Consumer complaint received 2025-02-18 00:00:00
Product: Credit reporting or other personal consumer reports — Credit reporting
Issue: Problem with a company's investigation into an existing problem — Problem with personal statement of dispute
Company: TOYOTA MOTOR CREDIT CORPORATION
State: IL

Complaint narrative:
RE CFPB Case Number : XXXX On XX/XX/XXXX, I received a notification from XXXX XXXX stating that Toyota Financial Services ( TFS ) had reported late payments for the months of XXXX through XX/XX/XXXX on my credit report. However, this reporting is inaccurate and misleading given the terms outlined in TFSs own Right to Cure letter. 

On XX/XX/XXXX, my electronic virtual mailbox system through XXXX notified me that I had received a Right to Cure Your Default letter from TFS, dated XX/XX/XXXX. The letter explicitly stated : If you pay the AMOUNT NOW DUE ( {$950.00} ) by the LAST DAY FOR PAYMENT ( XX/XX/XXXX ), you may continue under the above-referenced agreement as though you were not late. If you do not pay by that date, we may exercise our rights under the law. 

Upon receiving this notification, I immediately took action and made a payment of {$950.00} on XX/XX/XXXX, bringing my account current before the stated deadline. Despite my full compliance with the terms outlined in Toyotas letter, my account was still reported as delinquent to the credit bureaus, negatively impacting my XXXX XXXX. 

Additionally, TFS failed to report accurate information in a timely manner and was behind on their own reporting obligations. They waited until XX/XX/XXXX to report a supposedly late payment from XXXX through XX/XX/XXXX, rather than reporting it at the time of delinquency. This delay in reporting further proves that TFS failed to ensure the accuracy and timeliness of their credit reporting, in violation of the Fair Credit Reporting Act ( FCRA ) and industry best practices. 

On XX/XX/XXXX, Toyota Financial Services responded to my dispute under CFPB Case Number XXXX, acknowledging that I brought the account current but refusing to remove the late payments. Their response states : Although you brought the account current, this does not change the status of the previous late payments on the account. 

This statement directly contradicts the terms of their Right to Cure letter, which clearly indicates that if I paid the amount due by XX/XX/XXXX, I could continue under the agreement as though I were not late. Their refusal to correct my credit report despite my compliance misleads consumers and constitutes unfair credit reporting practices. 

Why This Violates Consumer Protection Laws 1. Misleading Credit Reporting ( FCRA Violation - 15 U.S.C. 1681s-2 ( a ) ( 1 ) ( A ) ) Toyota Financial Services instructed me to pay by a specific deadline to avoid further consequences, yet still reported me as delinquent. 
This is an inaccurate and deceptive practice that misrepresents the impact of compliance with the Right to Cure letter.

2. Failure to Conduct a Proper Investigation ( FCRA Violation - 15 U.S.C. 1681s-2 ( b ) ) TFS claims they reviewed the data and found it consistent with their records, but this does not constitute a reasonable investigation into my dispute. 
The Fair Credit Reporting Act ( FCRA ) requires furnishers to investigate disputes and ensure the most accurate reporting possiblewhich TFS has failed to do. 
3. Failure to Report Accurate and Timely Information ( FCRA Violation - 15 U.S.C. 1681e ( b ) ) TFS failed to report accurate payment history in real-time, instead delaying negative reporting until XX/XX/XXXX for payments allegedly missed in XXXX. 
This delay in reporting shows negligence in maintaining timely and accurate credit information, which has resulted in an unfair and damaging impact on my credit profile. 
4. Unfair and Deceptive Practices ( CFPB & State Consumer Protection Laws ) Toyotas Right to Cure letter led me to believe that curing my default by the deadline would restore my standing, but their continued negative reporting contradicts that promise. 
This practice is deceptive, misleading, and unfair to consumers who rely on these notices in good faith.

Company response to consumer: Closed with explanation