Consumer complaint received 2023-01-14
Company: VW Credit
State: GA
Product: Vehicle loan or lease
Sub-product: Loan
Issue: Incorrect information on your report
Sub-issue: Account status incorrect

Complaint:
In and about XXXX of XXXX, I entered into a contract to buy a new vehicle from Volkswagen Credit for a term of 72 months with a scheduled final payment date of XX/XX/XXXX. Around or about XXXX and/or XXXX of XXXX, I requested and received a COVID relief extension for three months that would have covered the months of XX/XX/XXXX, XX/XX/XXXX, and XX/XX/XXXX. The first payment due after the extension would have been on XX/XX/XXXX. I made a payment on XX/XX/XXXX. Volkswagen Credit claims that only one payment extension was granted to me during that time for the month of XX/XX/XXXX to be exact. Volkswagen also claims that it only gave me six extensions- with each extension added to the end of the loan. However, if Volkswagen was correct then it should have only given me five extensions and the term of the loan should have only increased from 72 months to 77 months - even with the change of due dates from the XXXX of the month to the XXXX of the month. Three extensions for COVID relief were granted in XXXX and my scheduled final payment date originally changed to XX/XX/XXXX, from XX/XX/XXXX, and then to XX/XX/XXXX, from XX/XX/XXXX, after the monthly due date was changed from the XXXX to the XXXX of every month. An extension was applied for in the month of XXXX of XXXX, but it was not granted due to a lack of signed documents. As such, according to Volkswagen - I would have been granted a total of four payment extensions no later than XX/XX/XXXX. In XXXX, I was granted another payment extension with a final warning that I would not qualify for any more payment extensions. That last payment extension was counted as the sixth payment extension by Volkswagen. However, according to them, in XXXX, the total payment extensions were five payment extensions for the year - even though also according to them- they only granted me a payment extension for XX/XX/XXXX- which would mean that there were only four payment extensions and should have changed my scheduled final date payment from XX/XX/XXXX, to XX/XX/XXXX as evidenced by the unsigned extension paperwork they later gave me as proof. Yet, my final scheduled payment is for XX/XX/XXXX, as evidenced by the amortization statement when it should have been XX/XX/XXXX, with the payment extension granted in the year of XXXX - if Volkswagen had only given me one payment extension in the year of XXXX. Furthermore, the term of the loan was changed by Volkswagen from 72 to 78 months - as reported on my credit reports -which means that Volkswagen 's claim of only six payment extensions would have to include a payment extension for the payment due on XX/XX/XXXX, in addition to the payment extension granted in the year of XXXX. As such, the payment would not have been late because it would have counted as the fifth payment extension- if not, then I would have been sixty days late for payment on XX/XX/XXXX. The payment I made on XX/XX/XXXX, would have then only covered for XXXX of XXXX and left me sixty days late again on XXXX XXXX XXXX and then 90 days late on XX/XX/XXXX. Instead, Volkswagen Credit only reported a 30-day late payment in XXXX of XXXX -even as they claim they only gave a payment extension for XX/XX/XXXX. Finally, my amortization schedule lists the loan 's term for 79 months. For my term to be 79 months, it would mean that seven and not six payment extensions had been requested by me and then subsequently granted to me. This would mean that the payment for XX/XX/XXXX was not 30 days late because I paid it on XX/XX/XXXX. XX/XX/XXXX 's payment was 30 days late but paid on XX/XX/XXXX. XXXX 's and XXXX 's payment was paid on XX/XX/XXXX with XX/XX/XXXX 's payment at more than 30 days late but not 60 days late -and XXXX 's payment was not 30 days late. Both XXXX and XX/XX/XXXX 's payment were reported as 60 days late for each month on my credit report - and again- if only the payment for XX/XX/XXXX had been granted an extension- then for both XXXX and XXXX of XXXX - I would have been more than 90 days late. The explanation for Volkswagen appears to contradict itself on the evidence they presented because they seemed to have either illegally added one to two additional payments to the loan based on the claim that they only gave five to four payment extensions- of which is arguably an act and/or acts of fraud, or they seem to have given me seven payment extensions and correctly added those payments to the end of the loan and correctly extended the term of the loan from 72 to 79 months - but misrepresented a potential error of not correctly adding the extensions to my account and then refused to fix their mistakes. They may also have had an agent who should not have granted another COVID relief extension, and the company failed to inform me of this error and make it right. This has had serious harm on my credit score and my finances- especially when I have to pay for excessive interest rates on loans, I took out partly because of the financial loss created by being intimidated by Volkswagen Credit on taking my car from me when they claimed I was more than sixty days late on my car payments when that was never the case - which also had an adverse effect on my mental health of which still continues due to the incorrect reporting on my credit reports by Volkswagen correct. I have attempted multiple times to get Volkswagen to fix these issues to no avail. They insist that they only gave me six payment extensions- three in the year of XXXX, one in the year of XXXX, and one in the year of XXXX - of which adds up to five payment extensions and not six and even though the term of the loan has changed from 78 to 79 months- with last month listed as a 78-month term on my credit report.

Company response to consumer: Closed with monetary relief