Complaint Review: GM FINANCIAL - Nationwide

You could have reported this clearer is just a bit of an understatement. Being reported 30 days late when you say you were not is something that most people would consider key information, as that can change everything.

You've stated you have your bank statements showing the ontime payments. So have you contacted GM to get a payment history from them? If you haven't you need to. Then when you get it you need to match up what they show you have paid and when with what you show you have paid. If there are any discrepancies you can then deal with those. You need to go back to a couple of months BEFORE the first 30 day late was reported.

If after reviewing their history you find you were late, then you need to fix it, perhaps with more info you can work it out for them to remove it. If you find that you weren't late you can then take both parts(their history and yours) and have a more successful dispute.

Keep in mind though, you stated you sent a payment within a few days..if they received it AFTER the penalty date where you were assessed a late payment. If you failed to pay that late payment fee the next month you may have been  considered late.

As for your score..you didn't post that. Have you even gotten your REAL FICO score? If not this is something you should have done BEFORE you applied for your loan. Perhaps all of these things you are worrying about don't actually matter.

 I could have stated this clearer I'm not denied as of yet but the denial is based off of incorrect reporting of payments . I have submitted my payment reports coming from my bank paid on time or within days of the due date . Gm financial is reporting payments 30 days late on ontime payments . And no my balances were not correct as of 1/17 my online statements verify that . I apologize for assuming they need to report payment status monthly but the company did report a current status up until 1/17 them chose to report current which does nothing for a credit score

There is NO law that says a company MUST report to your credit reports, only that if they do what they report must be accurate.  So with all of these disputes you have and threats of legal action, they may just decide to remove that line of credit from your report...and they would be 100% within their rights and there is not one single legal thing you could do about it.

Now, with that said am I telling you to ignore incorrect information and to not dispute it...NO.  You just need to realize what they are required to do and what they can do.

So yes, if as of 1/17 the balance listed is the balance you had then they are reporting CORRECT and VALID information(notice I didn't say CURRENT).  Yes, it is bad that they haven't updated your file in several months.   So in the dispute they may decide to correct the information as of your current balance but they could still just leave the monthly payment history as a Non-Reporting status..basically saying that they are not reporting you one way or the other.

One other thing is that there are 3 main credit reporting agencies (and a new "fourth" agency that is trying to get a foot hold).  A creditor also does not have to report to all 3.  They can chose to report to all 3, 2, 1, or even none.  So they could be right that they are reporting to 1(or 2).  Which is why you need to look at the main 3.  

Finally if you got denied because of a LACK of reporting, there is probably something else going on that you either don't know or are not disclosing.  As it is rarely a single item on a credit report that will cause people to be denied.  It may be a combination of things and there is one that "put it over the top", but again...you may need to look at those other things as well.