Mortgage -- Trouble during payment process -- Complaint #5143204

Complaint Overview

Complaint ID: 5143204

Company: Ally Financial INC.

Product: Mortgage

Sub-Product: Home equity loan or line of credit (HELOC)

Issue: Trouble during payment process

State: New Mexico

ZIP Code: 87031

Date Received: 2022-01-24T12:00:00-05:00

Date Sent to Company: 2022-01-24T12:00:00-05:00

Company Response: Closed with explanation

Timely Response: Yes

Consumer Disputed: N/A

Submitted Via: Web

Consumer Narrative

On XXXX XXXX I made my current monthly payment on My Ally bank home equity loan electronically as I usually do. On around XX/XX/XXXX I received collection notices in the mail indicating that I was in default of my loan. I immediately went to my bank account and to my account with the Ally.to check for payment activity and could not find records of the payment. Unfortunately I did not record the confirmation number when I made the payment. On XX/XX/XXXX I called Ally bank to inquire of this payment. The person assisting me spent quite a bit of time researching but could not find a record of the payment. At this point I assumed that I had made an error when posting the payment and agreed with the company rep to make that payment which was from my XX/XX/XXXX payment, My current payment which was for My XX/XX/XXXX payment and my next payment for my XX/XX/XXXX payment. I received and recorded a confirmation number from Ally for this payment and was assured that all was OK. On XX/XX/XXXX I again received debt collection letters from Ally stating I was in default of my account. I again called in and after considerable wait on the phone I was told that they could see the payment activity and discussions in my account record but could not determine where the payment went. ( this payment was not taken from my bank account either ). Once again we agreed to make the same transaction for three months of payments. Again I received a confirmation number and was assured all was okay. On XX/XX/XXXX I again received mail from Ally saying I was in default on my loan. I checked my bank account and the payment had not been withdrawn. I called Ally again on XX/XX/XXXX and after the same routine and extensive wait times I was told that for some reason due to the type of loan that the payment was put in " suspense ''. Again we agreed to make the payment making my account not only current but paid in advance. Again I received a confirmation number and was assured all was Okay. On XX/XX/XXXX the full payment was withdrawn from my bank account. I went to my Ally account online and found that the payment was still being listed as past due and in default. On XX/XX/XXXX I received an email notice from my bank that my XXXX score had been reduced due to negative credit reporting by Ally Bank. On XX/XX/XXXX I checked my Ally account on line and found that the payments had finally been credited and the account was up to date. Everyone I spoke with at Ally was helpful and assured me that all was Okay. It is not okay that my credit record is being negatively effected my credit record due to internal issues at Ally bank and no fault of my own.

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This analysis is AI-generated based on publicly available CFPB complaint data. It does not constitute financial or legal advice.

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