Consumer complaint received 2024-05-14 00:00:00
Product: Vehicle loan or lease — Loan
Issue: Repossession — Damage caused or loss of personal items in vehicle during the actual repossession
Company: ALLY FINANCIAL INC.
State: TX

Complaint narrative:
On ( XX/XX/XXXX ), I notified this financial institution that I found several violations in our retail installment agreement from the consumer credit transaction that took place at the XXXX XXXX XXXX XXXX XXXX XXXX dealership on ( XX/XX/XXXX ), where I obtained my vehicle ( XXXX XXXX XXXX XXXX XXXX ). Due to the violations I found, I included in my notice sent that I am exercising my right to rescind our agreement pursuant to 15USC1635. This section of the law states I have 3 days from the date of the transaction and 3 years after the transaction to exercise my right to rescind. After I sent you my notice of rescission, I tendered the property obtained during this credit transaction to Ally Financial from the dates of ( XX/XX/XXXX ) - ( XX/XX/XXXX ) at my physical address located at ( XXXX XXXX XXXX XXXX XXXX, TX XXXX ). Ally Financial never provided my rescission disclosures that are mandatory under Truth In Lending or came to pick up the property tendered.Today, ( XX/XX/XXXX ), a third party company, XXXX XXXX XXXX XXXX XXXX, located at XXXX XXXX XXXX XXXX XXXX, TX XXXX, took nonjudicial action and stole my property without a court order, which is a violation of 15USC1692f. In my notice, I also exercised my nondisclosure option pursuant to 15USC6802 ( B ) that was not provided to me by your financial institution at the date of this consumer credit transaction. Ally Financial had no right to disclose my personal information to anyone. Under Article 8 of the UCC, The vehicle obtained through this consumer credit transaction was paid for in full with my finance application, which you also failed disclose before the retail installment agreement was initially signed. The total cost of the property obtained, shown in our agreement is {$33000.00} that I never received from Ally Financial. Since ( XX/XX/XXXX ), I paid Ally Financial a total of {$3400.00} in cash transactions under advertisement of false information by your company when my signature and social security paid off the full amount. According to 15USC1611 Criminal Liability for willful and knowing violation ; Whoever willfully and knowingly ( 1 ) gives false or inaccurate information or fails to provide information which he is required to disclose under the provisions of this subchapter or any regulation issued thereunder, ( 2 ) uses any chart or table authorized by the Bureau under section 1606 of this title in such a manner as to consistently understate theannual percentage rate determined under section 1606 ( a ) ( 1 ) ( A ) of this title, or ( 3 ) otherwise fails to comply with any requirement imposed under this subchapter, shall be fined not more than {$5000.00} or imprisoned not more than one year, or both. Pursuant to this section, Ally Financial failed to disclose that your financial institution made me a third party to an investment contract on the date of this transaction ( XX/XX/XXXX ). Ally Financial also failed to disclose my right to rescission pursuant to 15USC1635 at the date of this transaction and the interest your company profited off my security instrument without my knowledge or authorization.I am the original creditor in this credit transaction and according to Congress, Ally Financial or any financial institution shall not breach written agreements, use false and misleading advertisement and act without written authorization or the alleged borrowers knowledge, to transfer actual cash value from the alleged borrower to the bank, and then return it back as a loan while collecting interest. As shown in our original agreement, the cash transaction or downpayment of {$1000.00} was required by the car dealership XXXX in this consumer credit transaction which is a violation of 15USC 1662 ( 2 ) ; 15USC1605 ( c ) and 15USC1611 for advertising false information to a consumer when a finance charge does not include any cash transactions, but the sum of all charges for the property. According to 15USC1692 F - A debt collector may not use unfair or unconscionable means to collect or attempt to collect any debt. Without limiting the general application of the foregoing, the following conduct is a violation of this section : ( 6 ) Taking or threatening to take any nonjudicial action to effect dispossession or disablement of property if ( A ) there is no present right to possession of the property claimed as collateral through an enforceable security interest ; ( B ) there is no present intention to take possession of the property ; or ( C ) the property is exempt by law from such dispossession or disablement. My property obtained in this transaction, that my signature paid for in full on ( XX/XX/XXXX ), was stolen from me by a third party company named XXXX XXXX XXXX XXXX XXXX, located at XXXX XXXX XXXX XXXX XXXX, TX XXXX due to the actions your financial institution took to violate my rights. Pursuant to 15USC 1635 ( B ) RETURN OF MONEY OR PROPERTY FOLLOWING RESCISSION Ally Financial was given 20 days from my Rescission Notice sent on ( XX/XX/XXXX ) to pick up the tendered property from XXXX XXXX XXXX XXXX and failed to get the property. The law clearly states that ownership of the property now vests in the obligor without any obligation on my part to pay for it. Your violations listed in my original rescission notice sent on ( XX/XX/XXXX ), with the laws referenced, void our agreement and I revoked my signature on agreement your company may have on file. Since my property was stolen from me by a third party, I am hereby, demanding the title of the vehicle and the original instrument of indebtedness from Ally Financial, as I am the rightful holder. Ally Financial must contact the third party company, XXXX XXXX XXXX XXXX XXXX, located at XXXX XXXX XXXX XXXX XXXX, TX XXXX, that you had no right to disclose my info to pursuant to 15USC6802 ( B ), stole my property without a judicial order, with a notice to release the vehicle. Your company policy and everyday business practices are FRAUDULENT and against the law! Failure to release the title of the vehicle to the rightful holder, ( my signature paid it off ), send a notice to the third party who stole my property to release my vehicle from their yard, and compensate me for the damages caused by your financial institution within 10 days of the receipt of this certified notice shall result in legal action against your company for all violations committed.

Company public response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
Company response to consumer: Closed with explanation