Consumer complaint received 2025-01-03 00:00:00
Product: Credit reporting or other personal consumer reports — Credit reporting
Issue: Problem with a company's investigation into an existing problem — Was not notified of investigation status or results
Company: TOYOTA MOTOR CREDIT CORPORATION
State: DC

Complaint narrative:
I am filing this complaint regarding a repossession reported by Mazda Financial Services, which has negatively impacted my credit report. As a co-signer on the vehicle loan account, I have serious concerns about the companys failure to notify me of the repossession, my rights, or the status of the investigation I initiated. 

Timeline of Events : 1. Repossessed Vehicle Notification ( Date Unknown ) : The vehicle in question was repossessed. I only learned of this event through the primary borrower, not Mazda Financial Services. I was not contacted about the repossession or provided any correspondence about my rights as a co-signer, including my right to cure the default or reclaim the vehicle. 
2. Initial Contact with Mazda Financial Services in XXXX or so no exact date : Upon learning about the repossession, I immediately contacted Mazda Financial Services. During this call, I provided my updated address and requested details about the repossession process. I was told they would send me a notice, but I never received it. 
3. Credit Report Impact XX/XX/year> : A repossession entry appeared on my credit report. I believe this was reported prematurely and without proper communication, violating Uniform Commercial Code ( UCC ) Section 9-611, which mandates that all obligors ( including co-signers ) must be notified of a repossession in a timely manner. 
4. Initial Dispute Submission XX/XX/year> : I submitted a dispute to Mazda Financial Services, outlining their failure to notify me and requesting that the repossession entry be removed from my credit report. 
5. Mazdas Lack of Communication : Despite their obligation to update me, Mazda Financial Services failed to notify me of the status or outcome of their investigation. I contacted them on XX/XX/year>, and they assured me I would receive a call with an update. However, I never received any direct communication from them. Instead, I learned through XXXX XXXX that they decided to retain the repossession entry on my credit report with the remark, Consumer disputes after resolution involuntary repossession. 
6. Current Status of the Vehicle : I was informed the vehicle is still at auction because I Called them. However, I have no interest in reclaiming the vehicle ; my primary concern is the improper handling of the repossession process and the resulting damage to my credit. 

Key Issues : 1. Failure to Notify : Mazda Financial Services did not comply with legal requirements to notify me, as a co-signer, of the repossession or provide me with an opportunity to cure the default. 
2. Improper Reporting : The repossession was reported to credit bureaus without affording me the proper notice or opportunity to address the matter. 
3. Failure to Update on Investigation : Despite initiating a dispute, I was not properly updated about the investigations progress or outcome and had to rely on a third-party service ( XXXX XXXX ) to learn of their decision. 

Resolution Requested : I request that the Consumer Financial Protection Bureau investigate this matter thoroughly and that Mazda Financial Services : 1. Provide documentation proving they complied with notification requirements, including when and where notices were sent. 
2. Remove the repossession entry from my credit report due to their failure to comply with notification laws and proper dispute handling processes. 
3. Ensure timely and accurate communication with co-signers in all future cases. 

I am submitting this complaint because Mazda Financial Services actions have caused significant harm to my credit and were not handled in a lawful or transparent manner.

Company response to consumer: Closed with explanation