Consumer complaint received 2015-06-02
Company: VW Credit
State: CA
Product: Consumer Loan
Sub-product: Vehicle loan
Issue: Managing the loan or lease

Complaint:
It all started with inquires! 

Excessive -adjectiveMore than is necessary, normal, or desirable ; immoderate. 

In 2012 I was in the market to purchases a vehicle. The XXXX XXXX XXXX was the vehicle of choice. 

I wo n't bore you with the XXXX shameful hours I spent at the dealership. This practice should be banned. Never the less I purchased my vehicle and I was on my way. 

I was a successful XXXX. Highly educated! The go to guy for all things. However I could n't get a handle on credit and what it was doing to the American consumer. So I started a business. 

XXXX XXXX and XXXX Literacy! 

I want to know everything I could about FICO vs.Fake'O! All the acts protecting consumer 's rights! I had nothing but time on my hands. 

I was paying my car note on time. Settling all debts! Restoring my good name and building a business which addressed my credit concerns and issues, as well as others. 

In this economy, credit is more important than ever before. Credit scores are a misrepresentation of a true credit history! Good credit may have qualified you for mortgage years ago may not merit an auto loan today. This is a result of industry misleading consumers ; redirecting consumer 's attention to a number ; not the data or information which is used to make a financial product or service available. 

All my life I have been the guy who could get it done. If I could n't do it, I found a way or there was no way! So this undertaking was just the task for me. 

I became a independent agent for a financial education company, which gave me access to vital resources and tool along with stating my business. Using the internet and a variety of other resources I began to understand the connection between SSN, our economy, the financial system, income inequality and a host of practices which have distorted the hopes and dreams of so many Americans. 

Do n't get me wrong! I had my challenges early on in life. Who has n't! We are Americans, we wrote the book on this issue related to credit and debt. 

As I mentioned early on, all I need was time, to allow a positive history to emerge before looking for a business loan. 

Some XXXX months had passed and I was ready to secure that business loan. Positive payment history, settled debt, XXXX inquires and a credit score in the high XXXX range. I would have to pay a bit more for my loan, which I understood work was still need. The business loan was going to be the additional work needed to propel me over the XXXX mark. 

In XXXX I believe it was. I approached XXXX for a business loan to my surprise I was denied. So I requested a copy of my credit report from all XXXX Consumer Reporting Agencies. What I was once I received my credit report was outrageous! 

XXXX credits inquire all my credit. Mind you, XXXX different credits inquire an each reports. All do on the same day. 

I was beside myself! So I reached out to XXXX XXXX, Volkswagen Credit and to expect they gave me the XXXX. More or less telling me to XXXX! There was nothing they could do about it. Lenders see the inquires as XXXX inquiry. 

If that were the case I would have had only XXXX inquires on my credit report because, I had did my due diligence months before looking for a car. Which I had only XXXX inquiry on my credit report! 

Life had never been the same because of the excessive inquires! I was left with no other option but to take matters into my own hands. The results have been slow, however worth the time. 
I 'm reaching out to you today for your help. The wrongs of XXXX XXXX, Volkswagen Credit and dealerships, are egregious and unlawful. They have nearly ruined my life. However i can weather the storm. The financial lives of the American consumers is what keeps me up at night. 

I 'm still unable to obtain a loan, because of their actions and abuse of the credit system.

Company response to consumer: Closed with explanation