Date Received: 2023-09-24
Issue: Getting a loan or lease
Subissue: Confusing or misleading advertising or marketing
Consumer Complaint: I recieved a loan from Credit Acceptance bank, for a used XXXX XXXX XXXX. When I went to the dealership which was XXXX XXXX I tried choosing the car that was best for me and instead they rushed me into getting a car I didnt want. I was putting a down payment of XXXX, and instead they came back to me and said the bank required me to put down more, so I ended up putting down XXXX. They never went over the terms and everything for the car, they told me the bank said I could only get that specific car, I really feel like the bank got over on me. In XXXX, XXXX, they repossessed my car and I was able to pay to get it back, when I did get it back the car was damaged, I notified the bank and they said that they would reach out to the auction company to see what happened, basically they damaged the car then gave it back, and I was held reliable for the repairs. The bank has put me through a lot and I dont feel I should go through this anymore.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: NY
Zip: 10466
Submitted Via: Web
Date Sent: 2023-09-24
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-09-25
Issue: Incorrect information on your report
Subissue: Account status incorrect
Consumer Complaint: In XX/XX/XXXX XXXX Credit Acceptance and I negotiated an verbal contract to settle in full to my auto loan in the amount of XXXXCredit Acceptance had giving me a time frame to release the funds no later then XXXX XXXX XXXX XXXX.Credit Acceptance received the amount in full as agreed on XX/XX/, which the account should have been closed and as in good faith standing. then I went to two different auto dealers to get an auto loan and both dealership informed me that no lender accept me for an auto loan, due to Credit Acceptance reported on my credit reported Negative and derogatory remarks which includes an I9 ( charge off, repo ), and the I4 rating ( late payments ). My account was settled in full and not a charge off./repo.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: MI
Zip: 484XX
Submitted Via: Web
Date Sent: 2023-09-25
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-09-24
Issue: Improper use of your report
Subissue: Credit inquiries on your report that you don't recognize
Consumer Complaint: Credit Report Inquiry made by this unknown company without my knowledge nor consent.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: NY
Zip: 122XX
Submitted Via: Web
Date Sent: 2023-09-28
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-09-24
Issue: Managing the loan or lease
Subissue: Problem with the interest rate
Consumer Complaint: After spending hours at a local dealership, I found out only one 'bank ' would approve me for a car loan. The payments for a 2018 vehicle costing {$14000.00} on the lot ended up being {$430.00} with {$1000.00} down. The 'bank ' was Credit Acceptance , when reading the paperwork it was brought to my knowledge the interest rate was 20 %- the HIGHEST interest rate I have ever seen for a vehicle. I understand my credit is POOR-FAIR and fluctuates every couple of months but this interest rate appeared criminal. The overall cost for this vehicle at the end of the loan is {$10000.00} more than the initial purchase price. After purchasing the vehicle, as I NEED a vehicle, I read the online reviews and found this company has been in several class action lawsuits for illegal interest rates and unfairly conning lower-income individuals and those with less than perfect credit. I feel ashamed and embarrassed for not doing my research on Michigan interest laws and what is legal and accepted practices. I want the interest rate lowered to Michigan law standards or else I will have to pursue legal correction on this matter.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: MI
Zip: 487XX
Submitted Via: Web
Date Sent: 2023-09-24
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-09-22
Issue: Struggling to pay your loan
Subissue: Denied request to lower payments
Consumer Complaint: I bought a car from a dealer at age XXXX for XXXX, my credit is bad and I couldnt afford monthly payment but I was approved. The car has literally drove me into debt. I got my car repossessed multiple time. I feel like I was set up to fail and never pay it off. I got a loan the car XX/XX/2021. Put down a XXXX Im a not at {$24000.00} in debt that started from a used {$13000.00} car
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: MD
Zip: 20735
Submitted Via: Web
Date Sent: 2023-09-22
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-09-21
Issue: Incorrect information on your report
Subissue: Account status incorrect
Consumer Complaint: XXXX is reporting XXXX account incorrect. The credit acceptance account is not my account and she be removed asap. The other account which is XXXX XXXX she be reporting charge off. They have already repossessed car and sold it.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: GA
Zip: 30344
Submitted Via: Web
Date Sent: 2023-09-21
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-09-21
Issue: Managing the loan or lease
Subissue: Billing problem
Consumer Complaint: providing false Infromation to the DIFS, AG, and other government entities pertaining to my claim. Supporting false information pertaining to my complaints.
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: 2023-09-21
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-09-21
Issue: Managing the loan or lease
Subissue: Problem with the interest rate
Consumer Complaint: I bought my car in XX/XX/2023 with a high interest rate of over 25 %. Credit acceptance is getting sued for high interest rates. This rate is very high.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: NY
Zip: 144XX
Submitted Via: Web
Date Sent: 2023-09-21
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-09-21
Issue: Managing the loan or lease
Subissue: Billing problem
Consumer Complaint: Credit Acceptance ( Lender ) FAILED TO PROPERLY APPLY PAYMENTS MADE ON LOAN made by BORROWER and changed loan agreement to apply payments on account as interest bearing rather than on the balance as BORROWER signed too! Lender DEMONSTRATES BAD BUSINESS PRACTICES and fraudulent credit reporting attempting to obstruct borrower from paying loan off early. LENDER CHANGED the loan agreement after BORROWER cancelled the two contracts lender insisted it buy. The balance should've been {$14000.00} on XX/XX/XXXX, with payments deducted from the balance, all payments made to date have been paid in INTEREST BEARING only, unbeknownst to borrower until yesterday XX/XX/XXXX. This is predatory lending and fraudulent bad business practices.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: NJ
Zip: 07050
Submitted Via: Web
Date Sent: 2023-09-25
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-09-22
Issue: Took or threatened to take negative or legal action
Subissue: Threatened to sue you for very old debt
Consumer Complaint: On XX/XX/XXXX I received a call that went to voicemail saying : This is an urgent message intended for my name is XXXX contacting you in regards to a complaint scheduled to be filed out of XXXX XXXX if you will not be available receive and sign for documents or if you are unaware of anything pending, it is urgent that you contact us back, at XXXX with reference number, requires immediate attention or we will be forced to move forward without her participation. I called back and they said they are calling on behalf of a creditor for a previous car loan back in XXXX. Saying I owe {$6400.00} I ask them for what vehicle because I did not have a vehicle solely in my name for 12 plus years and since been divorced from my ex husband. They said they will not give me the year make and model of he vehicle so I can be sure that the account or money owed is actually my debt and to get this information I would have to subpoena them for validation of debt and by that time I would already be sued by them and they will add an addition {$1500.00} in court because they rather get extra money than to give me all the info over the phone to prove to me that the debt belongs to me. I am unfamiliar with any of this information they provided. They claim they sent a letter I never received and now they are forced to move forward with suing me. I asked them for some type of documentation to understand what was going on but they only agreed to send me and email with a document. I asked them how long I have to respond and they gave me 48 hrs. I received the email but there is no address. I called back to get the address and the address they gave me doesn't contain any information regarding their name XXXX XXXX XXXX XXXX. I tried to reverse lookup the number and im only getting a website saying other people were called with the same issue by this number. Also, when I called the number there is no name or anything just a generic the person you have called is unavailable please leave a message. I called back and then got a guy who wouldn't tell me what all this was about. I call back again Then I got a girl named XXXX XXXX who says she has an assistant named XXXX XXXX who sent me the email. I voiced I was concerned that this was a scam and that I would like to make sure that the debt belongs to me. And she said the email was all they could send, and only when I'm sued and summoned to court will I get all of the information regarding the debt. Also Im concerned because I live in XXXX and any debts I have is only from my previous residency in XXXX.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: GA
Zip: XXXXX
Submitted Via: Web
Date Sent: 2023-09-27
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A