topic Re: GM Financial Dispute Advice? GW? in Rebuilding Your Credit

GM Financial Dispute Advice? GW?

IvDogg — Thu, 20 Mar 2014 01:01:48 GMT

Hello all,

I am hoping to get the most out of my credit score and had a questions about an inaccuracy on my report. I have a GM Financial loan that I refinanced in May 2011. On my TU the account is showing as closed, but the status also states "30 days past due". That should be inaccurate if the account was closed at paid? Correct? Is this hurting my credit score?

Also my account is showing as 30 days last for May 2011 on EQ and EX yet the account was closed in May 2011. I remember them calling me because I hadn't paid yet for May 2011, but the refinance ended up going through just fine, they never bothered me for it, and there's no way 30 days past the due date went by before the refianance completed. The account I refinanced to shows it being openned in May 2011.

I'm currently disputing the specific status with TU right now. I've also tried disputing the 30 day late mark with the CRAs simply stating I was never late, but the invistigation came back as "Updated" without the 30 day late mark being removed.

I tried contacting GM Financial by phone but the CSR adamately would not assist me with credit reporting disputes and would only give me a mailing address to their dispute department.

Should I dispute this in detail with the CRAs? If so, phone, fax, or mail?

Should I send a more detailed letter to the address I got from the CSR? Anybody know any backdoor numbers?

Thanks everyone.

Re: GM Financial Dispute Advice? GW?

IvDogg — Mon, 24 Mar 2014 09:03:49 GMT

Bump!

GM Financial is now reporting a worse inaccuracy to Equifax as well. Status reads "Not more than two payments past due" and my EQ score dropped by 12 points... Hoping anybody has any info for dealing with GM Financial.

Thanks.

Re: GM Financial Dispute Advice? GW?

IvDogg — Thu, 27 Mar 2014 20:42:35 GMT

I've recently read some conflicting info from other members on other posts regarding similar payment status for accounts... Can someone tell me if I'm in the right on this dispute?

So as stated I had an Autoloan from GM Financial (Americredit when I openned it)... I was 30 days late one month, perfect payment history for the remainder of the loan, but I refinanced this loan with a local credit union with a much better interest rate...

EX reports account status "closed" payment status "paid, was 30 days past due". Sounds accurate, I can live with that for now.

EQ report account status "closed" payment status "Not more than two payments past due". I was never two payments past due, how bad is this on my CR?

TU reports account status "closed" payment status "30 days past due". This is disputable? How bad is this on my report too?

Thanks.

Re: GM Financial Dispute Advice? GW?

IvDogg — Tue, 01 Apr 2014 04:53:21 GMT

Minor update, still no success, I did manage to get someone's direct line/fax for their 'compliance' department PM me if you wanna give that a shot yourself.

Re: GM Financial Dispute Advice? GW?

IvDogg — Thu, 17 Apr 2014 01:09:27 GMT

Update, after writing the CEO, and getting a response from someone in the 'compliance' department I finally got some results. He responded to me via phone and email and sent me a copy of the update he sent to the CRBs. My payment status has been updated with EQ, now I'm waiting for slow TU to update my CR as well, but it looks like all is accurate now... PM me if you need a contact for someone at GM Financial.

Re: GM Financial Dispute Advice? GW?

RobertEG — Thu, 17 Apr 2014 01:27:51 GMT

Having an account status of closed and/or a current status of paid refer to current "snapshot" account information, and not prior history.

Prior level of account delinquency is retained under "Payment Ratng" code when the current status is updated from delinquent to paid.

A CR blurb of "paid, was.x-mos. delinquent" is a combination of current status and prior account information.

If the current status shows delinquent and the account is in good standing, the current status is inaccurate.

If the current status shows paid and the pror delinquency status is also referenced, that is accurate reporting.

Account open/close status is totally separate, and references whether the account remains avaliable for continued use of credit.

It is not a delinquency status.

Re: GM Financial Dispute Advice? GW?

IvDogg — Thu, 17 Apr 2014 09:02:56 GMT

Yes, to clarify:

My current status was reporting as 30 days past due & 30 days past due for the month I missed on a paid off account.

It now reports PAYS AS AGREED on EQ, waiting for TU to update as well.

Re: GM Financial Dispute Advice? GW?

IvDogg — Thu, 01 May 2014 19:07:30 GMT

So GM Financial fixed it on 4/13 or so, then messed it up again on 4/27, went right back to reporting an inaccurate current status...

It's just my blind assumption that the person I'm dealing with is manually updating it, then it's later being automatically updated because the root problem is not being fixed. Does that sound about right?

Any suggestion on how to get them to fix this?

I'm about to send an angry letter to every GM Financial Address I can find.

Re: GM Financial Dispute Advice? GW?

chrissy26 — Sat, 10 May 2014 00:14:15 GMT

Yes. May I please have you contact for GM Financial. I am hoping to have a few lates removed. Thank you so much.

Re: GM Financial Dispute Advice? GW?

Anonymous — Sat, 10 May 2014 00:40:28 GMT

@IvDogg wrote:
Update, after writing the CEO, and getting a response from someone in the 'compliance' department I finally got some results. He responded to me via phone and email and sent me a copy of the update he sent to the CRBs. My payment status has been updated with EQ, now I'm waiting for slow TU to update my CR as well, but it looks like all is accurate now... PM me if you need a contact for someone at GM Financial.

I am fighting with GM financial as well. I have gotten some response from to VP so far. I would be happy to share the information I have. I also would be very apprecitive of any you can provide me. My gut feeling is GM Financial is not going to budge on their own, but I won't stop there. Since they are a division of GM, I will push up to those executives, and remind them of how they were at the front of the line when it came to a tax payer bailout, and they are also one of the biggest welchers of debt in the world. How many millions did they walk on when they went bankrupt?

Re: GM Financial Dispute Advice? GW?

mlc3542 — Wed, 14 Jan 2015 18:49:50 GMT

Can you provide me with this information? Thank you in advance.

Re: GM Financial Dispute Advice? GW?

cartwrna — Thu, 15 Jan 2015 01:48:42 GMT

I fought with GM financial for a whole year and a half to get my car loan even reported to my account. Id call and they'd say issue was fixed allow 60 days, Id allow 60 days and still wouldn't report then have to re dispute with them. Finally a BBB dispute got it to show up! Really ticked me off as it was hard to refinance a car you'd paid on time a year and a half for and it not reflect on reports.