Consumer complaint received 2024-12-25 00:00:00
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: BMW Financial Services NA, LLC
State: MO

Complaint narrative:
Complaint Regarding Inaccurate Credit Reporting by BMW Financial Services Discrepancies in Credit Report Balances and Improper Reporting Practices Account # : XXXX My auto loan with BMW Financial Services was charged off as of XX/XX/XXXX. 
Despite this charge-off, BMW Financial Services reopened the account on XX/XX/XXXX, and reported XXXX missed payments. 
2. Discrepancy in Reported Balances : The balance reported across the three major credit bureaus is inconsistent : XXXX : {$0.00} balance and listed as charged off. 
XXXX : {$19000.00} balance, listed as charged off. 
XXXX : {$38000.00} balance, listed as charged off. 
XXXX. Issues Identified : Account Reopening : BMW Financial Services reopened a previously closed account and reported additional delinquencies, which appears to be an attempt to retroactively harm my credit score.

Balance Inconsistencies : The balances reported across the three credit bureaus do not match and fail to align with the accounts charged-off status.

Potential Violation of State and Federal Laws : Under Missouri state law, improper practices in debt collection or credit reporting may constitute unfair and deceptive practices. 
Federal laws, including the Fair Credit Reporting Act ( FCRA ), require accurate and consistent reporting.

4. Request for Investigation : I request that the CFPB investigate BMW Financial Services for these irregularities.

The reopening of a charged-off account and the reporting of inconsistent balances are damaging to my creditworthiness and may constitute unlawful reporting practices.

5. Attachments : Screenshots of credit bureau reports showing the discrepancies in balances and reporting details. 


This account was closed as of XX/XX/XXXX. I have no documentation indicating that the account was reopened legitimately or why new negative information is being reported. Reopening a charged-off account and reporting new derogatory information appears to be a false representation of the accounts status, potentially violating the Missouri Merchandising Practices Act ( RSMo 407.020 ). Under this law, it is unlawful to engage in unfair or deceptive practices that harm consumers financially.

Violation of Missouri State Law The actions described may also constitute unfair or deceptive practices under Missouris consumer protection laws. The inaccurate reporting of late payments and the reopening of a charged-off account without proper basis are misleading and cause undue financial harm. I reserve the right to escalate this matter to the Missouri Attorney Generals Office if the inaccuracies are not corrected promptly.

Requested Action I kindly request that you : 1. Investigate the BMW Financial Services account and verify its reporting accuracy.

2. Remove any inaccurate late payment history that occurred after the charge-off date ( XX/XX/XXXX ). 
3. Confirm whether the account was reopened legitimately or close it with the original charge-off date reflected. 

I have attached supporting documents to assist with your investigation, including : A copy of my credit report highlighting the errors. 
BMW Financial Services correspondence. 

Please conduct your investigation in compliance with the FCRA and state laws and provide me with the results within the required timeframe. If you find the information to be inaccurate, I request that you update my credit report to reflect the corrected details. 


Requested Resolution : Remove the inaccurate reporting from all three credit bureaus ( XXXX, XXXX, and XXXX ). 
Investigate BMW Financial Services reporting practices to ensure compliance with FCRA and Missouri state law.

Company response to consumer: Closed with explanation