Vehicle loan or lease -- Incorrect information on your report -- Complaint #7106456
Complaint Overview
Complaint ID: 7106456
Company: Toyota Motor Credit Corporation
Product: Vehicle loan or lease
Sub-Product: Lease
Issue: Incorrect information on your report
Sub-Issue: Account status incorrect
State: New Hampshire
ZIP Code: 03431
Date Received: 2023-06-12T12:00:00-05:00
Date Sent to Company: 2023-06-12T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
The customer, which is me, thought that autopay was set up in XX/XX/2023 after the vehicle was leased. He connected his bank account for the first lease payment and expected that this account would continue to be debited for the duration of the lease. Instead, auto payment was not set up and as a result payments were not made. Although Mazda sent paper statements, it never used the customer 's email address or cell phone number to communicate that payments were past due. As a result, the customer did not become aware of past due payments until he received an alert from his credit monitoring service at which point he made the payments immediately. Mazda should have notified the customer in an effective manner upon the first missed payment, especially on a new account. Failure to do so resulted in a decrease in the customers credit rating and material damage to the customer.
Frequently Asked Questions
What is Complaint #7106456 about?
Complaint #7106456 was filed against Toyota Motor Credit Corporation regarding Vehicle loan or lease specifically about Incorrect information on your report. It was received by the CFPB on 2023-06-12T12:00:00-05:00.
How did Toyota Motor Credit Corporation 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 Toyota Motor Credit Corporation?
Yes, visit the Toyota Motor Credit Corporation company profile at readthecomplaint.com/company/toyota-motor-credit-corporation 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.