC.
State: MO
Product: Vehicle loan or lease
Sub-product: Loan
Issue: Managing the loan or lease
Sub-issue: Billing problem

Complaint:
On XX/XX/XXXX I applied to extend my credit to purchase a used XXXX XXXX XXXX XXXX # XXXX, with XXXX XXXX XXXX XXXX and Alley Finance. On this day I was not disclosed ant of the disclosers required by law, Right To Recission XXXX XXXX XXXX as well as XXXX XXXX XXXX, where it states in the case of any consumer credit transaction ( including opening or increasing the credit limit for an open end credit plan ) in which a security interest, including any such interest arising by operation of law, is or will be retained or acquired in any property which is used as the principal dwelling of the person to whom credit is extended, the obligor shall have the right to rescind the transaction, I was never disclosed or made aware of any of this. It states that the creditor shall Clearly and conspicuously disclose, in accordance with regulations of the XXXX. XXXX XXXX XXXX XXXX and Ally Finance violated several federal violations & codes in the process of financing me this vehicle. I have tried teamwork this out with both companies and resolve this issue with both XXXX XXXX XXXX XXXX and Ally Finance but nothing has been worked out. Ally Finance continuously make attempts to collect a debt that I'm not responsible for. I have made aware several times of the federal violations they have and continue to violate and still we have not resolved this issue. Im continuously being threatened to have my car repossessed. I have brought to their attention of the multitude of federal violations they are violating such as ; 15 USC 1605a, Finance Charge, 15 USC 1605a ( 4 ) fee for an investigation or credit report, 15 USC 1605b ( 1 ) Life, accident, or health Insurance premiums included in finance charge, 15 USC 1605e Fees or premiums for title examination, 15 USC 1605e ( 6 ) Credit Reports, 15 USC 1605f ( 1 ) Tolerances for accuracy, 15 USC 1605 f ( 2 ), 15 USC 1605f ( 2 ) b, 15 USC 1635b, 15 USC 1692e, Misleading Representative. The list of violations go on with all the false and deceptiveness. XXXX XXXX XXXX XXXX and Ally Finance and I enter a Retail Installment Sale Contract. My information was shared with other agencies without my consent, which also violates Federal Code 15 USC 1681b Permissible purposes of consumer reports and 15 USC 6802, Obligations with respect to disclosures of personal information. I am now receiving emails and calls with voice messages threating to to repossess my car without resolution to the matter. The Fraudulent Retail Installment Sales Contract is governed by the Truth in Lending Act. This Contract is also evidence by the FTC holder notice 16 C.F.R.433.2 which states that this is a consumer credit contract, and that the respondent is a " holder in due course '' in accordance with the UCC-3-302 ( a ) ( 2 ) ( i ) and is subject to all claims which the debtor could assert against the seller in accordance with the FTC holder notice 16 C.F.R. 433.2 During this consumer transaction XXXX XXXX XXXX XXXX and Ally Finance committed many violations including miscalculations and mislabeling the H-1 Credit Sale model form. To go any further, 26 C.F.R. 15a. 453-1 ( e ) ( 1 ) ( i ) states, " a bond or other evidence of indebt issued by any person and payable on demand shall be treated as payment in the year received, not as installment obligations payable in future years '' The respondent knew that the contract itself was a payable instrument which paid for the vehicle and failed to disclose this to the consumer ( myself ). This is a violation of 15 USC 1638.

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