Credit reporting, credit repair services, or other personal consumer reports -- Problem with a credit reporting company's investigation into an existing problem -- Complaint #5262496
Complaint Overview
Complaint ID: 5262496
Company: BMO Bank National Association
Product: Credit reporting, credit repair services, or other personal consumer reports
Sub-Product: Credit reporting
Issue: Problem with a credit reporting company's investigation into an existing problem
Sub-Issue: Investigation took more than 30 days
State: Illinois
ZIP Code: 60626
Date Received: 2022-02-25T12:00:00-05:00
Date Sent to Company: 2022-02-25T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
Hello, I ordered a new XXXX XXXX XXXX on the manufacturer 's website on XX/XX/XXXX. I was presented with a {$60000.00} 2.49 % loan offer from BMO Harris Bank on the same day, but did not sign any loan documents. Vehicle delivery was scheduled for XX/XX/XXXX. On XX/XX/XXXX I went to the XXXX dealership location ( XXXX XXXX XXXX XXXX, XXXX, IL XXXX ) to pick up the car. Unfortunately the car was physically damaged and had several error notices showing up on the main screen. I spoke with a XXXX representative ( XXXX ) and he told me in his experience this was not normal. I told XXXX that I would reject delivery. XXXX told me that this would not be a problem and that XXXX would cancel the order, have a new car/VIN allocated for me to be delivered at a later time. XXXX does NOT allow future owners to inspect the interior of the car and/or the software/computer inside the car before signing the documentation, therefore I was forced to sign their paperwork prior to completing my inspection of the vehicle. I asked XXXX if this would be a problem after I rejected delivery, he said no. He promised me orally and subsequently via text that my deposit ( {$8700.00} ) would be refunded shortly, that the documents would be cancelled and that a new car will be ordered. On XX/XX/XXXX I received a notification from XXXX that a new lien was added to my credit report. This was the BMO Harris Bank loan for {$60000.00} that I never accepted because I rejected delivery of the vehicle. I reached out to XXXX immediately and asked him why my credit report was showing this loan. He told me that XXXX 's systems showed the loan contract as voided, that he followed up with XXXX 's financing team to confirm and that my deposit would be refunded within 30 days. I never heard back from XXXX. On XX/XX/XXXX a BMO Harris Bank employee reached out to me to let me know that that loan was showing as due in their systems and that I needed to start paying. I explained the situation to him and asked him to reach out to XXXX to confirm that the loan was voided/cancelled and that XXXX kept the car. I reached out to XXXX again and asked for some sort of resolution, but I never heard back from him. I filed a dispute with XXXX and today the dispute was " resolved '', but the loan remains on my credit report. I have tried getting XXXX 's help on this matter multiple times, but time and again they refuse to do anything to solve this issue. I attach the communication I have had with XXXX for the past few months.
Frequently Asked Questions
What is Complaint #5262496 about?
Complaint #5262496 was filed against BMO Bank National Association regarding Credit reporting, credit repair services, or other personal consumer reports specifically about Problem with a credit reporting company's investigation into an existing problem. It was received by the CFPB on 2022-02-25T12:00:00-05:00.
How did BMO Bank National Association respond to this complaint?
The company responded with: "Closed with explanation". The response was timely.
What is the risk level of this complaint?
See the risk assessment section for details on this complaint's risk profile.
How do I file a similar complaint?
You can file a complaint with the CFPB at consumerfinance.gov/complaint. Select the appropriate product category (Credit reporting, credit repair services, or other personal consumer reports) and describe your issue in detail.
Can I see other complaints against BMO Bank National Association?
Yes, visit the BMO Bank National Association company profile at readthecomplaint.com/company/bmo-bank-national-association to see all complaints, risk scores, and analysis.
Disclaimer
This analysis is AI-generated based on publicly available CFPB complaint data. It does not constitute financial or legal advice.