Consumer complaint received 2017-11-21
Product: Credit reporting, credit repair services, or other personal consumer reports — Credit reporting
Issue: Problem with a credit reporting company's investigation into an existing problem — Problem with personal statement of dispute
Company: BMW Financial Services NA, LLC (FL)

To : BMW Financial XXXX From : XXXX XXXX Account number : XXXX To whom it may concern, my name is XXXX XXXX. The reason for this correspondence is to try to get some discrepancies straight that have been posted to my credit report by BMW Financial.Ourordeal began last XXXX of XXXX when my wife purchased the car that she always wanted from BMW of XXXX. The customer service at the dealership was spectacular leaving us with the impression that we were in good hands. My wife picked out the XXXX as the car that she wanted. As her loving husband I co-signed for the car knowing that she had a good history of paying her previous car note on time and so that she could get a better interest rate for the financing of the car. When the dealership ran my credit, I had a current credit score of XXXX, with all of my accounts in good standings. I 've worked extremely hard throughout the years to build my credit to the point where it was at. With my credit score and co-signature we were able to obtain a XXXX XXXX rate for the loan and all was well. The sells representativetold us that our first payment would n't be due until XXXX XXXX, since we were buying the car in XXXX. At this point my wife turned to me andwe discussed her using this extra month with no payment dueas a buffer month to pay her car note andalways be a month ahead.I left the dealership that day happy and proud that I was able to help my wife accomplish one of her goals. 

6 or 7 months had passed and I was in a department store ( XXXX XXXX  ). I decided to apply for a XXXX XXXX credit line. The store returned with my credit app and extended me a low credit line. I was flabbergasted at the credit line offer due to my previous credit score. The store then explain that there were some derogatory accounts added to my credit report. I then objected to the claims of the derogatory accounts posted to my credit file. They then read off the derogatory accounts, that were all fromBMW Financial. I immediately called my wife to get to the bottom of this, knowing that this must be reportedin error. My wife was baffled by the situation and did n't understand how they were saying that she was late on her payments. That night we went through her payments and saw that she made her payments monthly so we could n't  understand why BMW Financial would report them as late. The entire time I 'm thinking if she was late someone would have notified me as the cosigner, rather than report it directlyon my credit. So I believed that this all was some type of mistake. 

The next day I contacted BMW Financial, the customer service representative explained that the car payment was originallylate from the first payment. I explained to him that this must be a mistake since she had made a payment in XXXX, putting her a payment ahead of the payment schedule. He then explained that there was a payment due in XXXX when she made her first payment to be a payment ahead of schedule. I explained to him then that the sales represenative from BMW of XXXXinformed us that the first payment would'nt be due untilXXXX.He explained thatI would need tocontact the dealership to have thepayment history straighted out. We then went through the entire payment history to find out why I was never notified of her being late and why it took so long to post to my credit if she was late from the beginning. He explained that she never made a payment in XXXX so that was when the payment actually started accure late days ( 29 to be exact ) .She did n't make a payment in XXXX because she thought that her early payment in XXXX satisfied the first month payment that was due in XXXX. If you look at her actualpayment history? It 's obviousthatwe were under the impression that the first payment was n't due until XXXXShe made the second payment 2 days earlyon XXXX when the payment was actually due on XXXX ( at this point the payment was actually late 29 days ). The third payment was made on XXXX/XXXX/XXXX 5 days before the actual due date of XXXX/XXXX/XXXX ( at this point the payment was actually 26 days late ). Her fourth payment was paid on XXXX/XXXX/XXXX 6 days after the actaul due date of XXXX/XXXX/XXXX ( this wasthe first time thepayments actually reached 30 days past due with an actaul days late being 37 ). The fifth payment was made on the XXXX/XXXX/XXXX 6 days after the actual due date of XXXX/XXXX/XXXX ( at this point the payment was actually 34 days late ). The sixth payment was made on XXXX/XXXX/XXXX 3 days after the actual due date of XXXX/XXXX/XXXX ( at this point the payment was actually 34 days late ). XXXX was also the month when we found out through XXXX XXXX that we were late on the car payments. Ever since the late payments were brought to my attention, I 've been trying to understand why it for me to apply for credit at XXXXfor me get proper notification of late payments being posted to my credit file? I explained to thecustomer service represenative my concerns about this in which he apologized and stated that BMW financial would review my file and straightenit out. 

The next day I contactedthe dealership to express my displeasure of being misinformed on very pertinent information. I explained to the Manager and finance departmentat the dealershipthe entire ordeal and explained thatwe were soley following the instructions from the represenative that sold us the car. The finance department explained that BMW financial is a great lender and as long as the payment was made to bring the account to good standing that they would get to the bottom of the miscommunication and straighten out my credit file. It'sbeen 5 months since I brought this to the attention of all parties involved and have had yet to have my credit report corrected.If the salesman would 've correctlyinformed us that the first payment was due in XXXX, I can assure you that if we knew that the first payment was due in XXXX we would 've have never had a late payment.Ever since we 've caught thiserror, the account has been paid on time and is in good standings.If you could please investigate my claims and correct my credit file in which I 've worked so hard tobuild up? I would greatly appreciate it. I 'm sorry for such long correspondence but I felt that the entire ordeal should be explained to fully understand my concerns. I asking the the derogatory late payments be removed from my credit file. I 'm also asking for immediate notification as the co-signer of ANY possible late payments. I pay all of my bills and obligations on time, and would love to prevent anything like this from ever happening again. 
Update : BMW of XXXX wrote a letter to BMW Financial assuming responsibility for the miscommunication ( The only letter they 've ever written to BMW Financial ). BMW Financial still refuses to remove the negative remarks from report. 


Sincerely, XXXX XXXX Cell, XXXX Email, XXXXXXXXXXXX Sent on a XXXX XXXX XXXX XXXX XXXX