Consumer complaint received 2024-10-10 00:00:00
Product: Credit reporting or other personal consumer reports — Credit reporting
Issue: Incorrect information on your report — Account information incorrect
Company: ALLY FINANCIAL INC.
State: NY

Complaint narrative:
**SUBJECT : URGENT NOTICE OF DISPUTE AND DEMAND FOR LATE PAYMENT REMOVAL** Dear ALLY FINANCIAL, I am writing to express my deep frustration and grave concern regarding the inaccurate reporting of late payments by your organization on my credit report. These late payments, which I believe are unjust and incorrect, have caused significant harm to my financial standing, and I demand immediate action to rectify this issue. The impact these errors are having on my livelihood is profound, affecting both my ability to secure essential financial opportunities and my overall well-being. 
The late payments in question are associated with the following account : - XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX The presence of these erroneous late payments has significantly damaged my credit score, which has had a direct, negative effect on my ability to apply for loans, mortgages, and even impacted my employment prospects. This unjust reporting has caused me financial hardship and emotional distress, as I have been denied opportunities that are critical to my ability to provide for myself and my family. 
As you are aware, ALLY FINANCIAL has a legal obligation to report accurate information to the credit bureaus. These late payments are not reflective of my true payment history, and I firmly believe that your failure to ensure accurate reporting is in violation of the Fair Credit Reporting Act ( FCRA ). I hereby demand the immediate removal of these late payments from my credit report in accordance with the FCRA and related laws. 
Additionally, I would like to remind you of the arbitration clause in our original agreement. This clause outlines a formal mechanism for dispute resolution, which we both agreed to. While I hope to resolve this issue amicably without invoking arbitration, I am fully prepared to pursue arbitration if necessary. This process could entail significant costs and fees for both parties, including the arbitration initiation fee, the arbitrator 's deposit, and other legal costs. I sincerely hope we can avoid such a process by promptly addressing this issue. 
I propose the following options for resolution : ** **Option 1 : Immediate Removal of Late Payments* hi, XXXX, requested your organization promptly remove these late payments for my credit report rectify XXXX accuracies any sure that my credit report is accurately represented Options 2 : initiate arbitration. If I leave banker financial chooses not to remove the late payment I am prepared to initiate arbitration proceedings. This price of me involves substantial cost, including those related to arbitration and any legal fees incurred which I am seek to remove in full due to the harm caused. 

I believe that an amicable resolution is in the best interest of both parties. However, I am fully prepared to pursue all necessary steps to protect my rights and ensure that these unjust and damaging inaccuracies are corrected. Please respond to this notice within [ insert reasonable time frame ] to confirm your willingness to remove the late payments or to express your intent to proceed with arbitration. 
Thank you for your immediate attention to this matter. The continued presence of these inaccurate late payments is jeopardizing my financial future and my ability to provide for myself and my family. I look forward to your prompt response and swift resolution of this critical issue. 

XXXX XXXX

Company response to consumer: Closed with explanation