Consumer complaint received 2023-12-20
Company: M&T BANK CORPORATION
State: NY
Product: Credit reporting or other personal consumer reports
Sub-product: Credit reporting
Issue: Incorrect information on your report
Sub-issue: Account status incorrect

Complaint:
In XXXX, I contracted XXXX XXXX and missed the last few weeks of school. I did not know that I was out of personal time and I had already received my final paycheck of the school year. My first paycheck was to be deposited by XX/XX/XXXX and my mortgage is due on the XXXX of the month, with a grace period of the XXXX. 

My HR department never told me that my paycheck would be docked. As soon as I realized I was to be {$1700.00} short for XXXX, I contacted M & T Bank re : my mortgage and explained there was no way I could pay it within 30 days, and I wanted to avoid a 30 day mark on my credit. 

I offered to make a partial payment of {$1200.00} if they could extend the other amount out a few weeks. They advised they could not take partial payments and that I would need my account to go 30 days late before I called them back and applied for assistance. 

As of XX/XX/XXXX, my account was 30 days late and I called on XX/XX/XXXX. I was told that I could apply for a partial claim ( and that the late payment would be restructured into the loan. ) I was told this could take up to 30 days. I asked about the late payment. I specifically asked if the request was still in underwriting, would I be reported AGAIN the following month for being late. I was told no, my account was " protected. '' This was not the case. 

Underwriting took the full 30 days, and then some, and they reported me late to the credit bureaus for 60 days. After that happened, I called back and was told that I had been given wrong information and that in fact, even though I was approved for the program, until the loan " closes '' ( after a notary comes ) I would continue to be reported for late mortgage payments. 

There was a TWO-WEEK Delay for the mobile notary, who finally came out on XXXX XXXX. 

I was devastated to find that my credit was totally destroyed because of this. I would have simply made the late payment and NEVER applied for this partial claim. NEVER. 

Because I know have FOUR late payments on my credit report, I can not finance anything for YEARS. 

On XXXX XXXX, I was struck by a deer. My XXXX XXXX ( 2.99 % interest, purchased pre-Covid, ) was totaled. 

I could not get ANY financing at a dealership because their underwriting teams were requesting proof of " current mortgage '' AND WOULD NOT CONSIDER A RESTRUCTURED LOAN. I was denied. 

I had to go to a used sales lot, pay a higher price on a vehicle, 24 % interest and I have no way to refinance for years unless these late payments come off my report. 

I feel that in GOOD FAITH, these late payments should be REMOVED. M & T has destroyed my financial life, the security of my family, and caused me to have to take a 2nd job as I'm now paying MORE for a XXXX XXXX than I had paid for my XXXX XXXX XXXX, which was 50 % paid for, and I had to put XXXX down and take out a 5 YEAR LOAN. 

They did not act in Good Faith. I asked these questions about my credit and I was misinformed, and information was withheld from me multiple times. 

I can dispute these on my credit report, but I know that often a co. will not remove them. 

I feel that MT Bank acted dishonestly and the LEAST they can do is remove those late marks for XXXX, XXXX, XXXX, XXXX.

Company public response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
Company response to consumer: Closed with non-monetary relief