Consumer complaint received 2022-05-26
Product: Vehicle loan or lease — Loan
Issue: Problem with a credit reporting company's investigation into an existing problem — Investigation took more than 30 days
Company: CarMax, Inc. (OR)

I am a co-signer of a car loan my sister took out with the CarMax corporation for a XXXX XXXX XXXX, XXXX : XXXX. 

On XX/XX/XXXX at around XXXXXXXX XXXX. PST my sister paid a car payment through the app ( see attachment " CarMax Receipt Of Payment XX/XX/XXXX, XXXX '' for Confirmation Number and amount paid ). This is the payment DATE that both the smartphone apps and our invoices said her payment was due by. No payment TIME ( e.g., XXXX PST ) was specified in written form -- either in the App, App Terms of Conditions, Invoices, Website, Contract we signed, etc. ( see relevant attachments : CarMax App Payment Date ( No Time ) XXXX, CarMax Online Account XXXX XXXX XXXX CarMaxXXXX XXXX 

On XX/XX/XXXX, my credit report showed that there was a missed payment and that CarMax had reported to the credit agency that a payment was missed for the car loan ( see XXXX Showing Missed Payment Report From XXXX ). After my sister and I both called that day, they informed us that their credit processors are on Eastern Time and so the payment TIME was missed. 

My sister filed a dispute XX/XX/XXXX or XX/XX/XXXX with XXXX. After a couple or few days later I also called and filed a dispute through CarMax 's hotline. Both disputes were denied, citing that CarMax said the information they reported of the missed payment and due DATE were correct. Interestingly to note, however, is that in the XXXX report ( Attached as XXXX ) in the " Results of Our Investigation '' table, it says that the payment amount was required XX/XX/XXXX of {$330.00} and the actual payment amount was XX/XX/XXXX of {$340.00} and the " Date of 1st Delinquency '' column is empty in the row, which all sums to indicate that there should be no delinquency, despite them still claiming in the column XX/XX/XXXX in the " Historical Account Information '' table that there was an amount past due ( likely because CarMax did not specify a TIME the payment processed ). 

On XX/XX/XXXX, I called Carmax 's Credit Maintenance Department at XXXX for one last try to not escalate things further to other agencies and see if they would resolve the misreporting. On this call they claimed again the time was on the invoice but, after some investigations and being put on hold multiple times, they could not find it there or in any other documentation. The only thing they could say was that my sister was told to pay on the payment DATE whenever she called in, was not told a time, and that they wait until the close of the business day ( which is eastern time, though they say this nowhere ). They said that they would not resolve the issue or write me any document declaring they do not specify a time, as they did not have the power to do that as their legal team had drafted all the documentation and therefore inferred I would have to escalate the issue on my own if I wanted it to be remedied. 

Since the TIME was not specified for when the payment was due, I do not believe it is legal or fair for CarMax to report that the payment was missed. This inaccuracy costs me and my sister both a fair amount of money when considering buying a house using a mortgage, pursuing other credit offers, etc. as well as time involved trying to fix this. We have tried every avenue with CarMax for them to resolve the issue, but they are unwilling to do so, which compels us to report to other agencies and hope for a resolution that way.