Toyota Motor Credit Corporation Consumer Loan Complaint

Toyota Motor Credit Corporation Consumer loan department,

Vehicle lease Managing the loan or lease Rhode Island

In - -, I leased a brand new - - - for 24 months from - - - in -, RI. My payments were automatically debited from my account each month on the -. I never missed a payment. In - -, I bought a - -. - - in -, RI figured my mileage overage and the rest of my lease payments and rolled it into my loan. I received the check somewhere in -/-/-/-/-/- - to payoff Toyota Financial Services for the rest of the lease. I turned in my lease to - in - - a few days after I purchased my -. - kept taking out the lease payment and the gap insurance each month, roughly $330.00 total. They stopped the payment in -. They had tried calling but I did not want to pay out the remainder of the lease until I received a bill. I never received -. I am buying a house. My credit as of - -, - was -. My loan was approved for 5 % down between 4-5 %. I have been working with a broker to get my score higher. My credit showed a balance from Toyota for $280.00


what made me think I only owed $280.00. I said because it was on my credit report, even as an on time paid account. They told me no, that the balance was now $5000.00 ( the date I called was - - ). They said they sent the letter out -. I received the letter in the mail on - -. As of - - ( the day I called mind you ) according to - ( see attached screen shot ) my credit dropped from - on - - to - as of - -. Toyota reported the $5000.00 charge as a charge-off. Now, this is showing as a late payment the first time in over 80 months of my credit history and is coming between home ownership and myself. With my credit rating dropped, I am unable to afford the high percent rate of the loan and 10 % ( from 5 % ) down payment on my new home, scheduled for closing -/-/-. I am supposed to close - - and all was set until Toyota messed up my credit rating just days ago from a lease that I turned in early, approximately - - from the end of lease date of -/-/-. I want this taken off my credit report so I resume buying my house with the terms that were set in place with my mortgage approval. I have spoken to more than - representatives in the past 3 business days and all I get is we are researching it and if Toyota made a mistake, they would credit the account and then take it off the report ... but no one is working on it or calling me back. I demanded they take it off my credit and received no resolution. I am on a tight timeline with my Purchase and Sales agreement and no one at Toyota is responding. Please see attached docs.