Vehicle loan or lease -- Problems at the end of the loan or lease -- Complaint #8349090
Complaint Overview
Complaint ID: 8349090
Company: Ally Financial INC.
Product: Vehicle loan or lease
Sub-Product: Lease
Issue: Problems at the end of the loan or lease
Sub-Issue: Termination fees or other problem when ending the lease early
State: California
ZIP Code: XXXXX
Date Received: 2024-02-14T12:00:00-05:00
Date Sent to Company: 2024-02-18T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Tags: Older American
Consumer Narrative
I turned in my XXXX XXXX XXXX in XXXX of XXXX to XXXX XXXX XXXX in XXXX, California. They said they would buy the car from Ally/GMAC and there would be no fees or payments due. It was a three-year lease and I was in year three, with extensions, because of the Great Recession of XXXX. I was unemployed for twenty-two months. I never heard any news, information or ANYTHING for thirteen years until two weeks ago when I received a 1099-C form for cancellation of debt from the year XXXX. The amount is {$2300.00}. I do not know how Ally arrived at this amount as they have never contacted me since XXXX. California has a statute of limitations on auto loans and leases set at four years. Does this mean they can not sue yet can still process a 1099-C after thirteen years? The date on the 1099-C is XX/XX/XXXX, again a date on which I had no knowledge of this activity occurring.
Frequently Asked Questions
What is Complaint #8349090 about?
Complaint #8349090 was filed against Ally Financial INC. regarding Vehicle loan or lease specifically about Problems at the end of the loan or lease. It was received by the CFPB on 2024-02-14T12:00:00-05:00.
How did Ally Financial INC. 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 Ally Financial INC.?
Yes, visit the Ally Financial INC. company profile at readthecomplaint.com/company/ally-financial-inc 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.