Consumer complaint received 2018-05-31
Company: ALLY FINANCIAL INC.
State: NC
Product: Vehicle loan or lease
Sub-product: Loan
Issue: Problems at the end of the loan or lease
Sub-issue: Problem while selling or giving up the vehicle

Complaint:
My car was wrecked on XX/XX/XXXX and deemed a total loss on XX/XX/XXXX. One week later the insurance total loss adjuster established the total payout amount for the car. I gave the adjuster the finance company contact information in order for her to get the total payout amount for the wrecked vehicle in order to settle the amount due. Around XX/XX/XXXX I received a call from the finance company stating that my payment was past due. I informed them that I no longer had possession of the vehicle, it had been total loss due to an accident and that the insurance company were given their contact information in order to pay off the car. Immediately after I called the total loss adjuster and informed her of what the finance company stated concerning the payment, she stated they would " cut the check immediately. '' Three weeks later, after receiving no follow up from the insurance company or the finance company and assuming the payout check had been received, I noticed a change on my credit report. The finance company has reported my car payment as 30-59 days late and has caused my credit score to plummet. So I contacted the insurance company to see why they have yet to pay off this vehicle they now have possession of, they informed me that for 3 weeks the finance company hasn't answered their phone calls and is refusing to send a letter of guarantee in order for insurance to pay off the car. I contacted Ally several times in which they continually lied to me stating they have received no correspondence from insurance and refusing to allow me to speak to a manager or supervisor. Even with knowledge of the accident and after receiving numerous calls from insurance they have continued to add daily finance charges for each day they can drag things out. They are also continuing to report these bogus charges in my credit report, drastically affecting my credit. On XX/XX/XXXX I filed a complaint to the XXXX. After receiving the complaint, Ally finally acknowledged the correspondence from insurance and sent the letter of guarantee, which states that if they send the pay out amount the determined for the value of the vehicle they will take possession of the vehicle and own the vehicle. On XX/XX/XXXX the insurance company issued the pay out check, sending me a confirmation email when they issued it. Ally has yet to update the balance owed and continues to add additional finance fees although they have received pay out from insurance. They are still reporting these bogus charges on my credit report. They are also refusing to file the GAP insurance I purchased with the vehicle in the event of an accident, GAP would cover any additional charges that insurance didn't pay. I have not had possession of this vehicle since XX/XX/XXXX. This is not fair and should be illegal! Ally customer service is a joke! They will lie to you before you can take a breath. They all crooked and should be SHUT DOWN!

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 non-monetary relief