February 15, 2011
To: People Concerned About Vehicle Financing
From: Michael – A Chrysler Financial Customer
Subject: Chrysler Financial Destroyed My Credit
A Month after My Last ON-Time Payment

I love my 2004 Dodge 2500 Truck. However, the month (my 72nd payment) after I made out my last check on my truck note Chrysler Financial destroyed my credit history. In fact, my credit report will show a good payment history with only 6 late thirty day payments. However, being a good paying customer did little to protect my credit history from Chrysler Financial AFTER PAYING OFF MY TRUCK NOTE. Chrysler Financial Customer Service Representatives simply said “Too Bad“ and “We can charge off your credit report anytime when you are late - even 1 day”. These responses to my inquiries were justified because I made my pay-off amount (which included some unusual and unexpected fees) near 30 days after my last payment due date, they said. However, I was current on my payments up to November, 2010, according to Chrysler Financial and my credit report.

In addition, I found Customer Service had received my last payment well before the posting date because customer service told me “we did receive your final payoff amount on December 15th 2010, however, the funds must first be transferred from one of our subsidiary accounts”. Therefore, “your payment will post after we transfer those funds internally within our company”. The end result for me was Chrysler Financial posted a “Charge Off” on my credit report for January, 2011 showing the last payment outstanding. The customer service department said "We can hold your payoff funds in separate account and continue to 'Charge off' your credit report in subsequent months." This is a fraudulent posting to a credit report in violation of law particularly when the evidence shows final payoff received and posted in December, 2010.

Chrysler Financial customer service always indicated “the truck title has been mailed.” However, I have yet received my legal claim to vehicle ownership, as of February 15, 2011, over 2 months after having the last payment deducted from my checking account.

I have a few questions:

1) Why would any finance company intentionally destroy an individual credit history without cause or reason?
2) How would any finance company be best served by attacking an individual credit history a month AFTER a good
payment history and final payment?
3) Why does Chrysler Financial have an “F” rating with the Better Business Bureau in Texas (Roanoke, TX)?
4) Why does the company hold my vehicle title "over my head?"
5) Chrysler Financial was bailed out by US Government through TARP. Welcome to Government Financing?
Please contact me if you have any questions, comments or if desire attaching evidence (credit report and payment history. My e-mail is: [email protected]