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car finance company is lying and putting negative marks on my credit reports

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britnanyh

Junior Member
What is the name of your state (only U.S. law)? ca
hi. i'm not sure if this question is in the right forum, but here goes. I recently bought a brand new car and traded in my car that I was making payments on. I purchased the trade in in may of this year. when the payment for September was due, my checking account was compromised and closed by the bank and opened another for me with a different account number. i called the finance company and explained what had happened and made arrangements to make the payment the following week. which would have made my payment 25 day past due. a friend told me about the chevy dealer was having a special. so I went to the dealer and traded in the one car for a new truck. the finance manager of the dealer called the finance company and asked for the pay off amount, which was $7192.00 roughly. then the girl from the old finance company was being very rude, she asked how much I was putting down and he said nothing, to which she replied why? anyways, a few days later I get a bill from the old finance company saying I owed them $900.00 and then marked my credit report saying I was late on my payments. this was after I purchased the new car and the deal had already been made. I have the documents with dates, etc., my question is, who do I call about their lying and falsifying documents? not to mention the bad marks on my credit reports? thank you for any advice. I appreciate your time.
 


FlyingRon

Senior Member
Eh? What falsification? It would appear that you went more than 30 days past due on the account. You were delinquent. The fact your checking account was compromised, that you intended to buy a new car, and that the lender was rude, do not change the fact you missed payments. If you had paid the missing payment immediately when it was only 25 days late, you'd not have had the ding on your credit record.
 

britnanyh

Junior Member
Eh? What falsification? It would appear that you went more than 30 days past due on the account. You were delinquent. The fact your checking account was compromised, that you intended to buy a new car, and that the lender was rude, do not change the fact you missed payments. If you had paid the missing payment immediately when it was only 25 days late, you'd not have had the ding on your credit record.
actually, I traded it in before the 25 days. they did everything they did one week or so after the new car purchase. it was even paid off before the 25 days. thanks for replying.
 

Zigner

Senior Member, Non-Attorney
actually, I traded it in before the 25 days. they did everything they did one week or so after the new car purchase. it was even paid off before the 25 days. thanks for replying.
How do you know it was paid off before the 25 days?
 

quincy

Senior Member
What is the name of your state (only U.S. law)? ca

... a few days later I get a bill from the old finance company saying I owed them $900.00 and then marked my credit report saying I was late on my payments. this was after I purchased the new car and the deal had already been made. I have the documents with dates, etc., my question is, who do I call about their lying and falsifying documents? not to mention the bad marks on my credit reports? ...
You can dispute the report made by the finance company to the credit reporting agency.

The credit agency will note that the report by the finance company is reported by you as in error. The credit agency will then contact the finance company for evidence to support the late payment showing on your report. If the finance company has no evidence showing the late payment, the credit agencies will correct your report.

Here is a link from the FTC with the steps to take to dispute errors on credit reports: https://www.consumer.ftc.gov/articles/0151-disputing-errors-credit-reports
 

britnanyh

Junior Member
You can dispute the report made by the finance company to the credit reporting agency.

The credit agency will note that the report by the finance company is reported by you as in error. The credit agency will then contact the finance company for evidence to support the late payment showing on your report. If the finance company has no evidence showing the late payment, the credit agencies will correct your report.

Here is a link from the FTC with the steps to take to dispute errors on credit reports: https://www.consumer.ftc.gov/articles/0151-disputing-errors-credit-reports
hi again. thank you for telling me how to go about disputing the information on my credit reports. however, I am still having problems with this finance company. they are having the car lot that I bought the first car from and they are telling me I still owe them for the down payment, which if I did owe them, they would have come and repoed the car, and the other dealership is telling me they won't release the title for the trade in. this company is using unfair business practices, and I can't understand why they are acting like this. even the finance manager at the dealership said he can't believe they are acting like this. so, what do I do now? get a lawyer, or send them letters of some sort? I am at a loss for words on the actions of this finance company.t hanks again for your time and assistance with this matter. I greatly appreciate it!
 

Zigner

Senior Member, Non-Attorney
hi again. thank you for telling me how to go about disputing the information on my credit reports. however, I am still having problems with this finance company. they are having the car lot that I bought the first car from and they are telling me I still owe them for the down payment, which if I did owe them, they would have come and repoed the car, and the other dealership is telling me they won't release the title for the trade in. this company is using unfair business practices, and I can't understand why they are acting like this. even the finance manager at the dealership said he can't believe they are acting like this. so, what do I do now? get a lawyer, or send them letters of some sort? I am at a loss for words on the actions of this finance company.t hanks again for your time and assistance with this matter. I greatly appreciate it!
Please re-type your question so it makes sense...
 

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