BMW Financial Services NA, LLC – CFPB Complaint

Date Received: 2017-06-08T00:00:00

Product: Auto debt

Issue: Attempts to collect debt not owed

Consumer Consent Provided to Share Complaint: Consent provided

Consumer Complaint: In XXXX I purchased a XXXX XXXX XXXX from BMW of XXXX ( IL ). I owned the vehicle for three ( 4 ) months. During the months of ownership the vehicle was returned to the dealership for repairs on four separate occasions for mechanical issues.

As a result of the consistent mechanical issues with the vehicle, I returned the vehicle as a ” voluntary repossession ”.

I have requested, through BMW of North America and BMW Financial Services that the outstanding balance owed be forgiven since the vehicle had significant mechanical issues, and is a vehicle under factory recall for some of the issues I experienced with it.

Each entity has ” passed me off ” to the other, indicating that the other entity is responsible.

I am only requesting that the claimed balance be removed from my credit repair. BMW of XXXX acknowledged possession of the vehicle. The debt has been ” Charged off ”. However, it remains on my credit report as owed.

I disagree that I owe this balance, and have been mistreated each time I make contact with BMW of North America and BMW Financial Services.

Company: BMW Financial Services NA, LLC

State/Zip: IL 606XX

Company Response to Complaint: Closed with explanation

Was Company Response Timely: Yes

Did Consumer Dispute Company Response: N/A

Complaint ID: 2543467

The above data is from the Consumer Financial Protection Bureau. Keep in mind that every company will get a complaint from time-to-time, even the great ones. But there are a few key data points that will give you an idea about how well the company values their customers and handles consumer issues.

Look at the item Company Response to Complaint: and Did Consumer Dispute Company Response: to get a better idea of how this was resolved. And the field Consumer Complaint: can give you some context of the issue.

See also  Phoenix Financial Services LLC - CFPB Complaint ID 2623399

In particular what you are looking for was that the company response was timely and that the consumer did not dispute it. The posting of complaints has proven to be a valuable resource for both companies and consumers.