Consumer complaint received 2024-11-08 00:00:00
Product: Credit card — General-purpose credit card or charge card
Issue: Struggling to pay your bill — Credit card company won't work with you while you're going through financial hardship
Company: ALLY FINANCIAL INC.
State: MD

Complaint narrative:
Where to begin with this XXXX XXXX XXXX company?! For starters, I indicated that I was experiencing a financial hardship and called initially to find out if there were any financial options, since I am one payment past due. However, during my first phone call I was told that I needed to callback because enough time had not passed and in order to qualify for the program because you had to be at least 2 payments past due. However, when I called back on today ( i.e. XX/XX/year> ) I was told that I finally qualified for the financial hardship program and was offered to pay as low as {$10.00} a month for 6 months in the " fixed '' program where I would not be able to use my credit card, my interest rate would be decreased from 30.49 % variable interest rate to 0 % fixed rate, no late fees would be applied, and after making my payments consecutively on time for 3 months ; my account would be considered " current ''. I also confirmed that after accepting the offering, I would receive an email packet with all of the terms and conditions. What didn't seem logical was the fact that Ally Bank LITERALLY will continue to report your account delinquent during the 3 month period where you are paying your first payments to bring your account current. When I asked about Ally Bank and why they would purposefully report incorrect information even though consumers are making payments as part of the financial hardship program both representatives that I spoke advised that " they could not provide me with this information '' but then the first agent that I spoke with stated that " payments are reported as negative/or derogatory to the credit bureau once they are 60 days past due '', then the other agent stated that " payments are reported to the credit bureau once they are 30 days past due ''. Based on this information, I decided not to enroll in the financial hardship program because when payments are reported late this decreases your credit score and your credit rating, however, Ally Bank is aware that they are breaking the ( FCRA ) Fair Credit Reporting Act and could care less as they are deeply committed to abusing their power as a bank, so that they can achieve their financial goals. This is the equivalent of kicking someone in the face then acting as though they didn't kick you in the face ( i.e. kicking someone while they are down ). This abuse of power in conjunction with force, coercion, deception, and monstrous behavior that Ally Bank uses should be taken lightly as their agents have been trained to be completely oblivious to any information that you provide to them and merely keep asking you repetitively " if you would like to enroll in the program '' ; offering you no other options because they have offered you an option " that is too good to be true '' just for you to end up with incorrect/and inaccurate information reported ON PURPOSE by Ally Bank .

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