Credit reporting or other personal consumer reports -- Incorrect information on your report -- Complaint #9866138
Complaint Overview
Complaint ID: 9866138
Company: BMO Bank National Association
Product: Credit reporting or other personal consumer reports
Sub-Product: Credit reporting
Issue: Incorrect information on your report
Sub-Issue: Account information incorrect
State: Illinois
ZIP Code: 60452
Date Received: 2024-08-15T12:00:00-05:00
Date Sent to Company: 2024-08-20T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
My credit report shows that I have an automobile loan through XXXX XXXX ( now BMO ). This is false and misleading information as the transaction was a retail installment sales contract - there was no loan. According to your site : LAST REVIEWED : XX/XX/year> What is a retail installment sales contract or agreement? XXXX XXXX XXXX retail installment sales contract is a type of financing agreement. It is made directly between you and the auto dealer. The dealer will typically sell the contract to another lender unless the dealer is a buy-here/pay-here dealer. Traditional vehicle financing involves borrowing money from a bank or other lender. In contrast, a retail installment sales agreement is when you borrow directly from the auto dealer. These dealers typically sell the retail installment sales contract to a bank, credit union or other lender. However, a buy-here/pay-here dealer, will keep the contract. The copy of my contract from my auto purchase states clearly across the top that it is a XXXX XXXX XXXX. I have requested a copy of the original contract both from the dealership and the bank. The dealership sent me a copy that matches the copy I have. I have not yet received a response from the bank. My goal is to have this negative report removed from my credit report.
Frequently Asked Questions
What is Complaint #9866138 about?
Complaint #9866138 was filed against BMO Bank National Association regarding Credit reporting or other personal consumer reports specifically about Incorrect information on your report. It was received by the CFPB on 2024-08-15T12:00:00-05:00.
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 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.