Consumer complaint received 2024-12-18 00:00:00
Product: Vehicle loan or lease — Loan
Issue: Managing the loan or lease — Billing problem
Company: FORD MOTOR CREDIT CO.
State: CA

Complaint narrative:
I am formally lodging a complaint against Ford Credit Company LLC for failing to comply with my right to rescind the retail installment contract pursuant to 15 USC 1635 ( a ). This contract, entered on XX/XX/year>, contained nondisclosure 's that rendered the agreement between myself, XXXX XXXX, and Ford Credit Company LLC fraudulent. As a result, I am exercising my right to rescind the entire contract under the Truth in Lending Act. 

On XX/XX/year>, I visited the XXXX XXXX XXXX dealership to purchase a vehicle. I decided on a XXXX  XXXX XXXX XXXX. After negotiations, XXXX XXXX XXXX ran my credit and received approval from Ford Credit Company LLC to finance the vehicle. At the signing, I requested to sign manually to assert my rights, but XXXX XXXX XXXX XXXX denied my request. Despite finding this unusual, I proceeded with finalizing the paperwork. 

On XX/XX/year>, I thoroughly reviewed the Retail Installment Contract and noticed several disclosures were missing, which I, as the consumer, am entitled to under the Truth in Lending Act and the Gramm-Leach-Bailey Act. 

In XX/XX/year>, I received communication and a bill from Ford Credit Company LLC. I then issued a notice of reservation of rights to Ford Credit Company LLC, highlighting the missing disclosures. I decided to continue performing under the contract in good faith and tendered a repayment. 

On XX/XX/year>, I tendered a repayment in U.S. funds through a negotiable instrument, as outlined in UCC 3-104, to Ford Credit Company LLC for {$100000.00}, in good faith for the goods or services provided. After my account did not reflect this payment, I contacted Ford Credit Company LLC. Their agents informed me that they would not accept the payment amount I had tendered. Consequently, I decided to tender the correct payment amount for the payout at that time. 

On XX/XX/year>, I tendered a repayment in U.S. funds through a negotiable instrument, as outlined in UCC 3-104, to Ford Credit Company for {$51000.00}, in good faith for the goods or services provided. When my account still did not reflect this payment, I waited for Ford Credit Company to contact me. A few weeks later, Ford Credit Company LLC communicated via mail, stating they would not honor my payments and would not accept any future presentments. 

After multiple attempts to resolve this issue in good faith and pointing out the nondisclosure 's in the retail installment contract, I decided to exercise my rights under the Truth in Lending Act. 

The following disclosures are missing from the contract : Full disclosure of my rights to rescind, per 15 USC 1635. 
Transparency regarding the process of the consumer credit application being a financial asset, per 12 CFR 360.6 ( 2 ). 
Information on self-liquidating paper, per 17 CFR 260.11b- ( 6 ). I believe XXXX XXXX XXXX and Ford Credit Company LLC knowingly took advantage of me and my consumer credit. 
The right to opt-out of furnishing certain information to any CRAs, per the Gramm-Leach-Bailey Act, 15 U.S. Code 6802 ( a ) ( b ), 15 U.S. Code 6803 ( a ) ( 1 ). 
Holder in Due Course disclosure, per 16 CFR 433.2 - Preservation of consumers ' claims and defenses. The Federal Trade Commission Rule Manual states that this disclosure can not have additional notations, symbols, or language that would restrict its applicability. I found such notations that restrict its applicability. 

Due to these issues, the consumer may assert a right not to pay all or part of the outstanding balance owed to the creditor, by way of claim or defense. Additionally, this represents a breach of contract under UCC Article 2-609 for the sale of goods, and UCC Article 3-603 for negotiable instruments and non-performance, including dishonoring two negotiable instruments for the amounts of {$100000.00} and {$51000.00}.

Company response to consumer: Closed with explanation