Date Received: 2023-08-08
Issue: Managing the loan or lease
Subissue: Billing problem
Consumer Complaint: I purchased a vehicle for what I thought was XXXX financed through credit acceptance corporation. However I did not know that my interest rate was XXXX percent which made the total purchase amount around XXXX. I purchased a XXXX XXXX XXXX used with around XXXX miles. I had to request a copy of my vehicle agreement because I didnt understand how I was paying XXXX a month for 72 months in XXXX which they never sent me the documents from the beginning. XX/XX/XXXX my vehicle was totaled. I had XXXX coverage through the lender. The other young lady insurer paid around XXXX and XXXX picked up the rest of the original loan amount before the interest rate of XXXX percent. However XXXX acceptance has been reporting missed payments and a open loan status for this vehicle ( XXXX XXXX ) and another vehicle ( XXXX XXXX ) that they also financed me for in XXXX that was also totaled and the insurance company paid off. This company has blocked my access to the account history because I contacted my state attorney general here in North Carolina about how they were doing fraudulent acts and keeping me from obtaining credit or even housing because of those false claims on my credit.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: NC
Zip: 28216
Submitted Via: Web
Date Sent: 2023-08-08
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-08-09
Issue: Incorrect information on your report
Subissue: Information belongs to someone else
Consumer Complaint: Information reported on my credit card report is not accurate. I have been XXXX for the past 8 years
Company Response:
State: MI
Zip: 48504
Submitted Via: Web
Date Sent: 2023-08-09
Company Response to Consumer: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-08-08
Issue: Struggling to pay your loan
Subissue: Loan balance remaining after the vehicle is repossessed and sold
Consumer Complaint: CREDIT ACCEPTANCE CORP Account # XXXX I have concerns in regards to what you are reporting on my credit report. This account is reporting with 2 different amounts of high credit. The account paid in XXXX from XXXX XXXX XXXX due to a total loss. Upon reviewing my credit report. The company Credit Acceptance continues to report the account as open with monthly late payments as of XX/XX/XXXX for a car that has been totaled loss and not in my possession since XXXX. According to the Fair Credit Reporting Act, Section 611 ( 5 ) ( A ) of the FCRA- you are required to promptly DELETE all information that is inaccurate, incomplete, or which can not be verified. Also, the company is being sued by the attorney general for predatory lending. This lender hid the true cost of loans subjecting car borrowers to several financial distress and aggressive debt collection.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: FL
Zip: 321XX
Submitted Via: Web
Date Sent: 2023-08-08
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-08-06
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: I inaccurately reporting my information not properly responding with full evidence of the investigation as requested breaking multiple laws in which I want to be compensated for if all inaccurate information isnt removed and they must show full step by step verification of the investigation that takes My full legal name is [ XXXX XXXX ]. My Social Security Number is [ XXXX ]. My date of birth is [ XX/XX/1978 ]. I am an individual and consumer as defined under 15 U.S.C. 1681a ( c ). This letter is a dispute of the completeness and/or accuracy of an item of information contained in the consumer file that you maintain about me, pursuant to the provisions of 15 U.S.C. 1681i. The item of information below that you maintain in a consumer file about me and publish to third parties is inaccurate and/or incomplete and I request that you promptly delete it from the file : [ Credit Acceptance Account XXXX Pursuant to 15 U.S.C. 1681g ( a ), I request that you mail me a copy of the complete consumer file that you maintain concerning me after you act on this dispute. Note, the term file... means all of the information on [ me ] and retained by [ you ] regardless of how the information is stored. 15 U.S.C. 1681a ( g ). Therefore, it is unlawful to send me a partial disclosure and not the entire file. If you verify or deem the item of information that I disputed above as accurate and complete, then I request a description of the procedure used to determine the accuracy or completeness of the information... including the business name and address of any furnisher contacted in connection with such information and the telephone number of such furnisher, pursuant to the provisions of 15 U.S.C. 1681i ( a ) ( 6 ) ( B ) ( iii ), in no later than fifteen ( 15 ) days after making such determination. See 15 U.S.C. 1681i ( a ) ( 7 ). I have enclosed proof of my identity and current mailing address. Please be advised, this dispute letter contains sufficient information for you to legally act on it. Any delay tactics or needless requests for information will not avoid your legal obligations to me. If you fail to comply, I will seek damages, costs, and attorneys fees. See 15 U.S.C. 1681n-o. Sincerely, XXXX XXXX
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: 2023-08-06
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-08-06
Issue: Improper use of your report
Subissue: Reporting company used your report improperly
Consumer Complaint: In accordance with the fair credit Reporting act XXXX XXXX XXXX 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 c 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: TN
Zip: 38104
Submitted Via: Web
Date Sent: 2023-08-06
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-08-06
Issue: Managing the loan or lease
Subissue: Loan sold or transferred to another company
Consumer Complaint: On XX/XX/2023, I purchased a used car from XXXX XXXX XXXX XXXX in XXXX, NJ. As part of the purchase, I applied for and was approved for financing through Credit Acceptance. The car was advertised for sale at {$10000.00}, and despite the car having several CEL codes, I agreed to the price. During the signing of the loan agreement, the dealer stated they needed to add on {$860.00} of charges " in order to meet minimum loan balance requirement for loan eligibility ''. The charges were included on the sales agreement as " Accessories '' and consisted of itemized charges for floor mats, trailer hitch and wheel locks. None of these accessories were actually included with the car on purchase. A day after the purchase, the lender, Credit Acceptance called me to inquire about the Accessories listed on the purchase, wanting to confirm that those items were not fictitious. I informed them that the items were in fact fictitious, and were added by the dealer to meet the loan requirements for minimum balance. The lender apologized for the issue, and opened up an investigation on the dealer to get those funds refunded from my loan balance. On XX/XX/XXXX, XXXX and XXXX, the dealer contacted me by phone and then by text messages. They were somehow alerted of the complaint that was filed by the lender, and were extremely hostile and aggressive in their communication with me. They flat out demanded that I cancel the complaint with the lender, or else they would cancel the loan and repossess the car ( I have the phone screenshots showing these text messages ). I refused to cancel my complaint and demanded they stop contacting me because I had already bought the car and put a down payment on it, and had an active loan on the car with the lender. Several days later, I received an email notification from my lender, stating that my auto payments had been cancelled. A week later, the lender sent me a letter in the mail indicating they had " reassigned my loan back to the dealership, XXXX XXXX XXXX XXXX. '' Both the cancellation of my auto payments and the cancellation / reassignment of my loan from the lender back to the dealer were all done without my authorization. Right before I received the letter from the lender, the dealer again contacted me saying they had cancelled the loan, and demanded I return the car or else they would repossess it and would assess me more fees. I called the lender at the same time and demanded they undo the cancellation because I did not authorize it, and the lender refused to comply and stated that the dealer has the right to cancel loans in certain circumstances and refused to provide any further details A day later, I contacted an attorney, explained my situation, and the attorney sent a demand letter to the dealer demanding they stop contacting me, and cease any and all cancellations and unauthorized modifications to my loan contract, and also demanded a full refund of the {$860.00} of fictitious and fraudulent charges. My attorney also sent a demand letter to my lender, notifying the lender that they had violated privacy law by sharing personal information about the complaint with the dealer which resulted in the dealer taking retaliatory action against the customer. The letter also demanded that they undo the cancellation of my loan, reinstate my loan, remove any unauthorized parties other than myself from the loan contract, re-initiate any scheduled auto payments, and to not allow the dealer to make any further unauthorized changes to my loan agreement. I have not heard back from the lender, and it is now 1 month later. I want to keep the car, get my loan reinstated, and avoid any illegal repossession of my car. I need help getting this situation resolved as soon as possible and would like to avoid any costly legal fees that I would need to incur by taking either the dealer and/or the lender to court.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: NJ
Zip: 07083
Submitted Via: Web
Date Sent: 2023-08-06
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-08-04
Issue: Problems at the end of the loan or lease
Subissue: Problem with paying off the loan
Consumer Complaint: In XXXX I opened a loan with XXXXedit Acceptance, I was told by the car lot that because of my credit position that this was my only option and that after a year of payments, I could come back and they would refinance my loan. The car lot was extremely pushy and after reading some of the articles about how Credit acceptance operates, I am willing to believe that the car dealership received some money from credit acceptance from my signing up with them. But because I was in a situation where I desperately needed a vehicle, I went ahead and agreed to the loan. I purchased the car for {$14000.00} with an APR of XXXX %. Although the amount was too high for my income, I went ahead and stressfully made payments. In XXXX I lost my job because of COVID and fell behind in payments. Credit Acceptance eventually came out with a statement and said that since we were in a global pandemic they would waive the late fees and be willing to make payment arrangements. I was not in a predicament to make payments but I settled on {$100.00} a week because I was fearful of having my vehicle repossessed. The total payment arrangement was {$400.00} a month when my actual car note was supposed to be {$390.00}. So even then it was more than the payment amount. They began to harass me and call all of the time saying that my vehicle was in danger of being repossessed unless I increased the payments. So I went up to {$120.00} a week which was {$500.00} a month that I really didnt have at all but again was fearful that they would repossess my car. I had to call them back and we eventually settled on a payment of {$200.00} twice a month. Ive been faithfully making payments to them every month, but they are still reporting my account as derogatory and past due even though Ive tried to make arrangements and I do make on-time payments. Recently I have requested a payoff amount with them because I am wanting to refinance this loan. The payoff amount was roughly {$8000.00}. I believe that this is completely unacceptable because I have given Credit Acceptance {$19000.00} in payments for a {$14000.00} vehicle. I am filing a complaint with you all because this is a nightmare situation to be in, and I would love to be able to just have the title to the vehicle without paying so much for a payoff.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: OK
Zip: 74105
Submitted Via: Web
Date Sent: 2023-08-04
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-08-04
Issue: Incorrect information on your report
Subissue: Old information reappears or never goes away
Consumer Complaint: I purchased a car and used credit acceptance as the lender. This car was a piece of junk and has never worked. I tried to work something out with the dealer and the lender. The lender gave me some astronomical rate and the car dealership sold me the car with false hopes of a good working car. I knew the rate would be high but they totally took advantage of me. The car has been reporting 120 days late since XXXX of 2019. This is not true. This car is a piece of XXXX that they wouldn't even come get, as it's worth absolutely nothing. The lender or dealer hid a bunch of fees in this loan as well. This account, at this rate, will NEVER disappear from my credit report. I'm not for sure what else to do. I have sent them numerous letters and disputed this with the credit bureaus. Each time they just keep saying the information is accurate, which it is not. They are refusing to make this right. This is affecting me mentally and financially. I can not do anything with this on my credit report. they refuse to send me the info about the car, they refuse to do anything at this point.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: KY
Zip: 41017
Submitted Via: Web
Date Sent: 2023-08-04
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-08-05
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: Per the Privacy Act of 1974 as a federally protected consumer I am now revoking any and all authorization I the consumer may have given you written, non written, verbal, and nonverbal per 5 U.S. Code 552a. Per the FCRA as a federally protected consumer I am now opting out of any and all authorization I the consumer may have given you written, non written, verbal, and non verbal per 15 USC 6802. Credit Acceptance can not collect on a discharged debt. This is now considered a certificate of indebtedness per the IRS and income can not be reported. In Credit Acceptance terms and conditions they agreed not to share my information with non affiliates. XXXX is not an affiliate of Credit Acceptance. The only true credit bureau is the CFPB and they DO NOT furnish consumer reports. Credit Acceptance must refund the remaining balance of the consumer account upon its termination. This is your 7 day notice to reuturn ALL money due from this consumer account. 1026.11 Treatment of credit balances ; account termination. ( a ) Credit balances. When a credit balance in excess of {$1.00} is created on a credit account ( through transmittal of funds to a creditor in excess of the total balance due on an account, through rebates of unearned finance charges or insurance premiums, or through amounts otherwise owed to or held for the benefit of the consumer ), the creditor shall : ( 1 ) Credit the amount of the credit balance to the consumer 's account ; ( 2 ) Refund any part of the remaining credit balance within seven business days from receipt of a written request from the consumer ; ( 3 ) Make a good faith effort to refund to the consumer by cash, check, or money order, or credit to a deposit account of the consumer, any part of the credit balance remaining in the account for more than six months. No further action is required if the consumer 's current location is not known to the creditor and can not be traced through the consumer 's last known address or telephone number. ( b ) Account termination. ( 1 ) A creditor shall not terminate an account prior to its expiration date solely because the consumer does not incur a finance charge. ( 2 ) Nothing in paragraph ( b ) ( 1 ) of this section prohibits a creditor from terminating an account that is inactive for three or more consecutive months. An account is inactive for purposes of this paragraph if no credit has been extended ( such as by purchase, cash advance or balance transfer ) and if the account has no outstanding balance. ( c ) Timely settlement of estate debts ( 1 ) General rule. ( i ) Reasonable policies and procedures required. For credit card accounts under an open-end ( not home-secured ) consumer credit plan, card issuers must adopt reasonable written policies and procedures designed to ensure that an administrator of an estate of a deceased accountholder can determine the amount of and pay any balance on the account in a timely manner. ( ii ) Application to joint accounts. Paragraph ( c ) of this section does not apply to the account of a deceased consumer if a joint accountholder remains on the account. ( 2 ) Timely statement of balance ( i ) Requirement. Upon request by the administrator of an estate, a card issuer must provide the administrator with the amount of the balance on a deceased consumer 's account in a timely manner. ( ii ) Safe harbor. For purposes of paragraph ( c ) ( 2 ) ( i ) of this section, providing the amount of the balance on the account within 30 days of receiving the request is deemed to be timely. ( 3 ) Limitations after receipt of request from administrator ( i ) Limitation on fees and increases in annual percentage rates. After receiving a request from the administrator of an estate for the amount of the balance on a deceased consumer 's account, a card issuer must not impose any fees on the account ( such as a late fee, annual fee, or over-the-limit fee ) or increase any annual percentage rate, except as provided by 1026.55 ( b ) ( 2 ). ( ii ) Limitation on trailing or residual interest. A card issuer must waive or rebate any additional finance charge due to a periodic interest rate if payment in full of the balance disclosed pursuant to paragraph ( c ) ( 2 ) of this section is received within 30 days after disclosure.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: MI
Zip: XXXXX
Submitted Via: Web
Date Sent: 2023-08-05
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-08-04
Issue: Managing the loan or lease
Subissue: Problem with fees charged
Consumer Complaint: Got a repossession couldnt pay my car note. They sold the car and didnt tell me, the deficiency balance is not on my credit report and they are charging me interest for a car they sold
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: AL
Zip: 360XX
Submitted Via: Web
Date Sent: 2023-08-04
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A