Consumer complaint received 2025-05-09 00:00:00
Product: Credit reporting or other personal consumer reports — Credit reporting
Issue: Problem with a company's investigation into an existing problem — Their investigation did not fix an error on your report
Company: TOYOTA MOTOR CREDIT CORPORATION
State: WI

Complaint narrative:
I am rejecting this response because : Im writing to follow up once again regarding the dispute over the alleged debt tied to the above-referenced account and vehicle. Im disappointedbut not surprisedby the template response I received, which sidestepped nearly every important point Ive raised. 

Lets set the record straight. 

First, I lawfully rescinded the contract in writing on XX/XX/year> and XX/XX/year>, and sent it via Certified Mail # XXXX. Under 15 U.S.C. 1635 and 12 CFR 1026.23, that notice shouldve triggered a 20-day countdown for you to return my property and terminate any related lien. Instead, you ignored the rescission and seized the vehicle unlawfully. If you believe no such rescission right exists, please explain how and why federal statutes do not apply to your entitybecause your form response to the XXXX and CFPB did not answer that. 

Second, your claim that payments can only be made in U.S. dollars is not a lawful basis to reject a negotiable instrument. I tendered such an instrument in accordance with UCC Articles 3 and 4. If it was dishonored, you were obligated under UCC 3-505 to return it with a valid reason. You didnt. You kept it. So either you accepted it or you violated the law. Which is it? 

Third, your continued position that Toyota still owns this debt contradicts your own record. The amount of {$12000.00} has been charged off and assigned to XXXX XXXX XXXX Thats a sale. If you didnt sell the debt, then you owe me a clear explanation for why a third party is now collecting it, and why XXXX is listed in communications and filings. You can not maintain ownership and assign collection rights simultaneously without fully disclosing the financial transactionotherwise, thats double-dipping.

You also failed to issue any 1099-C, despite asserting the debt is charged off. That contradicts IRS reporting requirements under 26 U.S.C. 6050P. Are you claiming you are exempt from that reporting requirement as well?

Next, the contract you rely on was a photocopy. As you must know, under evidentiary standards and commercial law, a photocopy is not equivalent to an original wet ink signature, particularly when disputed. The burden is on you to show the original, enforceable obligationwhich you havent. 

Im still waiting for specific answers to simple, critical questions : - Why did you not respond to the rescission in XXXX?

- Why was the negotiable instrument retained with no response or dishonor notice? 
- Why is XXXX collecting on something you claim you still own? 
- Why was no 1099-C issued after charge-off?

- Why havent you returned the property or provided a valid, lawful rebuttal with evidence and affidavit?

Youre attempting to enforce a financial obligation after ignoring key facts, processes, and laws. Thats not just bad practiceits commercial fraud.

Ive already submitted copies of the proof to the CFPB and XXXX Im not interested in going in circles. I am demanding immediate removal of all derogatory credit reporting, return of the property, or a settlement of {$100000.00} for the unlawful seizure, damage to my credit, and the ongoing harm to my livelihood. 

If you continue to ignore these points, I will escalate this matter with the IRS, FINCEN, and the U.S. Attorney. Consider this your final opportunity to resolve this before formal legal proceedings commence.

Company response to consumer: Closed with explanation