Consumer complaint received 2018-07-09
Company: Cross Country Financial Corporation
State: CA
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:
In XX/XX/XXXX, I co-signed on a XXXX XXXX for XXXX XXXX XXXX ( account number according to credit report is XXXX ). As early as the same week two days after we signed the loan application and since then I have contacted Cross Country Financial Corporation-XXXX XXXX XXXX # XXXX, XXXX XXXX, CA XXXX- to try to remove my name from the loan because I was informed by XXXX XXXX XXXX that he couldnt afford the payment as agreed ( I was told that there was a 3 day right to cancel by the dealer but CCFC did not honor this ). 

Since that time, he had the car repossessed at least two times and the last time was in XX/XX/XXXX. For the entire duration of the time that XXXX XXXX XXXX had the car, he did not have car insurance and I reported this several times to Cross Country Financial to no avail ( but this is a contract violation ). 
In XX/XX/XXXX, the car was repossessed and in XX/XX/XXXX, I paid over 2000 to bring the car current and to get the car from the tow yard. Before I was able to obtain the car from the towing company, Cross Country Financial made me fill out another application ( over one year and a half after the initial application was submitted ) as the co-signer and send in my paystub, id, and proof that I obtained car insurance ( see the attachment ). 

Beginning XX/XX/XXXX, I started making the monthly payments ( this is the 2nd time that I did so ) and I had this car as non-operational with the DMV because I did not need this car. Cross Country was never willing to help me attempt to rectify the situation. They told me that I could not sell the vehicle because both names were on the vehicle but I decided to take this car to XXXX XXXX XX/XX/XXXX for an appraisal. At this time, XXXX XXXX reported that the car had been in an accident prior to the XXXX purchase of the vehicle ( and this was never reported to me ). XXXX XXXX stated that because of this, the cars value was {$1500.00}. 

After I took the car to XXXX XXXX, I contacted Cross Country Financial to report to them what XXXX XXXX informed me about the car. At this time, they offered to take the car from me, so I dropped off the vehicle to Cross Country Financial and they sold it at an auction for about $ 3K ( this was in XX/XX/XXXX ). 

In XX/XX/XXXX, Cross Country Financial begin sending me threatening letters and emails ( see attachment of XX/XX/XXXX email ) to sue me for the remaining balance on the vehicle ( the balance was $ XXXX after it was sold at the auction according to a notice that Cross Country sent to me ). Even though I am the co-signer, the notices do not have XXXX XXXX XXXX name and I was even told by Cross Country that I asked them to make me solely responsible for the vehicle balance ( which is not true ). 
In XX/XX/XXXX, Cross Country Financial reported that I fell behind on the payments on my credit report. When I checked my credit report it indicates that I am behind over {$2000.00} dollars in payments and I have a total balance of {$4200.00}. Even after Cross Country Financial sold the car at auction, they are still charging me interest. This doesnt seem like fair consumer practices. At this point, should the balance have been sent to collections? 

Also, I have provided Cross Country Financial with information to pursue XXXX XXXX XXXX as well because this is a car that I co-signed for him. However, notices continued to be mailed solely to me with only my name on it. 
The biggest concerns : are the fact that the cars value was so low due to an accident according to XXXX XXXX but sold for over {$16000.00} according to the contract signed ; the threatening letters are only being sent to me, the fact that I am still being charged interest on a car that Cross Country sold at an auction, and the inaccurate information being reported on my credit report. As of today, my credit report indicates that I am 180 past due and that the past due amount is {$2900.00}, that the original balance was {$10000.00} and that I owe {$4200.00} ( the attachment from Cross Country sent in XX/XX/XXXX, indicates the balance on the car is {$4100.00} and this was in XX/XX/XXXX ). In XX/XX/XXXX, I sent Cross Country a payment of {$100.00} but this has not been applied to the balance. Lastly, Cross Country Financial even ran a hard credit inquiry for an Installment Loan on my credit report. This inquiry is dated XX/XX/XXXX on my credit report and this was without my consent and I would like this removed.

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