Vehicle loan or lease -- Struggling to pay your loan -- Complaint #6262784
Complaint Overview
Complaint ID: 6262784
Company: New City Funding CORP.
Product: Vehicle loan or lease
Sub-Product: Loan
Issue: Struggling to pay your loan
Sub-Issue: Loan balance remaining after the vehicle is repossessed and sold
State: New York
ZIP Code: 14612
Date Received: 2022-11-30T12:00:00-05:00
Date Sent to Company: 2022-11-30T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
Consumer law rights I XXXX XXXX and XXXX XXXX will like to exercise our rights. New City Funding is claiming to have being there during the sale but that is a lie because we were on the phone with them at the time of the sale and XXXX was required to be put down. Which is unfortunate because they were suppose to exercise the truth and lending law 15 USC 1622b. Now 15 USC 1692 F states it was illegal for them to repo our car - ( 6 ) Taking or threatening to take any nonjudicial action to effect dispossession or disablement of property if ( A ) there is no present right to possession of the property claimed as collateral through an enforceable security interest ; ( B ) there is no present intention to take possession of the property ; or ( C ) the property is exempt by law from such dispossession or disablement. New City Funding disclose our information to a nonaliated third party.The company thatrepode our car there was no contract in place. Nor were we given a non-disclosure form. 15 U.S. Code 6802 - Obligations with respect to disclosures of personal information U.S. Code ( a ) Notice requirements Except as otherwise provided in this subchapter, a nancial institution may not, directly or through any aliate, disclose to a nonaliated third party any nonpublic personal information, unless such nancial institution provides or has provided to the consumer a notice that complies with section 6803 of this title. ( b ) Opt out ( 1 ) In general A nancial institution may not disclose nonpublic personal information to a nonaliated third party unless ( A ) such nancial institution clearly and conspicuously discloses to the consumer, in writing or in electronic form or other form permitted by the regulations prescribed under section 6804 of this title, that such information may be disclosed to such third party ; ( B ) the consumer is given the opportunity, before the time that such information is initially disclosed, to direct that such information not be disclosed to such third party ; and ( C ) the consumer is given an explanation of how the consumer can exercise that nondisclosure option. Another law I would like to add is 15 USC 1692 ( a ) Abusive practices There is abundant evidence of the use of abusive, deceptive, and unfair debt collection practices by many debt collectors. Abusive debt collection practices contribute to the number of personal bankruptcies, to marital instability, to the loss of jobs, and to invasions of individual privacy. ( b ) Inadequacy of laws Existing laws and procedures for redressing these injuries are inadequate to protect consumers. Now it's a 1,000 per violation.
Frequently Asked Questions
What is Complaint #6262784 about?
Complaint #6262784 was filed against New City Funding CORP. regarding Vehicle loan or lease specifically about Struggling to pay your loan. It was received by the CFPB on 2022-11-30T12:00:00-05:00.
How did New City Funding CORP. 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 (Vehicle loan or lease) and describe your issue in detail.
Can I see other complaints against New City Funding CORP.?
Yes, visit the New City Funding CORP. company profile at readthecomplaint.com/company/new-city-funding-corp 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.