Consumer complaint received 2024-10-17
Product: Vehicle loan or lease — Loan
Issue: Repossession — Damage caused or loss of personal items in vehicle during the actual repossession
Company: Larry H. Miller Group of Companies (MI)

To Whom It May Concern at the CFPB, I am writing to formally file a complaint regarding a negative account on my credit report associated with a XXXX XXXX XXXX financed through Prestige Financial. This vehicle has been reporting negatively on my credit for over five years, significantly impacting my financial stability and quality of life. 

I purchased the vehicle on XX/XX/XXXX, for {$16000.00}. Shortly after the purchase, I became aware the issues the year and make XXXX I had. A federal class action lawsuit against XXXX, which claims that XXXX vehicles equipped with the XXXX XXXX XXXX engines were sold with defective rotating assemblies, leading to sudden and catastrophic engine failure. This information is public and has been documented for years. XXXX has acknowledged my vehicle 's involvement in this lawsuit through several correspondence letters. 

Within months of acquiring the XXXX, I encountered numerous issues with the ignition, engine, and fuel injector, leading to repairs that totaled approximately {$8000.00}. Ultimately, this vehicle was deemed a lemon law vehicle and is no longer operational. Despite this, Prestige Financial continues to report negative information to all three credit bureaus, treating this debt as if it were still my responsibility. 

The vehicle was picked up and charged off on XX/XX/XXXX. However, I was alarmed to discover that Prestige Financial closed the account in XX/XX/XXXX, despite having previously confirmed that it had been charged off five years ago. This action is misleading and illegal under the Fair Credit Reporting Act ( FCRA ), which mandates that information reported to credit bureaus must be accurate and complete. 

Currently, Prestige Financial is reporting an inflated debt amount of over {$32000.00}, which includes late fees and penalties. This situation has caused immense stress and hardship in my life. As a XXXXyear-old mother of XXXX, I am unable to purchase a home or secure a loan for my daughter 's first year of college due to this unjust debt. 

I want to emphasize that XXXX should be held accountable for the issues with this lemon law vehicle, not me. It is unjust for me to bear the financial burden of a vehicle that was sold to me with known defects. Instead, any actions regarding this debt should be directed toward XXXX, as they are the responsible party in this situation. 

I have made multiple attempts to dispute this matter with Prestige Financial, but my claims have consistently been denied. Additionally, their reporting contains inaccuracies ; my credit report indicates that I was still making payments in XXXX and XXXX, despite the vehicle being picked up in XX/XX/XXXX. This misinformation is entirely false and appears to be an attempt to obligate me to a debt that I do not owe. 

In contrast, the other XXXX XXXX XXXX I financed through a different lender was removed from my credit report without any issues, highlighting the inconsistency in how these matters are handled. 

I have documentation to support all of my claims, including correspondence from XXXX regarding the class action lawsuit, repair bills, and communication I have had with Prestige Financial. I believe that my situation may fall under violations of several sections of the U.S. Code, including : - 15 U.S.C. 1681 - Fair Credit Reporting Act ( FCRA ), which mandates that credit reporting agencies and furnishers of information maintain accurate and complete information in consumer reports. 
- 15 U.S.C. 1692 - Fair Debt Collection Practices Act ( FDCPA ), which governs the practices of debt collectors and aims to eliminate abusive debt collection practices.

- 15 U.S.C. 1639 - Provisions related to the Truth in Lending Act that require lenders to provide clear and accurate information regarding finance charges and other terms of the credit.

- 15 U.S.C. 1691 - Equal Credit Opportunity Act ( ECOA ), which prohibits discrimination in any aspect of a credit transaction and requires lenders to provide accurate information about creditworthiness. 

Given the circumstances, I am seeking your assistance in resolving this matter. I believe that I deserve justice and relief from this erroneous debt reporting, which has caused significant hardship and emotional distress in my life. Thank you for your attention to this matter.