Consumer complaint received 2015-06-19
Company: NAVY FEDERAL CREDIT UNION
State: CA
Product: Consumer Loan
Sub-product: Vehicle loan
Issue: Shopping for a loan or lease

Complaint:
At the beginning of XXXX 2015 I applied to Navy Federal Credit Union for a used auto loan and was approved. I had the vehicle info, the dealership info and all other information that was needed to purchase the vehicle. Before everything was finalized, the vehicle was sold. I cancelled that loan with no problems. Around XX/XX/XXXX I found another vehicle and had all the required info in hand I applied and was approved. That vehicle was also sold before everything was finalized. I called Navy Federal to cancel this loan and spoke to a member service rep and he told me he cancelled the loan and everything was good to go. A couple of days later I am checking my accounts and this loan is now showing up as XXXX of my accounts. I called Navy Federal again and was told the loan was never cancelled by the other member service rep. This rep said they would take care of it. It did n't happen the second time either. The XXXX time I called, emailed through their website and complained on their XXXX page and finally the loan was cancelled but the damage was done. Navy Federal reported this loan to the credit bureaus as if I had received it and given it to the dealership to purchase the car. I called XXXX times to cancel this loan, never went into the bank to pick it up and never purchased a car but this loan is now on my credit report as an open account for {$46.00}, XXXX. I asked Navy Federal to submit something to the credit agencies XX/XX/XXXX and they told me it was not their job to submit anything and pretty much it was all on me dispute it. Even though it was their fault they submitted this fraudulently, it was my job to fix it. I have tried going through dealerships since then to receive financing but no one will give me financing because my credit report is already showing I have this loan for over XXXX already open and it 's making it seem as if I have almost XXXX in debt right now. I do n't, I am only {$22.00}, XXXX. I explained to them what happened and still no luck on getting financing. I still do n't have a car either. I applied again to Navy Federal on XXXX XXXX 2015 and now they are denying me credit. Even though they approved me for a used auto loan all the previous times I applied and XXXX credit cards. I 'm sure they are denying me credit for the same reason everyone else, this open {$46000.00} used auto loan that they submitted to the credit reporting agencies and that 's still showing up on my credit report as open. Now my credit score has dropped a lot because of this and because of all the inquiries by the dealerships trying to get me financing. After all of this, I still have no car, have to rent vehicles or borrow a friend 's car for anything I want to do now. They still have not accepted fault in this and in my honest opinion are not seeing how frustrating and aggravating this is. I am now seeking legal advice and legal action because I need a car and Navy Federal has really left me with no other options.

Company public response: Company believes it acted appropriately as authorized by contract or law
Company response to consumer: Closed with explanation