Date Received: 2023-04-14
Issue: Struggling to pay your loan
Subissue: Loan balance remaining after the vehicle is repossessed and sold
Consumer Complaint: I was having a hard time making my payments on my car after COVID-19 started. I worked at XXXX XXXX at the time. My hours at work got reduced from 40 hours a week to 15-20 hours a week depending on the amount of work that was needing to be done. I contacted Credit Acceptance Corp. and asked if I could defer my payments until my work hours picked back up. I was informed that I should not have bought a vehicle that I could not pay the loan on. I am aware that no one could have predicted that COVID-19 was going to happen or that my hours at work would be cut in half. I tried to explain to the guy I talked to on the phone that my hours were only going to be like this for a few weeks, maybe a month. The guy informed me that I could pay the payment late, but that there would be a late charge and he would not be responsible if my car got repossessed. I got behind in my payments, because my hours at work were cut in half for over a month and a half. I once again contacted Credit Acceptance Corp. I asked if there was a way to refinance my loan and see if my payments would go down so I could afford to keep my vehicle. I was told that they would not refinance my loan and that that was something that their company did not do. I tried refinancing my loan through several different loan companies as well to see if maybe I could switch companies and have someone easier to work with. No lender that I contacted would touch my loan or refinance me, because my loan was through Credit Acceptance Corp. In XXXX of XXXX my grandmother passed away. I was her POA and had to take time off of work to deal with legal things for her and plan her funeral. I then got even further behind on my loan since I had to take time off work for her funeral and planning and legal things pertaining to her passing. I tried in XXXX of XXXX to trade my vehicle in on a different vehicle. I was informed by the dealership that I could not trade my vehicle in, because of it having a loan through Credit Acceptance Corp. I then gave up on trying to pay for the vehicle and called Credit Acceptance Corp. I asked again if they would work with me on my late payments. I was told no and that they were going to repossess my car. I informed them the address and time the car would be parked at my house for them to come and take it. I voluntarily chose to surrender my car for repossession. I was given no other choice at that time. I am now being sued by XXXX XXXX XXXX for not paying off my loan. They sold the vehicle at auction and did not get close to the loan pay off price of the vehicle. They are now telling me that I have to pay the remaining balance on the loan, which I feel is wrong. It was never my intention to default on my loan and have to give my car up for repossession. I was not in control of my hours being cut at work and COVID-19 happening and changing my financial situation.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: IN
Zip: 47203
Submitted Via: Web
Date Sent: 2023-04-14
Company Response to Consumer: Closed with non-monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-04-14
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 filed a dispute with XXXX about an account with credit acceptance whom violated my rights. XXXX done the investigation and said that it was true and accurate. However, I disagree on there investigation. please see all of factual documentation in enclose including the letter to credit acceptance letter as well all XXXX credit bureau with all the federal laws that they had violated
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: 2023-04-14
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-04-14
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: Credit acceptance is still reporting repossessions past the 7 year statute of limitations.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: MI
Zip: 48141
Submitted Via: Web
Date Sent: 2023-04-14
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-04-14
Issue: Managing the loan or lease
Subissue: Problem with the interest rate
Consumer Complaint: Credit Acceptance Corporation is a vehicle loan company. They were just sued by New York for overcharging clients on interest rates. How do I file a lawsuit on the company from Illinois? I called to get my principal balance and I was told my interest rate fluctuates monthly even though I have a fixed monthly payment. Every month my interest increases. This is unacceptable.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: IL
Zip: 60637
Submitted Via: Web
Date Sent: 2023-04-14
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-04-14
Issue: Struggling to pay your loan
Subissue: Lender trying to repossess or disable the vehicle
Consumer Complaint: Since I miss a payment Im not able to trade in my car or get a lower payment. I tried to trade the car in numerous time at XXXX XXXX. This car loan has drop my credit tremendously. Please help me!!
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: TX
Zip: 777XX
Submitted Via: Web
Date Sent: 2023-04-14
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-04-15
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 U.S.C 1681 section 602 A. States I have the right to privacy. 15 U.S.C 1681 Section 604 A Section 2 : It also states a consumer reporting agency can not furnish a account without my written instructions 15 U.S.C 1666B : A creditor may not treat a payment on a account under an open end consumer credit plan as late for any purpose... The dates are as follows XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: PA
Zip: 19144
Submitted Via: Web
Date Sent: 2023-04-15
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-04-14
Issue: Managing the loan or lease
Subissue: Billing problem
Consumer Complaint: I was sick with XXXX and called loan company billing department left several messages telling them I was in hospital with XXXX. i than spoke with rep who told me to pay as soon as I can and a note would be added to my account and I would not get a 30 day late on my credit reporting. I was hit with a 30 late anyway. I then spoke with a rep and was told to remove the 30 day late would be reporting false. please help me with this issue I had XXXX payment and this has dropped my score over 40 points
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: NY
Zip: 10940
Submitted Via: Web
Date Sent: 2023-04-14
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-04-12
Issue: Managing the loan or lease
Subissue: Billing problem
Consumer Complaint: I got a loan with credit acceptance in XXXX to buy a car. Couldn't make the payments was XXXX and had two other kids. They repossessed my car. A year later sued me never received a notice to go to court but the judgment was filed against me. They sold the car and said I still had to pay XXXX. They was garnishing my checks but stop because I switched jobs. Now I'm stuck with a XXXX balance and it's on my credit report. I know this company over charge people like me. I just need to see what you guys can do to help me.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: AR
Zip: 716XX
Submitted Via: Web
Date Sent: 2023-04-12
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-04-12
Issue: Managing the loan or lease
Subissue: Problem with the interest rate
Consumer Complaint: I went to a used car dealership XXXX XXXX XXXX in XXXX. The dealer XXXX XXXX, who went by XXXX, ran my credit which at the time was reporting in the very high 600s to the low 700s on multiple credit checks. I was told I had no auto loan score and that the only place that would accept me is credit acceptance. I received one of the highest apr rates, 22.99 % for a used car which gave me a XXXX interest rate. I called the company multiple times trying to understand how they came across the numbers but all I was told was that I had to speak to the dealer and when I did I was reverted back to credit acceptance. I was told Id be financing XXXX and was sat in front of a computer and told to type in initials wherever directed. I was told I needed to hurry so the loan could process and me being a first time dealership lease user I trusted the process. I legally did not sign any documents my initials were electronically typed in. I did not see anything about an apr rate nor was I told one in fact I had to ask for my paperwork due to the fact the dealer did not juts willingly give it to me and that is how I learned about the XXXX interest on my XXXX loan. When I called to ask if I could pay extra to my loan to try to decrease it I was told by the customer service that I could not pay extra to my loan itself u had to pay for both the loan and the interest. I also called to see if I could refinance with credit acceptance and of course they refused. I have had the car a little under 6 months and it has transmission problems and is out of commission. They will not negotiate my price nor take the vehicle back and relinquish my debt so I am out of a vehicle and my recently decent credit score will now be completely destroyed. I have been paying {$370.00} a month on time since XXXX. My outstanding balance was XXXX and not is at about XXXX. After reviewing the XXXX XXXX XXXX the car was only valued at about XXXX depending on the mileage which when leased was at XXXX. This dealer has had very many complaints as well as this company.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: VA
Zip: 23860
Submitted Via: Web
Date Sent: 2023-04-12
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-04-12
Issue: Problems at the end of the loan or lease
Subissue: Problem while selling or giving up the vehicle
Consumer Complaint: to fix it where i should not have to pay for a factory affect
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: MI
Zip: 48237
Submitted Via: Web
Date Sent: 2023-05-12
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A