Date Received: 2022-12-30
Issue: Managing the loan or lease
Subissue: Problem with fees charged
Consumer Complaint: On XX/XX/2022 I was fraudulently charged extra fees without being explained to what the charge was for. As well as a fraudulent {$1000.00} dollar down payment, a {$1400.00} dollar XXXX XXXX fee, a {$96.00} dollar roadside Assistance fee, and a list of other fraudulent fees adding up to {$640.00} dollars. And the vehicle interest rate to jump to 23.01 % that was not mentioned or explained to me. Resulting in the vehicle purchase price going from {$12000.00} dollars to {$33000.00} dollars.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: IN
Zip: 464XX
Submitted Via: Web
Date Sent: 2022-12-30
Company Response to Consumer: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-12-30
Issue: Struggling to pay your loan
Subissue: Lender trying to repossess or disable the vehicle
Consumer Complaint: XXXX my mom took over an agreement of {$100.00} to keep my car from going to repo, to include thats also over the reason has been negatively affecting my credit. I was XXXX I have documentation upon release. No third party without consent from the leaser should have made proceeded due to non communication, no understanding, no break down of what only a payment of {$100.00} when the agreement was {$410.00} monthly so all charges was a build up. XXXX is the passed due balance which is negatively affecting my credit. How can I go about any progression for this? Thank you, XXXX XXXX
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: TN
Zip: 37209
Submitted Via: Web
Date Sent: 2022-12-30
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-12-27
Issue: Charged fees or interest you didn't expect
Subissue:
Consumer Complaint: Ive recently been made aware of consumer law and the violations that have been made against me. As a result of this im LEARNING how to undue all the damage that has been done over the years. One of these companies in violation of TILA and CFPB requirements is CREDIT ACCEPTANCE CORPERATION. i will attach all files needed. This company has not clearly and inconspicuously made clear to me if the amount was paid at purchase and if not and is to be credited in installments they also have not made it CLEAR the steps for me to take in which they will accept the payment coupon theyve sent to me numerous times along with asking for ADDITIONAL payment. I have tried to work it out with the company with a written notice AND affidavit of truth sent via certified mail. As i use the tracking number on the mail sent i can see that it has not been picked up and has repeatedly been avoided. I am excersing my right to express i see billing errors and want to dispute the amount since they are not being CLEAR to me what the amount is who the creditor is who the lender is when has it been paid and how can i properly endorse the coupon they send to me monthly. Also the company has not sent a statement or any mail since XX/XX/ it is now XX/XX/ at the time of this complaint and although they do not send statements monthly as required, they repeatedly call me asking to pay a debt. The law codes for the violations that have been spotted are found under : 15 USC 1026.10 15 usc 1026.13 ( a ) ( 2 ) 4 and 7 15 USC 1605 determination of finance charge The latter violation is the biggest violation as it leads to other violations on the fals narritive that this has not already been paid for pursuant to 15 usc 1605 And the final violation spotted 15 usc 1666b Constantly reporting late payments. The law codes that describe the fines for violations are found under 15 usc 1681m I understand that the CFPB has a process and a way of handling these complaints and as the consumer that is learning how to handle the violations i ask that you instruct me of any additional information for confirmation or investigation that you need from me. I will gladly cooperate with the CFPB on any information gathering reguarding this complaint. I am aware of the fines for each violation being in between {$100.00} and {$1000.00}, no more no less. And i want the full {$100.00} per violation. I have a statement marked with the billing errors per violation. Resolution of this complaint needed would be the fee for the violations made and the IMMEDIATE correction of the account according to the outcomes of the CFPB investigation. I authorize the CFPB to use their best discretion in determining a resolution with the violations seen AND not seen or expressed.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: OH
Zip: 458XX
Submitted Via: Web
Date Sent: 2023-01-25
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-12-27
Issue: Getting a loan or lease
Subissue: Fraudulent loan
Consumer Complaint: Me and My husband XXXX XXXX are victims of predatory lending by XXXX XXXX XXXX, XXXX and Credit Acceptance Corporation. XXXX XXXX XXXX, XXXX and Credit Acceptance Corporation capitalized on our lack of knowledge within the auto industry as it has done other minorities by offering higher interest loans and hidden fees. XXXX XXXX XXXX, XXXX XXXXXXXX XXXX, NJ XXXX and Credit Acceptance Corporation need to be investigated for their faulty practices with minorities and low income consumers. XXXX XXXX XXXX markets themselves as being quote " friendly and knowledgeable staff that will aid in finding the perfect price that fits the consumers budget '' I have provided an image from their website to prove their deceptive ways. XXXX XXXX XXXX, XXXX knew that me and my husband had just experienced XXXX 2 weeks XX/XX/XXXX prior to us receiving the car. The rep XXXX XXXX said that we can drive the car but to come back in 2 weeks on XX/XX/XXXX to sign the papers. The rep lied on the contract and said I was hired as self employed and that I made {$4100.00} to imply that it was a monthly gross income which is not true I made {$4000.00} that month and had been a real estate agent since the prior year XXXX. The rep placed me as the cosigner without explaining what I was signing, I thought I was signing up to also be an owner of the vehicle mind you it was late in the day and we were the only one 's there signing paperwork so there was a feeling of being rushed. The rep also put my husbands pay at {$2500.00} a month which was a lie. At the time my husband was working per diem for the XXXX XXXX which meant as needed he only went in when they needed him no set hours. This lead anyone who has the contract to believe that I made more than double the amount as my husband as the co-signer which I did not know that I was signing the paperwork to be a co-signer. We trusted XXXX XXXX XXXX, XXXX as being friendly which means trusted and knowledgeable which means they knew more but cared enough to take our situation into consideration. We did not want to pay more than {$10000.00} the van was advertised as {$9000.00} it was never explained to us that since we had low credits and a XXXX that the interest rate would be so high that we would be paying back around {$20000.00}. Credit Acceptance Corporation markets themselves off of being knowledgeable with educating consumers and helping build credit. Both companies are capitalizing off of low income communities which are mainly minorities that dont have the proper knowledge and rely on the sales professionals to handle their situations with care and ease. We were completely taken advantage of and this violates our rights as consumers. Credit Acceptance should have picked up these gaps in the contract but instead they were just as deceptive with hidden fees including tacking on fees and percentages that were supposed to be forgiven during Covid-19. After careful research I now know that we should have never been presented with a contract that we could not afford which all the professionals should have been aware of this is completely deceptive and should be brought to attention for corrective actions.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: NJ
Zip: 080XX
Submitted Via: Web
Date Sent: 2022-12-27
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-12-27
Issue: Getting a loan or lease
Subissue: High-pressure sales tactics
Consumer Complaint: On XX/XX/XXXX, I visited a car lot in search of a XXXX XXXX, I provided the salesperson with my Identification and Social security card while I looked at vehicles, he ran my credit. He told me I was approved for a XXXX XXXX XXXX for {$7500.00} down payment. Upon signing the agreement, I noticed that my name was not my correct name, it reflected my Middle name, I asked why, he said it was just to make sure that I was approved. Thats predatory, and not only predatory, I never gave permission for this.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: MI
Zip: 482XX
Submitted Via: Web
Date Sent: 2022-12-27
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-12-27
Issue: Improper use of your report
Subissue: Reporting company used your report improperly
Consumer Complaint: In accordance with the fair credit Reporting act XXXX Account # XXXX, has violated my rights. 15 USC 1681 Section 602 States I have the right to privacy. 15 USC 1681 Section 604 A Section 2 : It also states a consumer reporting agency can not furnish a account without my written instructions. 15 USC 1666B : A creditor may not treat a payment on a credit card account under an open end consumer credit plan as late for any purpose.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: LA
Zip: 70126
Submitted Via: Web
Date Sent: 2022-12-27
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-12-27
Issue: Problem with a credit reporting company's investigation into an existing problem
Subissue: Investigation took more than 30 days
Consumer Complaint: Updated and new information in relation to CFPB Complaint XXXX response letter attached to this complaint. Credit Acceptance stated in response : Your privacy rights were not infringed by Credit Acceptance reporting your account status to the credit bureaus and you can not opt out of credit reporting when you finance a vehicle through Credit Acceptance. My initial complaint stated that Did I give you written instructions to furnish this on my credit report? Furthermore, the FIAR CREDIT REPORTINGACT 15 USC 1681 ( 2 ) ( a ) ( i ) Exclusions from a consumer credit report clearly states : ( 2 ) 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. Delete the late payments from my consumer report this agency is in violation of 15 USC 1681 : I would like resolution on this I would like my late payments reversed in accordance with the law that I stated. Also 15 U.S. Code 6802 - Obligations with respect to disclosures of personal information states : Except as otherwise provided in this subchapter, a financial institution may not, directly or through any affiliate, disclose to a nonaffiliated third party any nonpublic personal information, unless such financial institution provides or has provided to the consumer a notice that complies with section 6803 of this title. ( b ) Opt out ( 1 ) In general A financial institution may not disclose nonpublic personal information to a nonaffiliated third party unless ( A ) such financial institution clearly and conspicuously discloses to the consumer, in writing or in electronic form or other form permitted by the regulations prescribed under section 6804 of this title, that such information may be disclosed to such third party ; ( B ) the consumer is given the opportunity, before the time that such information is initially disclosed, to direct that such information not be disclosed to such third party ; and ( C ) the consumer is given an explanation of how the consumer can exercise that nondisclosure option. ( 2 ) Exception This subsection shall not prevent a financial institution from providing nonpublic personal information to a nonaffiliated third party to perform services for or functions on behalf of the financial institution, including marketing of the financial institutions own products or services, or financial products or services offered pursuant to joint agreements between two or more financial institutions that comply with the requirements imposed by the regulations prescribed under section 6804 of this title, if the financial institution fully discloses the providing of such information and enters into a contractual agreement with the third party that requires the third party to maintain the confidentiality of such information. I have been told in a response to me sent via the CFPB portal that I can not OPT OUT option with Credit Acceptance. 15 U.S. Code 1666b - Timing of payments : States ( a ) Time to make payments A creditor may not treat a payment on a credit card account under an open end consumer credit plan as late for any purpose, unless the creditor has adopted reasonable procedures designed to ensure that each periodic statement including the information required by section 1637 ( b ) of this title is mailed or delivered to the consumer not later than 21 days before the payment due date. ( b ) Grace period If an open end consumer credit plan provides a time period within which an obligor may repay any portion of the credit extended without incurring an additional finance charge, such additional finance charge may not be imposed with respect to such portion of the credit extended for the billing cycle of which such period is a part, unless a statement which includes the amount upon which the finance charge for the period is based was mailed or delivered to the consumer not later than 21 days before the date specified in the statement by which payment must be made in order to avoid imposition of that finance charge. The Gramm-Leach-Bliley Act States : Opt-Out Notices General Obligations If you share their NPI with nonaffiliated third parties outside of three exceptions ( see " Exceptions '' ), you must give your consumers and customers an " opt-out notice '' that clearly and conspicuously describes their right to opt out of the information being shared. An opt-out notice must be delivered with a privacy notice, and it can be part of the privacy notice. The opt-out notice must describe a " reasonable means '' for consumers and customers to opt out. They must receive the notice and have a reasonable opportunity to opt out before you can disclose their NPI to these nonaffiliated third parties. Acceptable " reasonable means '' to opt out include a toll-free telephone number or a detachable form with a check-off box and mailing information. Requiring the consumer or customer to write a letter as the only option is not a " reasonable means '' to opt out. Note : While the GLB Act does not require you to provide an opt-out notice if you only disclose NPI to affiliates, if you share certain information with your affiliates, you may have an obligation to provide an opt-out notice under the Fair Credit Reporting Act. That opt-out notice must be included in your GLB privacy notice ( see " Fair Credit Reporting Act '' ). The response stated that no law was violated under the FCRA, FTC, GLB Act. I would ask XXXX XXXX XXXX XXXX Legal Counsel Compliance Department Credit Acceptance to correct my credit report as I asked or Delete account I will be filing a complaint of violation of GLB Act to FTC if you do not comply POTENTIAL GLBA PENALTIES Financial institutions found in violation face fines of {$100000.00} for each violation. Individuals in charge found in violation face fines of {$10000.00} for each violation. Individuals found in violation can be put in prison for up to 5 years. I will be filling a complaint to XXXX if you don't comply with my request I will also seek damages in court of {$1000.00} per violation of FCRA consumer laws that you break.
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: 2022-12-28
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-12-28
Issue: Incorrect information on your report
Subissue: Account status incorrect
Consumer Complaint: I would like this Credit Acceptance to remove my late payments. This was due to Covid when everyone was locked in their home and could not work.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: PA
Zip: XXXXX
Submitted Via: Web
Date Sent: 2022-12-28
Company Response to Consumer: Closed with non-monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-12-28
Issue: Incorrect information on your report
Subissue: Account information incorrect
Consumer Complaint: I was experiencing some financial hardships and homelessness and was behind on car payments but Ive paid what i owe
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: MI
Zip: 48111
Submitted Via: Web
Date Sent: 2022-12-28
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-12-26
Issue: Getting a loan or lease
Subissue: Fraudulent loan
Consumer Complaint: I have not found a XXXX XXXX for Credit Acceptance nor XXXX XXXX XXXX. XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX requires the licensing and regulation of finance lenders and brokers making and brokering consumer and commercial loans, except as specified ; prohibits misrepresentations, fraudulent and deceptive acts in connection with making and brokering of loans ; and provides administrative, civil ( injunction and ancillary relief ) and criminal remedies for violations of the law. Only active license Credit Acceptance have is out of state non in California state as required by law.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: CA
Zip: 93551
Submitted Via: Web
Date Sent: 2022-12-26
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A