Date Received: 2023-10-25
Issue: Incorrect information on your report
Subissue: Account information incorrect
Consumer Complaint: Between XX/XX/2023 and XXXX XXXX Credit acceptance has reported to the credit bureaus that my car loan increased by XXXX dollars by missing a payment that's clearly not the case resulting in my credit score dropping by XXXX points with XXXX and XXXX XXXX My balance as of XX/XX/2023 should be XXXX decreased from XXXX. What caused this increase balance? Not certainly a missed payment like they're incorrectly reporting. If this issue is not resolved i will sue them in court.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: MI
Zip: 48205
Submitted Via: Web
Date Sent: 2023-10-25
Company Response to Consumer: Closed with explanation
Timely Response: No
Consumer Disputed: N/A
Date Received: 2023-10-26
Issue: Managing the loan or lease
Subissue: Billing problem
Consumer Complaint: Vehicle was totaled on XX/XX/XXXX and reported to Credit Acceptance CORP to pick up the car. It was placed in storage and sold from storage depot on XX/XX/XXXX XXXX Credit Acceptance CORP was notified of this in XXXX and has failed to remove the car from my credit report and has charged me each month for over 3 years. I have tried to settle this by asking for a pay and delete and have been unsuccessful at this time I am asking for the report be removed. Prior to the wreck I was never late on payments and this happen right before I lost my jo due to covid. I requested covid relief in XXXX as well. I spoke to the repo team giving the vin so they could find the car and Credit Acceptance CORP has been unsuccessful with taking care of this.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: AZ
Zip: 85043
Submitted Via: Web
Date Sent: 2023-10-26
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-10-24
Issue: Repossession
Subissue: Loan balance remaining after the vehicle is repossessed and sold
Consumer Complaint: - After four years of owning my beloved XXXX XXXX, it stopped running during a WI winter, I needed a vehicle so I searched online- I found an SUV with a {$5500.00} sticker price - I had {$5000.00} cash on hand, and was willing to pay in full - Dealership declined as I was short {$500.00} and convinced me to accept a deal that required {$1500.00} down payment if car loan was opened. He pitched a guaranteed increase in credit score, price tag would not change, and any malfunctions would be covered if added on Gap insurance and warranty, all because he could not budge on the cash offer - I left that night, he called me back with a better deal desperate for a car I return via XXXX, car seat in tow - He offered to trade my inoperable car for to shave the cost down. - I agreed to the terms and initiated the car loan XXXXXXXX XXXX XXXX - During signing it was revealed the true cost would total nearly XXXX. Which, although I was upset about the hidden fees, I could not refuse due to my need to get back and forth to work and my 18 month old to child care - By XX/XX/XXXX, the truck 's engine went out - I went back and forth between warranty holders, credit acceptance and XXXX XXXX regarding coverage for the vehicle 's engine- this was a three month process - Continued to pay in full for 8 months XXXX - XXXX {$480.00} ~ XXXX paid off - In XX/XX/XXXXXXXX XXXX I was informed Insurance, nor warranty did not cover the costs of the {$7000.00} job as quoted by XXXX- I then called Credit acceptance and informed them that the cost of the repair exceeded the cost of the vehicle and I would like to use the remainder of my loan to acquire a new vehicle. To which they stated they could not help, but I had to continue to make those payments to settle to XXXX debt. Around this time they quoted and reported to the credit bureaus that it was an {$8500.00} debt ( the amount the loan began with ) - During another phone conversation with CAC in XXXX of XXXX, I informed the supervisor that I wanted to surrender the vehicle, to which they denied me the right. - In XXXX of XXXX, I called CAC to once again come to an agreement. The associate explained there was nothing they could do and I still need to pay every month. I explained to them that I will not continue paying the nearly {$500.00} bill for a vehicle that hasnt worked in months, so it would be best if they just picked it up. - By the end of the month, CAC repossessed the vehicle, closed the account and reported to the credit bureaus an involuntary repossession - After repossession, the vehicle was sold in a local auction - 3 years later, Credit Acceptance is reporting increasing values to credit bureaus, with a balance now exceeding {$9400.00}
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: WI
Zip: 532XX
Submitted Via: Web
Date Sent: 2023-10-24
Company Response to Consumer: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-10-24
Issue: Managing the loan or lease
Subissue: Problem with the interest rate
Consumer Complaint: One time I called to see the amount of money I own in the car and they told me i own XXXX And like two weeks ago I called and told me that i own XXXX dollars on a car that's is not worth it but the problems come from the dealer if you search for them and see the reviews that they have you'll see that many people saying they even open an account to people without the person concern the yo every dealer I go they don't want to take the car because the amount of money they put at the beginning I had a car different to the one I actually have and they cancel de loan with the bank and added the one that I have right now and what I think is they mixed both of the amount money of each car because that's not normal to have such a high bill when they told me I just own XXXX they are thief as the dealer where I got the car from when I first got the car it got overheat and I had to return to the dealer and I told them I don't want that car and they told me they can't do anything, they sold me that car for XXXX a XXXX XXXX XXXX you think that's fair?
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: NJ
Zip: 08861
Submitted Via: Web
Date Sent: 2023-10-24
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-10-23
Issue: Managing the loan or lease
Subissue: Problem with the interest rate
Consumer Complaint: I have only lived on the mainland for XXXX years. I co-signed on a loan for a friend for a car loan and she later had health problems and was unable to make any payments, she left the united states so the car became my issue. I was not familiar with this process, the sales man was very nice but did not explain things well. I signed a paper giving authorization for electronic signatures. As he rushed through the documents, everything seemed ok and not a big deal. Just click here to agree ..... It was only after I became responsible for the payments I learned what I had actually agreed to do. I felt the salesman rushed over this, I did not understand the process. I am upset at the extra fees that were charged for the extended warranty and GAP insurance, these were not fully explained ; the salesman was more interested in selling a car than making sure I understood how serious an auto loan is and the full responsibility I was agreeing to as a co-signer. I can not make the payments it is simple. The original value of the car was {$10000.00}, {$9900.00} after a down payment but with the interest rate of 22.99 %, the loan was $ XXXX {$12000.00} in interest charges! The balance today is {$13000.00} after XXXX years of payments, the car is only worth XXXX or XXXX XXXX dollars. I called XXXX XXXX, they would not do anything and refused to discuss any options telling me only that I could try to refinance. They would not consider lowering the interest rate, lowering the payments or removing the extra fees. I can see online a complaint was filed against credit acceptance for exactly the problems I experienced. I felt pressured into products I did not need and for sure did not understand, I am unable to make payments and can not refinance. I feel trapped into this loan and there is nothing I can do. I am not sure I can ever pay this off and if I do, the car will be old and I may have nothing at the end of it all. I did try to refinance the loan but was told I need a co-signer but I was surprised the interest rate would have been much lower. How can that be? Trying to refinance made me feel taken advantage of on the original interest rate.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: PA
Zip: 17109
Submitted Via: Web
Date Sent: 2023-10-23
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-10-23
Issue: Problem with fraud alerts or security freezes
Subissue:
Consumer Complaint: Someone purchased a vehicle through a Credit Acceptance company using my personal information. I reviewed my credit report and noticed this on my credit report I've never purchased a car from a lot. Once I gathered the information I contacted the company to retrieve more information about this transaction and have been left with not only unanswered questions but a horrible credit score that can't be repaired.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: LA
Zip: 70301
Submitted Via: Web
Date Sent: 2023-10-23
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-10-24
Issue: Repossession
Subissue: Company explaining amount owed
Consumer Complaint: I asked for the breakdown of all the charges connected with my account which includes the interest, late charges, and principle amount. Also I rescinded the contract for breach due to non disclosure! Also I let them know they violated the Truth in Lending Act because no cash is supposed to change hands in a credit transaction! Plus the XXXX XXXX was violated to with that high interest rate!
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: TX
Zip: 75904
Submitted Via: Web
Date Sent: 2023-10-24
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-10-22
Issue: Incorrect information on your report
Subissue: Account information incorrect
Consumer Complaint: Showing a repossession for 6 months and it was only repossessed 1 month Showing false report Not letting me get a loan because there false information
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: TN
Zip: 380XX
Submitted Via: Web
Date Sent: 2023-10-22
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-10-20
Issue: Improper use of your report
Subissue: Reporting company used your report improperly
Consumer Complaint: While viewing my credit report I noticed unfamiliar account that doesnt belong to me .I understand that before any accounts or information can be furnished to the credit bureaus all information and all accounts must be 100 % accurate verifiable and properly validated I am not disputing the existing but I denied that I am the responsible debtor. I hereby that the account be. Legally, validated or be removed from my credit report immediately. There is a outstanding balance of {$31000.00} from credit acceptance corporation
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: MI
Zip: 48227
Submitted Via: Web
Date Sent: 2023-10-20
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-10-20
Issue: Struggling to pay your loan
Subissue: Denied request to lower payments
Consumer Complaint: i d not appreciate my complaint being marked duplicate as it is not. my issues HAVE not been addressed. they have not called emailed or done anything to correct the fraud other then refund us XXXX which is not the XXXX that is owed to us. as well i have requested to be released as co signer from the loan and they refuse to do anything to make this happen i didnt even have a job. I HAVE ASKED FOR THE CFREDIT REPOIRT TO ACTUALLY REFLECT THE BALACNE OF XXXX THAT THE LOAN WAS FOR NOT THE XXXX IT STAES YOU CANT EVEN ACURATLY REPORT YOUR FRADULENT LOANS.??????? I WANT IMMEDIATLY RELEASED AS CO SIGNER OF THIS LOAN AS I DIDNT HAVE A JOB WHEN I SIGNED AND MY WIFE WHOS CAR IT WAS AND LOAN IT WAS AS THE ONLY ONE WITH INCOME SO READ THE COMPLAINT AGAIN YOU JUST MARKED AS DUPLICATE AND STOP LIEING MY COMPAINT IS NOT A DUPLICATE IM A DIFFERENT PERSON WITH DIFFECNT COMPLAINTS AND YOU HAVE NOT ADDRESSED A SINGLE ONE THIS IS NOT A DUPLIACTE COMPAINT AS THE BANK CONTINUES TO TRY TO MAKE ADJUSTMENTS TO OUR LOAN CONTRACT SND LIE SATYING THERES BEEN A RESOLUTION ANS THERES NOT A REOLUTION TO A TRUCK WITH NEARLY XXXX XXXX DOLOLARS IN REPAIR WORK COVERED BY A SERVICE CONTRACT EW PAID CREDIT ACCEPTENCE FOR.. WE DID NOT AGREE TO A REFUND OF THE WARRANTY WE BOUGHT WE ASKED FOR A REFUND FOR THE WARRANTY AND TRUCK AS WE HAVE BEEN DENIED THE USE CONTIONUALLY. THE BANK CREDITED MY WIFES ACCOUNT THAT I AM THE CO SIGNER OF AFTER 20 months OF HER TRUCK BEING IN THE SHOP. STATING WE ARE SORRY YOU WERE UNABLE TO USE YOUR SERVICE AGREEMENT. THATS A BIT TO LATE THE TRUCKS BEEN IN THE SHOP IN PIECES FOR 20 MONTHS YOU DID NOT CARE NOR MAKE ANY EFFORT TO CORRECT THE ISSEUE. ASND NOW WE CAN LEGALLY SUE YOU IN THE COURT OF LAW FOR BREACH OF CONRTACT. WE THIS TRUCK WAS NOT SFE THE DAY IT LEFT HE DEALERSHIPS LOT NO SAFETY LIGHTS PURTCHASED A TRUCK WITH A SERVICE CONTRACT FOR REPAIR WORK. NOT A TRUCK WITHOUT A CONTRACT AND NOW THEY REFUNDS MY SERVICE CONTRACT WHICH WE DID NOT ASK FOR WE ASKED FOR A REFUND WE HAVE PAID OVER XXXX FOR A CHECILE THAT HAS BEEN IN THE SHOP. REFUNDING A SERVICE CONTRACT THAT WE PAID FOR TO COVER REPAIR WORK IS NOT AN ACCEPTABLE RESOLUTOIN ND WE PLAN ON HOLDING YOU LIABLE FOR EVERYDAY WE HAVE NOT BEEN GIVEN A REFUND FOR THE DURATION FOR THE TIMEFRAME WE HAVE BEEN WAITING PATIENTLY. ONE LIE AFTER ANOTHER ONE EXCUSE AFTER ANOTHER FOR REFUSING TO REFUND THE ENTIRE LOAN THEN AFTER ALMOST 2 YEARS THE REALIZE HOW MANY LAWES HAVE BEEN BROKEN IN THE DENIAL OF US OF SERVICE CONTRACT SO THEY CPONTINUE TO LIE. THIS IS NOT A DUPLIACTE COMPTAINT
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: MI
Zip: 48371
Submitted Via: Web
Date Sent: 2023-10-20
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A