Consumer complaint received 2017-10-24
Company: Car Credit Finance, LLC
State: MD
Product: Credit reporting, credit repair services, or other personal consumer reports
Sub-product: Credit reporting
Issue: Incorrect information on your report
Sub-issue: Account status incorrect

Complaint:
Introduction Im writing this letter regarding an account on my credit report that I desperately need to get resolved. Im looking to either have this account fully removed or updated according to factual data. To date, I have been unable to completely resolve this situation. This situation has the attention of the Federal Government and I only have a short period time to resolve. 

Situation On XX/XX/XXXXI purchased a XXXX XXXX XXXX XXXX ( XXXX ) XXXX XXXX XXXX XXXX. This purchase for the sole purpose of a commuter car to save money on gas. The original purchase price of the car was XXXX and paid a monthly note of XXXX. My car note was paid every month on time and was never ever late. After 7  months of on time payments, I was involved in a rear end collision ( no fault of my own ) which totaled the vehicle and sent me to the hospital with all types of XXXX and XXXX bills to pay in the future. The accident was considered a non-contest and the drive of the other vehicle was cited and his insurance company was required to pay all my medical bills and time off work. My insurance company totaled the vehicle and paid Car Credit Finance arpx 2,800.00 due to the blue book value of the car. I did not have gap insurance therefore I was left with a difference/balance on the vehicle. Within a matter of days, Car Credit Finance reported my account to the credit bureau and a repossession. Since the vehicle was reported as a repossession, I was not allowed to make payments toward the account. What I did not understand is how can my vehicle be repoed and Ive never ever been late on a payment. I tried to resolve this situation several times with Car Credit Finance. I even agreed to a payment plan with Car Credit Finance. The company accepted my 250 payment however, to date the account balance still remains the same. I grew tired to trying to deal with the finance company and decided to resolve this situation through the credit bureau. I decided to dispute the account with XXXX XXXX and XXXX. Once I disputed the account, Car Credit Finance was forced to change the status of my account from repossession to Late/Charge-off/Seriously past due. This status is still incorrect. This account would have been paid off if I were allowed to continue to make on time payments. My frustration currently is the account is still being reported incorrectly. I was never late on this account and my status should reflect accurate data. At this point, all I want to do is clear my good name and regain my credit worthiness the honest way. This is an injustice and just another example of how these big finance companies prey on the day to day hard working citizen. 



Closing : Please let me know what my next steps are to resolve this situation. My charter has been assassinated and my ability to get credit has been severely impacted due to negligence on Car Credit Finance part. I would like to expose this type of scammer to help other hard-working citizens in America.

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