Consumer complaint received 2024-09-14
Product: Credit reporting or other personal consumer reports — Credit reporting
Issue: Problem with a company's investigation into an existing problem — Their investigation did not fix an error on your report
Company: Mercedes Benz Financial Services (FL)

Subject : Formal Dispute Regarding Inaccurate Credit Reporting and Unfair Practices by Mercedes-Benz Financial Services To Whom It May Concern at the Consumer Financial Protection Bureau XXXX CFPB ), I am writing to formally lodge a complaint against Mercedes-Benz Financial Services for their unlawful furnishing of inaccurate information on my credit report and their refusal to permit me to pay the alleged debt. These actions are not only causing substantial harm to my creditworthiness but also constitute multiple violations of federal statutes. I hereby request the CFPB 's immediate intervention to investigate this matter and facilitate the removal of this account from my credit report. 

Summary of the Dispute : Mercedes-Benz Financial Services has reported an account on my credit file. Despite my good faith efforts to resolve this alleged debt, they have obstructed my attempts to make payments. Furthermore, the company has violated numerous federal laws, including those related to fair credit reporting, billing practices, and debt collection. 

Specific Violations : 15 U.S.C. 1681a ( 2 ) ( xi ) - Fair Credit Reporting Act ( FCRA ) : This statute requires that the information furnished to consumer reporting agencies must be complete and accurate. By furnishing incorrect and misleading information to credit bureaus regarding my account, Mercedes-Benz Financial Services has breached this provision, resulting in an unjust negative impact on my credit report.

15 U.S.C. 1666b - Prompt Crediting of Payments : Under the Truth in Lending Act ( TILA ), creditors are mandated to promptly credit payments when made in accordance with the terms of the agreement. Mercedes-Benz Financial Services has refused to accept payment, thereby directly violating this statute. Their refusal obstructs my right to settle the alleged debt and clear my credit report.

12 CFR 1026.13 - Regulation Z - Billing Error Resolution : Regulation Z provides consumers with the right to dispute billing errors and obligates creditors to investigate and resolve disputes in a timely manner. Mercedes-Benz Financial Services has failed to comply with this requirement by not addressing my disputes adequately, nor have they corrected or provided evidence for the alleged errors in my account.

15 U.S.C. 1681b ( a ) ( 2 ) - Permissible Purposes of Consumer Reports : This section outlines the permissible purposes for obtaining a consumer report. Mercedes-Benz Financial Services has accessed my credit report without a legitimate purpose and has furnished inaccurate information without my explicit consent, infringing on my rights under this statute.

15 U.S.C. 1635 - Right of Rescission : In certain credit transactions, consumers have the right to rescind the agreement within a specific period. Mercedes-Benz Financial Services has not informed me of my right to rescind, nor have they provided an opportunity for me to exercise this right, further violating my consumer protections under the law.

15 U.S.C. 1692g - Validation of Debts : Under the Fair Debt Collection Practices Act ( FDCPA ), a debt collector must validate the debt upon the consumer 's request. Mercedes-Benz Financial Services has continued to furnish this account to the credit bureaus without providing proper validation, thereby failing to comply with this essential legal requirement.

15 U.S.C. 1692c - Communication in Connection with Debt Collection : The FDCPA regulates communications related to debt collection to protect consumers from harassment and abuse. Mercedes-Benz Financial Services has engaged in improper and possibly deceptive communication practices, including failing to provide clear and truthful information about the alleged debt and my rights to dispute it.

15 U.S.C. 1681e ( b ) - Compliance Procedures : Consumer reporting agencies and furnishers of credit information are required to follow reasonable procedures to ensure maximum accuracy of the information provided. By reporting erroneous and unverified information, Mercedes-Benz Financial Services has failed to adhere to these compliance procedures, resulting in substantial harm to my credit standing.

Request for Resolution : In light of these numerous violations of the FCRA, TILA, FDCPA, and associated federal regulations, I am formally requesting that the CFPB investigate this matter and take appropriate enforcement action. I demand the immediate and complete removal of this account from my credit report, as Mercedes-Benz Financial Services has furnished this information in bad faith and in direct contravention of federal law.

Their actions have not only deprived me of my legal rights but have also caused significant, unwarranted damage to my financial reputation. I seek full rectification of this situation, including the elimination of all negative information related to this account from my credit profile.

I appreciate the CFPB 's prompt attention to this serious matter and look forward to a swift resolution that upholds my rights as a consumer.

Sincerely,