Date Received: 2024-02-22
Issue: Managing the loan or lease
Subissue: Billing problem
Consumer Complaint: Subject : Complaint Against Credit Acceptance Corporation for Violating Security Interest Agreement and Billing Error Dear Consumer Financial Protection Bureau ( CFPB ), I am writing to file a formal complaint against Credit Acceptance Corporation regarding their failure to honor a security interest letter and address a billing error in relation to my account. Despite my repeated attempts to resolve these issues directly with the company, Credit Acceptance Corporation has failed to acknowledge or rectify the situation, which has caused me significant financial harm and distress. Here are the details of the situation : 1. Security Interest Agreement : - I provided Credit Acceptance Corporation with a security interest letter outlining my rights and interests in the assets and personal property held by the company. This letter was notarized and sent to them via registered mail. - I also submitted a Certificate of Indebtedness as per the terms of our agreement, along with a filed 1099 A, which Credit Acceptance Corporation has failed to honor. 2. Billing Error : - I notified Credit Acceptance Corporation of a billing error in accordance with the law, giving them 30 days to correct the issue. However, the company has not acknowledged or addressed this billing error. - The company 's failure to credit my account as per the Certificate of Indebtedness security has resulted in financial discrepancies that remain unresolved. 3. False Advertising and Loan Selling : - Credit Acceptance Corporation falsely advertises that they pay all note holders promptly upon receiving funds in the trust and settling fees. However, this has not been my experience. - The company has also sold the loan without my consent or proper notification, further complicating the situation. 4. Legal Recourse : - I am aware of my rights under the law, including the right of rescission ( 1026.23 ) and billing error resolution ( 1026.13 ). I demand that Credit Acceptance Corporation honors the terms of our agreement and resolves the billing error promptly. - I also assert my right to take back the security interest and any proceeds provided to them as part of the contract, as permitted by law. I believe that Credit Acceptance Corporation 's actions constitute a violation of consumer rights and financial regulations. I request that the CFPB investigate this matter promptly and take appropriate action to ensure that Credit Acceptance Corporation fulfills its obligations and addresses the concerns raised in this complaint. Thank you for your attention to this matter. I look forward to your prompt response and assistance in resolving this issue.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: IN
Zip: 46234
Submitted Via: Web
Date Sent: 2024-02-22
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2024-02-23
Issue: Problem with a company's investigation into an existing problem
Subissue: Their investigation did not fix an error on your report
Consumer Complaint: I want the account removed from my reports at the XXXX credit agencies within 72 hours of this complaint. I will also be obtaining a loan audit report done on all my accounts with this company by a XXXX registered CPA to uncover the misconduct of these loans and selling on the secondary market without my knowledge. I also know that these were sold to another company and I did not agree to have my private information given to another company. I want the account removed as I will be getting an audit done if not removed within 72 hours from all XXXX credit agencies. Account # XXXX
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: TX
Zip: 78613
Submitted Via: Web
Date Sent: 2024-02-23
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2024-02-21
Issue: Incorrect information on your report
Subissue: Account status incorrect
Consumer Complaint: cease and desist contract was fraudulent the dealership collect down payment they have closed down sense the pandemic financial company credit acceptance still harassing me reporting inaccurate information on my credit profile for 7 yrs 11 months
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: IL
Zip: 618XX
Submitted Via: Web
Date Sent: 2024-02-21
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2024-02-22
Issue: Repossession
Subissue: Loan balance remaining after the vehicle is repossessed and sold
Consumer Complaint: Credit acceptance is trying to sue me for a car that was repossessed. Charging me {$22000.00} when the vechile isnt even worth that much
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: NY
Zip: 11722
Submitted Via: Web
Date Sent: 2024-02-22
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2024-02-22
Issue: Written notification about debt
Subissue: Didn't receive notice of right to dispute
Consumer Complaint: To : Credit acceptance CORP Account # XXXX Dear Credit acceptance CORP This letter is to formally dispute the debt you are attempting to collect from me and your subsequent inclusion of this disputed debt on my credit report. I am writing to you specifically concerning your actions in violation of the Fair Debt Collection Practices Act ( FDCPA ) and the Fair Credit Reporting Act ( FCRA ), including : 12 C.F.R. 1006.34 ( b ) ( 5 ) : This regulation requires you to send a validation notice within XXXX days of initial communication concerning the alleged debt. I have not received such a notice. 12 C.F.R. 1006.34 ( c ) ( 4 ) ( i ) ( ii ) : What you claim the debt is valid based on? However, I dispute this claim for the following reasons : Not my Account. 12 C.F.R. 1006.34 ( g ) and 15 U.S.C. 1681-1687 : By placing this disputed debt on my credit report before providing a proper validation notice and verifying its accuracy, you have violated both the FDCPA and the FCRA. Additionally, your claim that you have " no authority to furnish any account to a consumer report agency required by law '' is misleading and misrepresents your actions. Therefore, I demand the following immediate actions : Cease all collection efforts related to this disputed debt. Remove the debt from my credit report with credit bureau ( XXXX ). Provide written confirmation of both actions within XXXX days of receiving this letter. Please be aware that if you fail to comply with my demands, I will be forced to pursue further legal action against you, which may include reporting your violations to the Consumer Financial Protection Bureau ( CFPB ) and/or filing a lawsuit in civil court. Sincerely, XXXX XXXX
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: 2024-02-22
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2024-02-21
Issue: Managing the loan or lease
Subissue: Billing problem
Consumer Complaint: Credit Acceptance Corporation 's ongoing violations and non-compliance with regulatory laws in the United States, as per XXXX XXXX XXXX point to potential breaches of federal law, specifically related to civil rights violations. Section XXXX makes it illegal for anyone acting under state authority to willfully deprive a person of a right or privilege protected by the XXXX or laws of the United States. In the context of Credit Acceptance Corporation, these violations could include discriminatory practices, unfair treatment of consumers, or actions that deprive individuals of their legal rights under federal laws governing consumer protection. Such conduct may be subject to federal investigation and legal action to ensure compliance with civil rights protections and consumer rights laws in the United States.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: OH
Zip: 44146
Submitted Via: Web
Date Sent: 2024-02-21
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2024-02-21
Issue: Managing the loan or lease
Subissue: Problem with additional products or services purchased with the loan
Consumer Complaint: Credit Accpetance some years ago around XXXX kept an insurance check that was made out to me and them, they told me to send the check to them and they would issue me a check from them for the insurance check amount with just my name on it. They told me to sign the check and send it to them, so I did. After some weeks I was calling about the check because I used the first check to repair part of the damages from my truck being stolen, the 2nd check was to finish the work that needed to be done - and get my payments current since I was delinquent at the time. I got a woman on the phone after some time and she told me the check was lost and they never got it- so I called XXXX to check on the status of the check and they told me it had already been cashed. So I called credit acceptance again to relay the information to them- for them to tell me that they cashed the check and applied it to the end of my loan and I would not be getting a check sent out to me as I was told - angry about being mislead and being strong armed about my delinquent status I asked why there was no payment posted or available for me to see that it was applied to my account anywhere and I was told it doesnt work that way. So I said okay since it not posted to the account yet, lets just apply it to my delinquent amount and use the rest to pay the future payments and I should be ahead on payments by a few months for a while, I was told again thats not how it works. So I said I no longer want the vehicle and someone could come pick it up because I wasnt going to pay a company that stole my insurance check and lost the funds and is refusing to work out a solution with me- to be told that was not an option and to look now in 2024 on my credit that I still owe 100 % of the loan.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: TX
Zip: 78154
Submitted Via: Web
Date Sent: 2024-02-21
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2024-02-20
Issue: Repossession
Subissue: Account reinstatement or redemption after repossession
Consumer Complaint: Several of my rights have been violated with credit acceptance. I have found several violations within the contract as well as fraudulent activities.
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: 2024-02-20
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2024-02-21
Issue: Problem with a company's investigation into an existing problem
Subissue: Their investigation did not fix an error on your report
Consumer Complaint: I RECENTLY PULLED THE Y REPORT AND STILL SEE THIS LATE PAYMENT APPEARING THAT WAS ALREADY DISPUTED BEFORE CREDITACPT XXXX. I WAS NEVER LATE. I ALWAYS MAKE SURE THAT I MAKE PAYMENTS ON TIME. I DEMAND THIS ACCOUNT TO BE UPDATED AND REMOVE THE LATE PAYMENT TAGGING AS SOON AS POSSIBLE AS YOU ARE VIOLATING MY RIGHTS Under 15 USC 1666B this is a billing error always paid as agreed on time this is an error this account in violation. I AM REQUESTING PROOF THAT YOU CLAIM THAT I WAS LATE CAUSE I MAKE SURE THAT I ALWAYS MAKE PAYMENTS ON TIME.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: MS
Zip: 392XX
Submitted Via: Web
Date Sent: 2024-02-21
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2024-02-20
Issue: Managing the loan or lease
Subissue: Loan sold or transferred to another company
Consumer Complaint: Bought a XXXX XXXX XXXX. Had some car lot. Then it was XXXX XXXX. Then went to credit acceptance. All kinds of hidden fees. Start of loan was XXXX. Which was way over priced. The explorer needs alignment. Had braking issues and now check engine light on. Believe the wheel bearings need replaced as well as some bushing to under carriage and some suspension issues. XXXX is what they offer for it. Owe XXXX. And then haven't seen any interest prices. Hidden fees. Junk automobiles. Need help or I'm screwed if I give back it will ruin my credit. And all this mess for XXXX bucks a month. For 7 Years. Need help. Have had it since XXXX. 3 months and still needs alignment. Feels like if I was to jerk the wheel the front end would flip the vehicle. Any thing. Advice XXXX or phone number to someone who can help.. This is why everyone broke. It's dirty and a bad way to run a business.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: WV
Zip: 26301
Submitted Via: Web
Date Sent: 2024-02-20
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A