Consumer complaint received 2016-06-06
Company: VW Credit
State: KY
Product: Consumer Loan
Sub-product: Vehicle loan
Issue: Managing the loan or lease

Complaint:
As there are only XXXX characters permitted to describe the issue, I will try to make this brief : I previously filed a CFPB complaint against Volkswagen Credit in XXXX. They offered no resolution in their response as they said they could not find/identify my account. This complaint XXXX XXXX XXXX was in regards to a deficiency balance XXXX claimed was owed ( and which was being reported on my credit reports ) that I claimed was invalid. After nearly 10 months of fighting and providing documentation, Volkswagen Credit finally ( on XXXX XXXX, XXXX ) sent me a letter acknowledging the account was in fact paid in full as of XXXX XXXX, XXXX. I have attached a copy of that letter. 

On XXXX XXXX, XXXX I sent a follow-up letter ( dispute ) to Volkswagen Credit. I have attached that letter as well. As I pointed out in that letter, while I appreciated the removal of the inaccurate deficiency balance, the payment history and account status being reported to the credit bureaus was inaccurate, impossible ( no way to go from on-time to 90-days late in one month ), and incredibly damaging to me. I provided copies of all the credit reports, explained why the reporting was inaccurate, and asked that Volkswagen Credit either correct the payment history and account status OR verify to me that the account history is correct ( as they have previously done when disputed through the credit reporting agencies ) and provide me with a copy of the ledger/payment history as what is being reported is wildly different than what my records show. I received a written response from Volkswagen Credit dated XXXX XXXX, XXXX. That letter is also attached. In that response, Volkswagen Credit acknowledges receipt of my letter and states that an update has been submitted to the credit reporting agency. I was told these changes could take 30 days. So I waited. 

As of today, the only change has been to XXXX XXXX. The payment history detail has been deleted entirely, yet the pay status still shows as Pay Status : Account Paid in Full, was a Repossession and the account includes the following Remarks : Dispute Investigation Compete. Reported by Grantor. Transferred to Recovery. Paid Repossession. 

What was transferred to recovery, as there was never a deficiency balance due? 

Neither XXXX nor XXXX received any update at all to the payment history, Account Status, nor Remarks. 

Volkswagen Credit is willfully reporting inaccurate information to the credit reporting agencies. I have disputed this inaccurate information through the channels provided by the credit reporting agencies and Volkswagen Credit has verified the information as accurate and correct. 

I have disputed the accuracy of this information directly with Volkswagen Credit and was told updates would be sent to the credit reporting agencies. This 'update ' was sent to XXXX of the XXXX credit reporting agencies and even that only fixed a portion of the inaccurate data. 

At this point, the continued reporting of ( and verification of ) inaccurate information in my credit bureau files constitutes a violation by Volkswagen Credit under the Fair Credit Reporting Act. 

I sent Volkswagen Credit a follow-up letter dated XXXX XXXX, XXXX also attached. I demanded either all inaccurate and negative information be deleted from all XXXX credit bureaus leaving a positive/closed account OR the entire trade-line be deleted. That letter was ignored and no changes occurred. 

I warned Volkswagen Credit I would file a Consumer Financial Protection Bureau complaint, which I would follow with a XXXX complaint and complaints with the XXXX of Oregon ( where they are located ) and Pennsylvania ( where the original transaction occurred ) and that I would also seek any compensation to which I may be entitled under the Fair Credit Reporting Act. I do not want things to have to proceed beyond this first step.

Company response to consumer: Closed with explanation