Consumer complaint received 2022-10-08
Company: General Motors Financial Company, Inc.
State: NC
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:
On XX/XX/XXXX my vehicle was destroyed in the hurricane. High winds brought down trees, one of them fell on my car. I had purchased it on XX/XX/XXXX in XXXX XXXX North Carolina and financed it through GM Financial. Because the car was totaled and I had gap insurance both XXXX my regular car insurance provider and XXXX the gap insurance provider were going to pay off the vehicle. I have copies of the email exchange between myself and both of those companies during this time. GM Financial was notified of these claims immediately. I was assured by all three companies that I did not have to make any more payments on this vehicle. The following weekend I purchased a new vehicle at the same dealership which was financed through XXXX. Insurance claims apparently take time to pay out so I kept a close eye on my credit report over the next few months, watching for the balance to disappear. I watched as the amount that XXXX was going to pay was removed. I watched us the amount XXXX was going to pay lingered longer on my credit report. Eventually XXXX paid their part, but inexplicably after both companies paid there was a {$37.00} balance remaining. I spoke with all three companies. GM in particular I called several times about this balance as it was showing as a negative factor on my credit report. They told me initially it was a mistake and that I could ignore it. The account was then charged off. Alarmed because my credit had already been damaged quite significantly by my recent divorce proceedings, I called back once again. At this point speaking to the same individual who had reassured me before that this was a mistake, I insisted that I pay the balance however I could so that it would come off of my credit report. He said he wild and a message to a specific department to fix this, accepted the payment and I have proof of payment from XXXX XXXX XXXX  in XXXX XXXX. That was XX/XX/XXXX. Unfortunately, though that amount was paid ( when frankly it shouldnt have even been there ), GM Financial insists on reporting this as a charge off. Their own employee told me to ignore this, that it was an accident, that it was a mistake. This one negative factor on my credit report is preventing me from having a credit score that will qualify me for the mortgage that I am applying for. XXXXXXXX XXXX in Tennessee, my contact there being XXXX XXXX, alerted me to the weight of this one error. If this were correctly reported as paid as agreed, my credit score would be as much as XXXX points higher. This is an extremely damaging error entirely at the fault of GM Financial. It is preventing me from qualifying for purchasing a home for myself and my children. I am a single mom. I never had a late payment on this loan I followed the instructions of the finance company as well as the insurance companies. This is unacceptable.

Company response to consumer: Closed with explanation