Date Received: 2023-01-18
Issue: Improper use of your report
Subissue: Reporting company used your report improperly
Consumer Complaint: Credit Acceptance, is reporting our transactions and experiences to two of the major credit agencies XXXX XXXX XXXX report on XX/XX/2018. A report to my consumer report that was not authorized or sanctioned by the consumer ( I ) has now damaged my credit score extensively. This report is a direct violation in accordance with U.S. code Title 15 1681a section ( 2 ) Exclusions subsection ( ii ).
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: MI
Zip: 48911
Submitted Via: Web
Date Sent: 2023-01-18
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-01-17
Issue: Managing the loan or lease
Subissue: Problem with the interest rate
Consumer Complaint: This loan is regarding the class action law suit against XXXX XXXX I bought a used vehicle from XXXX and they used credit acceptance as there finance company and I believe that they knowingly used this financial company without regards to the comsumers and credit acceptance unethical dealings.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: MI
Zip: 48842
Submitted Via: Web
Date Sent: 2023-01-17
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-01-17
Issue: Improper use of your report
Subissue: Reporting company used your report improperly
Consumer Complaint: n accordance with the Fair Credit Reporting act XXXX Account # XXXX, has violated my rights. 15 U.S.C 1681 section 602 A. States I have the right to privacy. 15 U.S.C 1681 Section 604 A Section 2 : It also states a consumer reporting agency can not furnish a account without my written instructions
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: TN
Zip: 378XX
Submitted Via: Web
Date Sent: 2023-01-17
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-01-17
Issue: Getting a loan or lease
Subissue: Fraudulent loan
Consumer Complaint: Credit acceptance car loan company charging me $ XXXX for a cont ract I did not agree to. I made no agreement with these people. I was supposed to purchase a vehicle from this buy here pay here car lot. The owner came to my XXXX XXXX and got copies of documents. XXXX XXXX XXXX XXXX XXXX XXXX XXXXXXXX XXXX. I never signed anything with this credit acceptance company. I have tried to settle the matter with them no luck so I have been contacting the AG attorney general office for years. I HAVE REQUESTED SEVERAL TIMES FOR COPY OF CONTRACT WITH MY SIGNATURE SO I CAN SUE FOR FRAUDULENCE that has effected my recovery and my quality of living by effecting my credit
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: GA
Zip: 30252
Submitted Via: Web
Date Sent: 2023-01-17
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-01-17
Issue: Managing the loan or lease
Subissue: Problem with additional products or services purchased with the loan
Consumer Complaint: Abusive and deceptive practices regarding loan circumstances, unjust interest rates, deceptive business tactics, deceptive dealership consumer luring, using discretion with vital information in consumer regard, dealership being compensated after loan and payments being made. Misrepresenting finance-and-insure products as mandatory and hiding the fact they were there within the deals to buy the cars. Pretending to be third party companies within the contract such as XXXX and repair shops. Deceptive consumer reporting and refusing to show receipt of check from XXXX company as requested. They are in violation of Georgia Usury laws of maximum 7 percent.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: GA
Zip: 314XX
Submitted Via: Web
Date Sent: 2023-01-17
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-01-18
Issue: Struggling to pay your loan
Subissue: Loan balance remaining after the vehicle is repossessed and sold
Consumer Complaint: I'm contacting the cfpb in regard to a car loan. I purchased a XXXX scion with 41,000 miles through XXXX XXXX. I was making payments in the amount of XXXX however in XXXX, I couldn't afford the car payments due to gunshot injuries. They told me the car was 18,000, I later found out the car was more than that. They also charged me 18.99 percent, their finance charge XXXX total cost of the car XXXX which is unbelievable. The car had no equity, the loan was up side down to start and the apr rate is beyond Connecticut 's law. This is a clear case of predatory lending which violate the laws here in Connecticut. The lending practice in my case imposes unfair and abusive loan terms on borrowers, including high-interest rates, high fees, and terms that strip me the borrower of equity. I did not understand the terms of this agreement when i bought this car. I had no knowledge of the APR. The salesman was trying to make a sale by any means necessary. Paying XXXX for a XXXX car is crazy. The lender violated local or federal laws, including the Truth in Lending Act ( TILA ) by approving such loans with these terms. Credit Acceptance is currently being sued by New York Attorney general and the CFPB for this very thing. In the state of Connecticut an auto loan APR can not exceed 12 % pursuant to Section 36a-573 of the Banking Law of Connecticut, no person is authorized to charge, contract or receive any interest or consideration greater than 12 percent per annum upon the loan, use or forbearance of money, or credit of the amount or value.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: CT
Zip: 06511
Submitted Via: Web
Date Sent: 2023-01-18
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-01-18
Issue: Getting a loan or lease
Subissue: Fraudulent loan
Consumer Complaint: I am writing this letter because I have recently been educated on my rights as a consumer and after reviewing the contract that was presented to me at XXXX XXXX XXXXXXXX XXXX on XX/XX/XXXX, of XXXX, I am clear that those rights have been violated. Please see the list of violations that occurred during my consumer credit transaction to purchase the XXXX XXXX XXXX noted below. It is a fact that I provided a cash down payment in the amount of {$2300.00}, however per 15 USC 1605a no cash down payment can be collected when there is a finance charge. Pursuant to 15 USC 1662b it is illegal to require a down payment in conjunction with an extension of consumer credit. It is a fact that I was told that the cash down payment would reduce the total amount of the purchase price, however on page 1 of the contract it clearly shows that the down payment was not subtracted but added to the purchase price of the vehicle. This is a billing error pursuant to 15 USC 1666. It is a fact that I understand pursuant to 15 USC 1605, that the finance charge is the sum of all charges. On the 1st page of the contract the finance charge is misrepresented to be only {$10000.00} when in fact the sum of all charges would be {$27000.00}. This is a violation of 15 USC 1692e ( 2 ) ( A ). It is a fact that pursuant to 15 USC 1605, a finance charge, which is the sum of all charges, should include all insurance premiums. However, no charges dealing with insurance was included in the finance charge per the contract. The members of your staff did not even disclose that insurance was to be included with the finance charge, they just called XXXXXXXX XXXX XXXX on my behalf and made me contract with them separately. This is a violation of what is written in this law. 1 It is a fact that once there is a dispute of any billing error, a creditor can not report any information to a 3rd party until the dispute has been resolved, pursuant to 15 USC 1666a. It is a fact that it was never disclosed that all service fees were to be included with the finance charge as noted per 15 USC 1605. It is my understanding that any and all services that may be needed for the life of this vehicle will be covered by your company and that I would only be responsible for the cost of parts. It is a fact that pursuant to 15 USC 1692c, I am providing notice that I refuse to pay any debt and as the original creditor ( since I created the debt ) I intend to invoke a specified remedy. It is a fact that disclosure of my rights to rescind the consumer credit transaction or the documents required for me to rescind the transaction was never provided to me as required pursuant to 15 USC 1635. Under 15 USC 1635, I am exercising my right to rescind the consumer credit transaction, which would include any power of attorney. Since the vehicle has depreciated in value it is not equitable for me to return the vehicle. Within 20 days of receiving this notice, you will return the down payment and all payments made in relation to this contract as well as take all required action to reflect the termination of your security interest that was created by this consumer credit transaction.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: TN
Zip: 38125
Submitted Via: Web
Date Sent: 2023-01-18
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-01-16
Issue: Managing the loan or lease
Subissue: Problem with the interest rate
Consumer Complaint: Now comes XXXX XXXX, pursuant to the underlying case as to the Consumer Financial Protection Bureau v. Credit Acceptance Corporation, Case No. XXXX XXXX, XXXX. The CFPB, XXXX XXXX, has brought action against CAC for obscuring the true cost of its loans to its car buying customers and cutting back room deals with its affiliate car dealerships to increase their profits. XXXX XXXX asserts that he was and currently is a recipient of these unlawful acts committed by CAC and files this complaint while adding the XXXX XXXX XXXX. As CFPB 's suit asserts regarding CAC 's New York customers, XXXX XXXX is asserting the same happening to him in Maryland with three retail installment loans, two priors and one current. The first one was a XXXX XXXX XXXX sold by XXXX XXXX XXXX, XXXX XXXX XXXX, XXXX XXXX, XXXX ; APR 22.99 %, Finance charge {$5100.00}, Amount financed {$8800.00}, Total of payments, {$14000.00}, Total sales price $ XXXX {$15000.00}, Payments {$400.00} @ XXXX payments beginning XX/XX/XXXX. Second contract, XXXX XXXX XXXX sold by XXXX XXXX XXXX XXXX XXXX XXXX, XXXX XXXX XXXX, XXXXXXXX XXXX ; APR 22.99 %, Finance charge, {$12000.00}, Amount financed {$15000.00}, Total of payments {$27000.00}, Total sales price $ XXXX {$29000.00}, Payments {$420.00} @ XXXX payments beginning XX/XX/XXXX. And currently, XXXX XXXX XXXX sold by XXXX XXXX XXXX, XXXX XXXX XXXX XXXX XXXX XXXX XXXX Note : a XXXX search says this company is temporarily closed ; moreover APR 22.99 %, Finance charge {$10000.00}, Amount financed {$14000.00}, Total payments {$25000.00}, Total sales price # XXXX {$27000.00}, Payments {$410.00} @ XXXX, XX/XX/XXXX, XXXX all three contracts had XXXX XXXX XXXX connected who did not honor their part of the contract. For example when XXXX XXXX 's current car needed his motor replaced which was totally covered by them, but they made him pay {$3000.00} and they paid the rest. This was money he did not have but had to borrow. However the results of these actions is nothing but fraud of contract which made and is making XXXX XXXX pay exorbitant cost for vehicle ( s ) beyond the dealership price and value. Moreover, CAC is making additional undisclosed money between the finance and credit sections beyond XXXX XXXX affordability thereby increasing their profits. This action violates Maryland 's usury laws. And again CAC is still doing it as XXXX XXXX continues to pay them a weekly {$120.00} toward his {$410.00} monthly payment. As a result of CAC 's fraud and deceit and other illegalities, XXXX XXXX seeks monetary relief of XXXX XXXX dollars for disgorgement of unjust gains they made and is making from all three of his Installment contracts. Additionally, he seeks to only pay the dealership cost of his current vehicle of {$10.00} and put the {$3000.00} deposit toward it which results in a balance of {$7000.00} owed and decrease his payments accordingly. Respectfully Submitted.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: MD
Zip: 21207
Submitted Via: Web
Date Sent: 2023-01-16
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-01-16
Issue: Struggling to pay your loan
Subissue: Lender trying to repossess or disable the vehicle
Consumer Complaint: The action was take, i called to inform them that i was turning in the car to prevent them from reporting the car repossessed. They informed me to turn it in ut then place it as a repo on my credit and it has has messed up my credit and affecting my job. Need your help, anothet dealership did this to me before and lost and they had to pay me back. Seeking your help with this.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: VA
Zip: 238XX
Submitted Via: Web
Date Sent: 2023-01-16
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-01-13
Issue: Problem with a credit reporting company's investigation into an existing problem
Subissue: Their investigation did not fix an error on your report
Consumer Complaint: Updated and new information in relation to CFPB Complaint XXXX response letter attached to this complaint. My initial complaint also stated that Credit Acceptance is in Violation of FAIR CREDIT REPORTING ACT 15 USC 1681 ( 2 ) ( a ) ( i ) Exclusions from a consumer credit report clearly states : ( XXXX ) EXCLUSIONS Except as provided in paragraph ( 3 ), the term consumer report does not include ( A ) Subject to section 1681is-3 of this title any ( i ) report containing information solely as to transactions or experiences between the consumer and the person making the report. In response the my privacy rights being violated Credit Acceptance has not sent me an annual privacy notice disclosure for XXXX, XXXX, and XXXX this violates XXXX XXXX : I would like to ask when I am supposed to receive my privacy disclosures as a customer/consumer? I would ask that if you are in violation not to ignore my request and just answer to what you can slide around without answering please give me the information I am asking for? Delivering Privacy Notices You must deliver your privacy notices to each consumer or customer in writing, or, if the consumer or customer agrees, electronically. Your written notices may be delivered by mail or by hand. For individuals who conduct transactions with you electronically, you may post your privacy notice on your website and require them to acknowledge receiving the notice as a necessary part of obtaining a particular product or service. For annual notices, you may reasonably expect that your customers have received your notice if they use your website to access your financial products or services and agree to receive notices at your website, and you post your notice continuously in a clear and conspicuous manner on your website. - I have never been asked for permission to receive my privacy notice electronically nor have I ever agreed to received privacy disclosures electronically from Credit Acceptance thus Credit Acceptance is in violation of not sending me privacy notices for XXXX, and XXXX under the Gramm-Leach-Bliley Act
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: MI
Zip: 483XX
Submitted Via: Web
Date Sent: 2023-01-13
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A