I have an auto loan through GMAC. A few months after the first payment was made on time, I found out through my credit report, they considered it late. I contacted them about the issue and received a letter stating that it was corrected. I assume it is taken care of.
Several months later, I see they are again reporting me late. Keep in mind, I've never gotten a phone call or letter from GMAC about late payments. I contacted GMAC, they assured me it was an error and would be corrected in 3 months. After that time, I see it still isn't correct. I contact "Tracy". Tracy says she does not see where I am paying late in their records. She will correct the problem within the month.
I check my credit in April, see it still isn't corrected, and contest it. They correct the issue. May roles around and the automatic update reverses the correction. I call again. This time I find they have the wrong contact info, and they never corrected the first late payment. So even though I'm paying on time, it shows up as a month late.
I corrected the contact info, although I've never moved. Unfortunately, I paid the first payment with a money order 3 years ago. I've contacted my bank to see if they keep records of money order purchases. If they don't, I'm in a corner I can't get out of.
I've been trying to figure this out for 1 1/1 years, have been told it will be corrected, and now they're dodging responsiblity. Every person I now talk to says they don't know how this happened, it's not their department, the size of the company means people "fall through the cracks", and a recent GMAC move caused the issue. Maybe if GMAC would get their act togehter and improve their process, they might be able to do their jobs.
As it is, my credit is shot and I have to deal with an inept company. Now that I have an answer I can act on, I'll do two payments this month. That still means I have to make one extra payment of $600 to make up for the first one they lost track of. I guess that means that in addition to being inept, GMAC is one big corporate thief.