Consumer complaint received 2023-04-02 00:00:00
Product: Vehicle loan or lease — Loan
Issue: Managing the loan or lease — Billing problem
Company: TOYOTA MOTOR CREDIT CORPORATION
State: CA

Complaint narrative:
My purpose is to formally dispute a billing mistake from Toyota Financial, which has negatively impacted my life-long clean credit history and high XXXX credit score. On XX/XX/XXXX, I paid off the outstanding balance of on my XXXX XXXX. Records indicate that on the following bills, for XX/XX/XXXX and XX/XX/XXXX my outstanding balance was still {$0.00}. I contacted Toyota Financial on XX/XX/XXXX via my online portal to inquire about my vehicles Title/Pink Slip , which I had not received from Toyota Financial or the Department of Motor Vehicles ( DMV ). I received a reply from Toyota Financial via my online portal and via email, that it could take up to four weeks to receive this document from the state. I was even congratulated, by Toyota Financial, in writing, for paying off my vehicle! On XX/XX/XXXX I contacted Toyota Financial Services via phone to inquire about my Title/Pink Slip , again, before contacting the DMV. I was informed by an agent that due to the high volume of requests sometimes these processes took longer than expected and I should be receiving my vehicles title in the mail soon. So, as a loyal customer, I waited.

Based on my recurring credit report information from XXXX and my XXXX score report via XXXX XXXX on XX/XX/XXXX, I was shocked to see that I was at 98 % completion of my Toyota Financial loan payoff. To my surprise, I was also considered DELINQUENT by this acreditor! I checked my Toyota Financial online portal to see any recent updates on my account. I still saw a {$0.00} outstanding balance ; so, I automatically contacted Toyota Financial. I was more shocked when I realized I had been blocked from all direct contact with Toyota Financial and was forwarded to their collections department. I spoke to a female agent who seemed perplexed with the explanation of my situation, since she also saw a {$0.00} outstanding balance on my account. After a long wait over the phone, she informed me of finding an ambiguous fee on her system ; it was a balance of {$0.00} on my account. I asked about this charge and she could not provide me with feedback ; however, she offered to waive this fee of XXXX XXXX. I agreed and asked her to transfer me to a manager or supervisor. I wanted to explain this incident and to formally file a complaint. I wanted to see how we could further proceed with this unexplainable mistake from Toyota Financial. I had a gut feeling that it would affect my life-long clean credit history and high XXXX credit score, negatively. The male manager I was forwarded to was rude and unempathetic. I asked if I could formally place a complaint based on this unfortunate experience and he had me repeat the same details multiple times. He confirmed that the waived fee was not promised ; so, I offered to pay {$0.00}. First, he shared he could not take a miniscule payment of this amount because the system would not allow it. So, I was sent to collection for a MINISCULE and AMBIGUOUS outstanding balance of XXXX XXXX ; however, Toyota Financial will not take a payment for this amount?! This is simply RIDICULOUS of this innovative corporation. I was a loyal customer, believed, and spoke highly of their services until this unfair and frustrating experience. Then, the same male manager stated that I must pay a minimum of {$10.00} to proceed, which I automatically refused! I did not want to become liable for this higher amount on formal documentation anywhere ; so I denied and requested a different solution. After an hour on the phone, he found another provider to make the money transfer and I paid a total of {$1.00} on my debit card, to cover the {$0.00} fee that I was sent to the collections department for. 

On XX/XX/XXXX, I contacted Toyota Financial and filed a formal dispute over the phone because, as I expected, due to this inconvenience from their corporation, my life-long clean credit history and high XXXX credit score has been significantly impacted! I would like to know how Toyota Financial can remediate this inexplicable error which has negatively affected the financial responsibility I have held my entire life. To this day, I still do not know why that {$0.00} fee was charged on my account ; especially, why I was sent to the COLLECTIONS AND DELINQUENCY DEPARTMENT. I have received a letter from a life-long valued accreditor, which I have been customer, that my credit line has decreased due to delinquency with one of my acreditors. Unbelievable, Toyota Financial! Nonetheless, my current home-buying plan will have to be postponed due to my credit score lowering significantly because of this insane and unfair mistake from their team. My current vehicle upgrade plan, through their corporation, will also have to be canceled after this negative experience.

Company response to consumer: Closed with non-monetary relief