Genesis Finance Unfairly Dinged My Credit!

[Sqbsnax]

Hi!

I am looking to see if anyone has experienced this and can suggest how I can get ahold of a real person to resolve. I am a contract worker who gets paid in arrears at the end of the month. My payment due date was Feb 4. I made my payment on Mar 3. They reported me as 30 days late. I've never had this issue with my other accounts, including my mortgage, and prior to this I had 100% on-time payments on all my accounts. I got the car in October and paid it off in April so getting the notification threw me for a loop. Customer service gave me an address to send a dispute letter to but I really want to get this resolved knowing I've actually spoken to someone. Any suggestions? Disputing with Transunion got me nowhere.

 

[Jlapaglia]

This is from their website (assuming you have Genesis Finance). I would try calling them first but if you can’t get anywhere with that then send a certified letter explaining that the payment was less than 30 days past due and you need your credit report information updated. Although if the account is closed they may not be able to do anything at this point.

Direct Credit Disputes​

Genesis Finance - Credit Dispute

PO Box 20835

Fountain Valley, CA 92728

 

[Sqbsnax]

This is from their website (assuming you have Genesis Finance). I would try calling them first but if you can’t get anywhere with that then send a certified letter explaining that the payment was less than 30 days past due and you need your credit report information updated. Although if the account is closed they may not be able to do anything at this point.

Direct Credit Disputes​

Genesis Finance - Credit Dispute

PO Box 20835

Fountain Valley, CA 92728

Thanks! I ended up filing a complaint with the Consumer Financial Protection Bureau. Hyundai just settled a large class action lawsuit due to their inaccurate reporting and negligent response times to correct the issues. It affected over 1 million customers. Going this route insures a response from the company within 15 days. Something this important and this costly shouldn't be left up to the mail. For what I spent, I deserve to speak to a human being who can help me or at the very least, an electronic method to submit my dispute and track its progress.

 

[EdP]

Hi!

I am looking to see if anyone has experienced this and can suggest how I can get ahold of a real person to resolve. I am a contract worker who gets paid in arrears at the end of the month. My payment due date was Feb 4. I made my payment on Mar 3. They reported me as 30 days late. I've never had this issue with my other accounts, including my mortgage, and prior to this I had 100% on-time payments on all my accounts. I got the car in October and paid it off in April so getting the notification threw me for a loop. Customer service gave me an address to send a dispute letter to but I really want to get this resolved knowing I've actually spoken to someone. Any suggestions? Disputing with Transunion got me nowhere.

Can I assume you have backup paperwork to show that? March 3 was a Friday. If you made a payment on line late in the day it may not have been processed until Monday, March 6.

If you have a printout of the payment confirmation and a bank statement you should be able to get this corrected.

 

[BuzzinHornets]

Thanks! I ended up filing a complaint with the Consumer Financial Protection Bureau. Hyundai just settled a large class action lawsuit due to their inaccurate reporting and negligent response times to correct the issues. It affected over 1 million customers. Going this route insures a response from the company within 15 days. Something this important and this costly shouldn't be left up to the mail. For what I spent, I deserve to speak to a human being who can help me or at the very least, an electronic method to submit my dispute and track its progress.

EdP makes a good point. You might have paid on a Friday but I'm willing to bet the payment was not actually processed until the next business day making you a legit 30 day late. Pay earlier next time....

 

[Spider59]

Yea I don't think I would have trusted the pony express with that parcel. Probably stopped into the nearest watering hole for a bit before ferreting your payment off to it's final destination. Was an online payment option provided that would have ensured timely arrival of your funds?

 

[Sqbsnax]

Yea I don't think I would have trusted the pony express with that parcel. Probably stopped into the nearest watering hole for a bit before ferreting your payment off to it's final destination. Was an online payment option provided that would have ensured timely arrival of your funds?

I did pay online and have the confirmation. My online account also is noted with the payment date so I don't know why this happened but I'm pissed because it knocked my credit score down 70 points! It's BS.

 

[Sqbsnax]

EdP makes a good point. You might have paid on a Friday but I'm willing to bet the payment was not actually processed until the next business day making you a legit 30 day late. Pay earlier next time....

My account shows the payment date as the 3rd and I have the confirmation email. The payment date also shows on my statement. I get paid at the end of the month in arrears. I can't magically grow money. I paid off my brand new car in 5 months and they hit me with this after my account was paid off and closed. They just paid out a large class action settlement in July because of this same exact thing.

 

[Sqbsnax]

Can I assume you have backup paperwork to show that? March 3 was a Friday. If you made a payment on line late in the day it may not have been processed until Monday, March 6.

If you have a printout of the payment confirmation and a bank statement you should be able to get this corrected.

My online account shows the payment date as the 3rd and I have the confirmation email. The payment date also shows the 3rd on my statement. I paid off my brand new car in 5 months and they hit me with this after my account was paid off and closed. They just paid out a large class action settlement to millions of customers in July because of this same exact thing.

 

[EdP]

My online account shows the payment date as the 3rd and I have the confirmation email. The payment date also shows the 3rd on my statement. I paid off my brand new car in 5 months and they hit me with this after my account was paid off and closed. They just paid out a large class action settlement to millions of customers in July because of this same exact thing.

You should be able to get that resolved with GMFC or take it to Experien .
Bought a new car las week and made a payment yesterday. They show it paid, but the money has not left my bank yet as of today at 4PM.

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[Spider59]

I did pay online and have the confirmation. My online account also is noted with the payment date so I don't know why this happened but I'm pissed because it knocked my credit score down 70 points! It's BS.

You are golden then and it should be removed. I don’t have any missed either and someone did the same to me. It’s a big hassle especially when you fight to keep that credit healthy.