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Complaint Review: Ally Financial - Select State/Province
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Ally Financial
Select State/Province, USA
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allyfinancial.com
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Ally Financial FALSE charge off on credit report arizona
My son & I financed a car through GM/Ally financial. My son made ALL the payments, since it was his car. # years into it I filed chapter 13 bankruptcy, and included the car at my attorneys approval. After 3 years on my ch.13 pmt plan, ALly was apid off for the amount approved. They sent us the title and a lien release,and then put a $1200 charge off on MY SONS credit.
They never contacted him or gave him the opprrtunity to pay the $1200, which was the reduced interest from the chapter 13. We tried to have the credit report companies get it removed, but Ally wouldn't remove it. So now my son has a charge off on his credit, even though they never even gave him the opportunity to pay, because he would have.
3 Updates & Rebuttals
Pro Se Advocate
New York,Contact me If you Want Ally to Make it Right
#2UPDATE EX-employee responds
Fri, February 14, 2014
They are too big to fight alone. Please join us in the fight to stop the Bully known as Ally Financial at chn.ge/1iz3BwV.
stormy22
memphis,Tennessee,
I believe you!
#3Consumer Comment
Wed, November 06, 2013
I have read thousands of comments, large majority in a simalar kind of situation with Ally. I suggest you file a complaint with the Consumer Financial Protection Bureau.
http://www.consumerfinance.gov/
I create a fb page to reach out toother unhappy ally auto customers. : https://www.facebook.com/pages/Ally-Autos-Unhappy-Customers/367933486670751
Check out some of the links to articles I posted on the fb page. its amazing.
Robert
Irvine,California,
It may not be false..
#4Consumer Comment
Mon, October 21, 2013
There are a few things you have to understand about a BK and these are things that your BK Attorney probably should have told you or made a bit clearer.
First of all putting the car in the BK was not a your attornies "blessing" it was as a requirement of the BK proceedings. Had you left it off and the Trustee found out, not only could you have had your entire BK dismissed but could have been subject to additional penalties. Now, not to say that once in the BK it couldn't have been taken out by doing a "reaffirmation agreement"..but it still had to be originally included.
Next, most likely what your attorney should have done is give you more details as to the possible ramifcations of a BK on the co-signed loan. One possibility he should have suggested was for your son to attempt to refinance the vehicle in his name only before you filed.
The problem is that the $1200 "charge off" is valid and it looks like your son got the benefits of a lower payment due to your BK. Well he can't have it both ways. But even if that is not the case because your son is a co-signer it affects both creditors the same, well not quite the same. Since you declared BK you are not responsible for this "Charge-Off" amount, but there is a very good chance your son is still legally responsible for it and they may take legal action against him to recover it. So it is not going to just "go away" from your son's credit. But if it is an open amount and he wants to pay it, he can. One thing he can try is an offer IN WRITTING that if he pays it they will remove it from the credit report. It may not work..but perhaps worth a try.
As for one caviat...every case is different as only you know your specifics. But if you have any doubts this is something you need to bring up with your BK attorney. If they still say you have a case against Ally..let them bring a suit against them under Fair Credit Reporting Act violations.
