ComplaintsforCredit Acceptance Corporation

• Initial Complaint

  03/07/2024

  Complaint Type:

  Billing Issues

  Status:

  Answered

  More info

  credit acceptance has been reporting my payments as late for almost the past year. The original due date on my contract is for the 1st of the moth. But, The way I am paid, I have had to set up payment arrangements with the company for the 29th of each month. Which I have made on or before the 29th each month, as agreed upon by both parties. I have just recently discovered the reports. I found out because it has had such a negative impact on my credit score. I am not 100% sure, but I think that the payment(s) must be at least 30 days late before being reported. If that is the case then nearly all my payments should not have been reported.

  Business response

  03/19/2024

  Dear *********************:
  
  Thank you for reaching out to us and speaking to me about the account information we furnished to the credit bureaus. I hope this letter helps clarify things.
  
  First, enclosed for your reference is the retail installment contract that you entered into with a dealership to purchase your vehicle in October 2021. Under the contract, you agreed to make 39 consecutive monthly payments of $320.85 by the 21st day of each month starting in November 2021. Because you agreed to the terms of your contract before Credit Acceptance accepted its assignment and began servicing your account, we cannot make modifications to the terms. Accordingly, your payment due dates and amounts are fixed and cannot be changed.
  
  Next, on the day you signed the contract, you also signed the enclosed notice to cosigner form. That form put you on notice that we may share your account status with the credit bureausand that late payments, missed payments, or other defaults may show up on your credit report. For credit reporting purposes, an account becomes delinquent when all or part of a standard monthly payment is 30 days or more past due. Your enclosed payment history shows that you did not always make your full monthly payment on time, and that all or part of a monthly payment was, at various times, at least 30 days past due and as many as 90 days or more past due. Your account is now current.Consistent with your account history, as of February 1, 2024, were furnishing your account status to the ********************** bureaus as current. Because we are required to furnish accurate information, and have done so here and historically, no updates are necessary.
  
  Lastly, I understand that youre unhappy with your phone interactions with our team members. We value our customers and want them to have excellent interactions with our team members. I reviewed recordings of your recent conversations and did not find that they treated you inappropriately. Rather, they provided you with accurate information regarding the terms of your contract. I understand you disagreed with the fact that the account had a past due balance and was reported as such on your credit report, which is based on your contractual obligations, but our team members were professional in relaying that information to you.
  
  In sum, my investigation has revealed that we adhered to all relevant authority when servicing your account and that we complied with our obligations as a data furnisher. For that reason, we regret to
  inform you that we are unable to provide the requested relief. If you have other questions regarding this response, please do not hesitate to contact me at **************.
  

  Business response

  03/19/2024

  Dear *********************:
  
  Thank you for reaching out to us and speaking to me about the account information we furnished to the credit bureaus. I hope this letter helps clarify things.
  
  First, enclosed for your reference is the retail installment contract that you entered into with a dealership to purchase your vehicle in October 2021. Under the contract, you agreed to make 39 consecutive monthly payments of $320.85 by the 21st day of each month starting in November 2021. Because you agreed to the terms of your contract before Credit Acceptance accepted its assignment and began servicing your account, we cannot make modifications to the terms. Accordingly, your payment due dates and amounts are fixed and cannot be changed.
  
  Next, on the day you signed the contract, you also signed the enclosed notice to cosigner form. That form put you on notice that we may share your account status with the credit bureausand that late payments, missed payments, or other defaults may show up on your credit report. For credit reporting purposes, an account becomes delinquent when all or part of a standard monthly payment is 30 days or more past due. Your enclosed payment history shows that you did not always make your full monthly payment on time, and that all or part of a monthly payment was, at various times, at least 30 days past due and as many as 90 days or more past due. Your account is now current.Consistent with your account history, as of February 1, 2024, were furnishing your account status to the ********************** bureaus as current. Because we are required to furnish accurate information, and have done so here and historically, no updates are necessary.
  
  Lastly, I understand that youre unhappy with your phone interactions with our team members. We value our customers and want them to have excellent interactions with our team members. I reviewed recordings of your recent conversations and did not find that they treated you inappropriately. Rather, they provided you with accurate information regarding the terms of your contract. I understand you disagreed with the fact that the account had a past due balance and was reported as such on your credit report, which is based on your contractual obligations, but our team members were professional in relaying that information to you.
  
  In sum, my investigation has revealed that we adhered to all relevant authority when servicing your account and that we complied with our obligations as a data furnisher. For that reason, we regret to
  inform you that we are unable to provide the requested relief. If you have other questions regarding this response, please do not hesitate to contact me at **************.
  

  Customer response

  03/29/2024

  [A default letter is provided here which indicates your rejection of the business's response. 
  
  Better Business Bureau,
  
  I have reviewed the response made by the business in reference to complaint ID ********, and have determined that this proposed action would not resolve my complaint.  For your reference, details of why I am rejecting this response appear below:
  
  The reason I rejected the offer, is for a couple of reasons.  First, why has my creditor only just now started to report me as late?  I have been making my payments around the 29 for I think probably ***** months.  Yet they only started reporting it about 7 months ago.  If my payment was not 30 days late why would they feel the need to report it anyways?  They said I signed a paper agreeing to allow them to report my late payments, I was under the idea that it was the law about the 30 day rule.  Maybe I am wrong, I will have to look that up.  So, therefore if my payment wasn't 30 days late then they should remove it from my report. Any payment that is 30 days late, I have no problem with them reporting it.  But, I don't think that they should do so until the 30 day timeframe is past.  Next, to address the response to the conversations and the all out rude demeaner of the two ladies I spoke with on the phone.  Yes, they did give me some of the information I was requesting.  But, it was the really short, unpleasant approach they imposed on me.  Like I was bothering them or they had better things to do besides help  address my concerns about my account.  Especially the second lady I talked to, she wouldn't give me her name or any kind of info about who she was.  Then when I asked to speak with someone above her, she flat out refused to connect me to anyone else.  She was extremely rude and not very friendly at all.  So maybe they should listen to those conversations again.  *****, this time they will see how that is not a good way to represent a company.    
  
  Regards,
  
  *********************

• Initial Complaint

  02/16/2023

  Complaint Type:

  Billing Issues

  Status:

  Answered

  More info

  I am not liable for this debt or any negative charges and comments that Credit Acceptance ** placed on my credit report.I do not have a contract with Credit Acceptance **, the account show closed on the credit report, but Credit Acceptance ** is not removing this closed account off my credit report.I've reached out to them and they have not provided me with any contract, like I requested.

  Business response

  03/02/2023

  Response was sent directly to BBB through email due to file size 

• Initial Complaint

  08/15/2022

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  I purchased a 2013 *********** from a dealership. Well credit acceptance finance the car and the car did not work. I advised the dealership the brakes and rotors were no good on the car. The dealership then told me to take it 2 weeks after I didnt even have the car for a month and the brakes did not work causing me to get in a car accident. The insurance didnt want to help neither did the dealership and neither did the bank I financed though. Being a first time car buyer I have had no help now I cant get my car back because the bank said they would pick it up and now the impound has my car and I wont be able to get my car or money back but I have to pay of a 10k loan. This makes no sense I need help.

  Business response

  08/29/2022

  August 29, 2022
  

  Via BBB Portal

  
  ***********************************************************************************************************************  87112
  
  RE: BBB No. 17720561
  Credit Acceptance Account No. *********
  
  Dear ****************:
  
  Thank you for reaching out to us. I understand you have questions about your account status following a motor vehicle accident. I hope this letter provides clarity.
  
  You bought a Chevrolet Cruze from Economy Auto Sales LLC on July 16, 2022. In your complaint, you said the brakes and rotors were faulty.While Credit Acceptance is not responsible for addressing mechanical defects with a customers vehicle, in certain situations we will assist customers who experience severe problems occurring shortly after purchase which render the vehicle inoperable. When we spoke with the dealership where you bought the vehicle, it denied issues with the brakes and rotors and stated you never brought such concerns to its attention. In order for us to investigate further, please provide us with any documents you have which evidence these issues.
  
  Our records show that your vehicle was in an accident on or about August 5, 2022. When we spoke with you on August 8, you confirmed that you didnt have insurance coverage for your damages because you purchased a liability only policy and the other drivers insurer found you to be at fault for the accident. Our team member said that we would determine whether the vehicle was worth picking up and selling. On August 9, you told us the vehicle had been impounded. The following day, we explained that we were waiting on the impound lot to send us more information about the vehicles condition so we could decide whether it was financially beneficial to you and us to pick it up based on the extent of the damage versus the storage costs. We thereafter determined that retrieving the vehicle would not help either one of us.
  
  As your contract states, and as our team members explained to you, youre responsible to pay what you owe under the contract regardless of whether the vehicle is damaged, destroyed, or missing. As a courtesy to you, we will apply a $500 credit to your account. Please note that while this credit will reduce your overall principal balance, it does not affect your monthly payment obligations. If youd like to discuss settlement or payment options, please give us a call and we will be happy to assist.
  
  It is our sincere hope that we have resolved your concerns. If you need additional assistance, please feel free to call me at **************.

  
  Respectfully,
  

  **************
  **************
  Compliance Analyst
  Regulatory Compliance

• Initial Complaint

  07/11/2022

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  This company is not reporting a 2019 purchase from this company to the three major credit bureaus. Transunion is only reporting 2 payments and I have been paying for 3 years.

  Business response

  08/01/2022

  August 1, 2022
  

  Via BBB Portal
  

  Nadrel ******
  816 ***************
  ************, **  62025
  
  RE: BBB Complaint No. 17551823 
  Credit Acceptance Account No. ********
  
  Dear ****************:
  
  Thank you for your reaching out to us and for speaking with me. I understand that you have questions about the account information we furnished to the three major credit bureaus. I am happy to help.
  
  On March 22, 2019, you entered into a Retail Installment Contract (the Contract) with **************** LLC (the Dealer) to purchase a 2013 Dodge Dart. Under the Contract terms, you agreed to make 66 consecutive monthly payments of $299.17. Credit Acceptance accepted assignment of the Contract from the Dealer and began servicing your account.
  
  My review confirms that we have accurately furnished your account status to the credit bureaus since the inception of your account. Between April 2019 and July 2022, we furnished your account status as current or **** days past the due date.Because you enrolled in our COVID Protected Status, between April 2020 and March 2022 your payment history profile was furnished as a D (no data). The three major credit bureaus are each independent companies which apply their own business rules to the data we provide. These differences may affect how your information appears on each consumer report. To the extent you believe TransUnion is reporting inconsistently with the above, you may wish to reach out to TransUnion directly. For your convenience, Ive included the contact information for all three credit bureaus below:
  
  Equifax: ************** www.equifax.com
  (click the Disputes link under the Credit Report Assistance tab)
  Experian: ************** www.experian.com
  (click the Disputes link under the Credit Support tab)
  TransUnion: ************** www.transunion.com
  (click the Dispute link under the ******************************************* tab)
  
  It is our sincere hope that we have resolved your concerns. If you need additional assistance, please feel free to contact me at ************.
  
  Respectfully,
                                                                                                    
  **************
  Compliance Analyst
  Regulatory Compliance
  

• Initial Complaint

  11/05/2021

  Complaint Type:

  Sales and Advertising Issues

  Status:

  Resolved

  More info

  My husband and I purchased a car on 8/22/20 and Credit Acceptance was the finance company, we made the first payment 9/22/20 and continued to make on time payments through 7/22/21. In July of 2021 we purchased another vehicle and found out at that time that Credit Acceptance had not reported a single one of our payments to the credit bureau, and due to the 22% interest rate they really had us over a barrel on that car. I contacted Credit Acceptance to inquire about the reasoning behind not reporting our payments since they claimed to be a company to help you build your credit, of course no one had an answer as to why they weren't reporting them...I decided then to tell them I no longer was able to pay for the car and wanted to voluntarily surrender the vehicle that the 7/22/21 payment was the last payment that I would be making, the car would be at my address so please send someone to pick it up and I was sure that they wouldn't hesitate to report to the credit bureau that I defaulted on my loan which they did a couple of days after my payments due date. Today 11/5/21 after I made numerous calls the car was finally picked up. Now is there anything that can be done to force Credit Acceptance to report to the credit bureau all of the payments that we made on the car.Thank you ***************************** *******************************

  Business response

  11/19/2021

  November 19, 2021
  
  Via BBB Portal

  
  
  *****************************
  *****************************************
  
  RE: BBB No.16105442
  Credit Acceptance Acct. No. 99968144
  
  Dear ***********************:
  
  Thank you for reaching out to us. I understand you have questions about how we are reporting your account information to the credit bureaus. I have reviewed your account and am happy to share my findings.
  
  On August 22, 2020, you and ********************************** entered into the attached Retail Installment Contract (the Contract) with **************************** (the Dealer) to purchase a 2013 ********** Outlander Sport. I have also attached the (1) Declaration Acknowledging Electronic Signature Process (the Declaration); and (2) Credit Acceptance Corporation Disclosure Form. In signing these documents, you certified that you had the opportunity to review a paper version of the Contract before signing it and that the Contract terms were personally negotiable between you and the Dealer. You agreed to make one $500 payment and 66 consecutive monthly payments of $266.34 on the twenty-second day of each month.
  
  Contrary to your belief, we reported your account to the three major credit bureaus every month. Between September 22, 2020 and August 22, 2021, we reported your account as current.On September 22, 2021, we reported your account as ***** days past the due date because we did not receive any payments in August. On October 22, 2021,we reported your account as ***** days past the due date because we did not receive any payments in August or September. This reporting is accurate and consistent with your attached payment history. As such, no changes or updates are necessary. If you believe the bureaus are not reporting consistent with this information, you may wish to contact them directly. For your convenience, I have included their contact information below:
  
  Equifax: ************** www.equifax.com
  (click the Disputes link under the Credit Report Assistance tab)
  Experian: ************** www.experian.com
  (click the Disputes link under the Credit Support tab)
  TransUnion: ************** www.transunion.com
  (click the Dispute link under the ******************************************* tab)
  
  If you need additional assistance or would like to provide additional information for our consideration, please contact me directly. We thank you for the opportunity to address your concerns.
  
  
  Respectfully Yours,
                                                                                                              
  ***********************
  Compliance Analyst
  Regulatory Compliance

  
  Encl.
  
  cc: Better Business Bureau

  
  

  Customer response

  11/24/2021

  [A default letter is provided here which indicates your acceptance of the business's response.  If you wish, you may update it before sending it.

  Better Business Bureau:

  I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution would be satisfactory to me.  I will wait for the business to perform this action and, if it does, will consider this complaint resolved.

  Regards,

  *****************************

*Some consumers may elect to not publish the details of their complaints, some complaints may not meet BBB's standards for publication, or BBB may display a portion of complaints when a high volume is received for a particular business. ↩