Flagship Credit Acceptance erroneously and maliciously reported late/missing payments to the credit bureaus and refuse to correct the matter voluntarily.
I financed a 2014 Nissan Frontier SV Crew Cab in July 2016 with payments of $486 to be paid on the 1st of each month. Not only was a previous auto loan at a ridiculous interest rate paid on time and paid off prior to this loan at a high and ridiculous interest rate, I have always paid on time, each and every 1st of the month, however on January 19th, 2018 I was involved in an accident that resulted in a total loss.
Rather than make the February 1st, 2018 payment of $486, I informed Flagship that they would be getting paid in full from my insurance company. On February 11th, Flagship Credit was issued a payment of $20,211 of which there was a remaining balance of $554.00 that Flagship Credit agreed to break into 2 payments of $277.00 due on March 18, 2018 and April 18, 2018 of which both payments were automatically withdrawn from my bank account paying off the loan way early and in full. On March 31, 2018 Flagship reported to the credit bureaus that I was 31-60 days late paying the first $277 and to this date have not reported that I paid the loan off in full. This ignorant and malicious act lowered my FICO score by almost 40 points which in turn hindered me from obtaining a line of credit for my business as well as a business credit card that I applied for.
I spoke to Flagship Credit to inform them that l received notifications from my Credit Karma subscription that there was an error reported on my payment history only to be told by the ignorant and most stupid customer service rep that they don't report to Credit Karma, at that point I asked to speak to his supervisor knowing that I was talking to somebody that didn't know one iota of what was going on.
The supervisor came on the line and informed me that they would not correct the situation because the $20,211 payment made in February does not count as a payment, therefore I was late and that's the way they do it and for me to get an attorney if I had any more complaints about it. Very unprofessional, incredibly ignorant and negligent.
Reason of review: Erroneous credit payment history reporting.
Monetary Loss: $100000.
Preferred solution: Civil Lawsuit to include punitive damages to the fullest extent of the law..
I didn't like: Extremely high interest rates, Very ignorant and less than adequate customer service reps, Malicious and erroneous false reporting of payment history, Supervisors are very ignorant as well.