Consumer complaint received 2020-07-02 00:00:00
Product: Credit reporting, credit repair services, or other personal consumer reports — Credit reporting
Issue: Incorrect information on your report — Account information incorrect
Company: ALLY FINANCIAL INC.
State: MO

Complaint narrative:
Ally Financial will not report on time payments from XX/XX/XXXX to XX/XX/XXXX. Numerous attempts were made to no avail ; they could care less. It's affecting my credit, costing me more interest and could effect my mortgage loan rate when we close on XX/XX/XXXX. Attached you will find where Ally shows a balance that was paid off in the amount of {$24000.00}. This is not accurate. See below for more information The payoff amount was actually $ XXXX..this is because we paid down the balance of {$24000.00} with our monthly payments and a balloon payment of {$1800.00}. Ally has refused to report the payments from XXXX through XXXX and instead are just reporting a balance paid off which is INCORRECT. They are required to report this accurately and correctly. They are not. Upon reviewing my credit report which is attached you will see from XXXX XXXX they have not reported a payment since XXXX of XXXX. It is my belief that they have cost me money with higher interest rates on my refinance in additional to having hurt my credit score by not reporting payments on this installment account. We close in TWO weeks on our construction loan and the difference in a 10 point increase in my score could save me $ XXXX over the course of our mortgage loan. This is not right and they need to be held accountable. I called Ally on XX/XX/XXXX and was told a supervisor would call me back. I received a call from a XXXX on XX/XX/XXXX who stated she would call me back on Tuesday, XX/XX/XXXX. That did not occur. So I called back in and got a hold of XXXX and she was very rude and abrasive. She told me theyre reporting the balance paid off and its correct. She ignored the fact that the credit bureaus, ALL OF THEM, have not reported payments since XXXX and that the balance is wrong. XXXX should be terminated immediately for her behavior and her inability to properly correct the information. I had asked for a supervisor to call me back and that did not occur either. I was told her supervisors name XXXX XXXX. I called back in again today and asked for XXXX supervisor and asked for a callback and nothing. They continue to LIE, and they are making no effort to rectify the issue. The State of Missouri should make them pay for this and we intend to sue Ally Financial if this is not corrected and the payments reported each month correctly and the balance that they showed for six months was incorrect. During this time two credit cards actually lowered my credit limit because of high installment loan balance that was not moving down because Ally was not reporting it. This alone is enough for real damages. This is completely unacceptable and as a consumer I am afforded rights. They are violating multiple state and federal laws. This can not be allowed.

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