Complaints

The complaint text that is displayed might not represent all complaints filed with BBB. 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.

• Initial Complaint

  Date:10/04/2022

  Type:Billing Issues
  Status:

  ResolvedMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  I checked my credit report and noticed I had a couple late payments between 2021/2022. During this time, I was transitioning between jobs, and going through an economic hardship with COVID which is what caused the issues along with I thought there were extension months added to the loan. As you can see, I made the vast majority of my payments on time before, and after this time period. I am asking in goodwill faith for this one time to please remove these late payments from my account. I am trying to increase my score to qualify for a mortgage and I would greatly appreciate if you guys would forgive the late payments. Im also willing to set up auto payment. Thank you.

  

  Business Response

  Date: 10/05/2022

  This is to serve as a formal response by American Credit
  Acceptance, LLC (“ACA”) to the complaint filed by ******* *****  with the
  BBB case number ********.
  
  ACA has reached out by phone and have been able to speak
  with Mrs. *****.  An investigation of the customer’s account determined
   Mr. ******* ******* ***** and Ms. ****** ******* ***** signed a
  Retail Installment Contract on 3/20/2021 with ******.  The contract was
  assigned to ACA.
  
  ACA appreciates the opportunity to explain how monthly
  payment history is reported to the credit bureaus. ACA reports payment history
  based on current or past due status at the end of each month. An account which
  is 0 to 29 days past due at the end of the month will report as “current.” An
  account which is 30 to 59 days past due at the end of the month will report as
  “30+ late.” An account which is 60 to 89 days past due at the end of the month
  will report as “60+ late.”
  
  Our records indicate the customers’ account ended 30+ days
  late for the following months: 6/2022, 3/2022, 1/2022 and 12/2021.   
  
  As a one-time courtesy, ACA is in agreement to change the
  negative 30+ day late marks to neutral. 
  
  Currently the account is due a partial payment in the amount
  of $791.76 for 10/01/2022.
  
  ACA strives for a positive customer experience.  If the
  customers have any additional questions, they can contact Karen R. at
  864-******** or at ******************@acacceptance.com.
  
  Keith K.
  Customer Experience Manager

  Customer Answer

  Date: 10/07/2022

  I have to say thanks for the fast response  from ACA. I know life could be hard, but when you have support, it make things better. Thanks  to Mrs. KARAN, for reaching out to me.in  a timely  manner.
  
  
  
  Better Business Bureau,
  
  
  
  I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me. 
  
  
  
  Regards,
  
  
  
  ******* *****

• Initial Complaint

  Date:09/29/2022

  Type:Billing Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  I spoke with Catherine and Jose after I was told that my due date would be changed to the 29th of every month. Catherine and Jose then told me that I could not have my due date changed because of my loan having a 6 month extension. You would think that the company would want to accommodate their customers so that payments can be made on time. I only requested the due date change so that it can align with my pay dates but the company will no longer honor that after I was told by TWO representatives it would be honored.

  

  Business Response

  Date: 10/21/2022

   This is to serve as a formal response by American Credit
  Acceptance, LLC (“ACA”) to the complaint filed by ********* ***** with the BBB
  case number ********.
  
  ACA has reached out by phone and have been able to speak
  with Ms. *****.  ACA apologizes for the confusion this situation caused.
   The customers’ account was approved on 9/29/2022 for their due date to be
  changed from 5th to the 29th of the month.
  
  ACA’s call records indicate the agent wasn’t rude or
  unprofessional.
  
  The due date change was initially denied because Ms. *****
  wanted to extend her due date by more days than we allow. We normally allow a
  due date to be moved a maximum of 15 days. However, Ms. ***** wanted her due
  date moved from the 5th of the month to the 29th of the
  month, which is 24 days. We were able to make an exception for the customer and
  move her due date to the 29th. The customers’ payment extensions had
  nothing to do with the initial denial of the due date change.
  
  In regards to interest accruing on the account, Interest
  accrues daily and is based on current principal balance and the contractual
  annual percentage rate (APR) of 28%.  When the payments are posted, any
  accrued interest is paid first, then the remainder of the payment is applied to
  the principal.  Regarding applying payments, ACA applies payments in the
  following allocation order:
  
             
  1.           Repossession
  fees, if any
             
  2.           Interest
  (currently due)
             
  3.           Principal
  (current and past due)
             
  4.           All other fees
  (such as late fees and non-sufficient funds fees (NSF)
             
  5.           Remaining
  principal
  
  We have also attached a copy of ACA’s “Simple Interest FAQ”
  which will further explain how simple interest works.
  
  ACA strives for a positive customer experience.  If the
  customers have any additional questions, the can call  Karen R. at
  ************ or by email at ***********************************.
  
  Keith K.
  Customer Experience Manager     
  
  

• Initial Complaint

  Date:09/26/2022

  Type:Billing Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  I AM NOT FOR THIS DEBT AND I DO NOT HAVE THE CONTRACT WITH AMER CR ACPT
  PLUS THEY DO NOT PROVIDE THE ORIGINAL APPLICATION LIKED I ASKED

  

  Business Response

  Date: 10/19/2022

  This response is to serve as a formal response by American
  Credit Acceptance, LLC (“ACA”) to the complaint filed by ******* ***** with the BBB case number ********.  
  
  ACA has reached out by phone and have been able to speak
  with Ms. *****.  A review of the customers’ account  determined
   ******* ******* ***** and  ****** ******* *****  signed a
  Retail installment Sale Contract (“Contract”) on 6/10/2020 with ******, **** ******** ***** ************* ** ***** for the purchase of a 2014 Chrysler 300 ,
  VIN  ***************** (the “Vehicle”).
  The Contract was assigned to ACA.
  
  ACA appreciates the opportunity to explain how monthly
  payment history is reported to the credit bureaus. ACA reports payment history
  based on current or past due status at the end of each month. An account which
  is 0 to 29 days past due at the end of the month will report as “current.” An
  account which is 30 to 59 days past due at the end of the month will report as
  “30+ late.” An account which is 60 to 89 days past due at the end of the month
  will report as “60+ late.”
  
  Our records indicate the customers are reporting accurately
  to the credit bureaus as ending 30+ days past due for 9/2022.  
  
  2022-09-30  reported 37 days
  2022-08-31 reported 38 days
  2022-07-31 reported 37 days
  2022-05-31 reported 68 days
  2022-04-30,  reported 65 days  
  2022-03-31,  reported 66 days
  2022-02-28,  reported 35 days
  2022-01-31 , reported 68 days  
  2021-12-31,  reported 68 days
  2021-11- 30, reported 37 days
  2021-10-31,reported 37 days    
  2021-09-30, reported 37 days
  2021-07-31, reported 37 days
  2021-06-30, reported 98 days
  2021-05-31, reported 96 days
  2021-04-30, reported 96 days
  2021-03-31, reported 66 days
  2021-02-28, reported 35 days
  2021-01-31, reported 68 days
  2020-12-31, reported 37 days
  2020-09-30, reported 37 days
  
  It is also reporting as a redeemed repossession, which is
  accurate.
  
  The customers’  account is past due for a partial
  payment of $111.00 for August and the regular monthly payment of $511.25 for
  September.  The account has a promise to pay for the partial payment
   of $111.00 on 10/20/2022.   
  
  
  ACA strives for a positive customer experience.  If the
  customers have any additional questions, they can contact Karen R. at
  ************ or at ***********************************.
  
  Keith K.
  Customer Experience Manager
  
  
  

• Initial Complaint

  Date:09/20/2022

  Type:Billing Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  Misleading False Reporting This account is negligently and inaccurately reporting failing to comply to 15 USC 1681.
  AMER CR ACPT
  Account Number: *******
  Please remove it from my credit report.

  

  Business Response

  Date: 10/04/2022

  This is to serve as a formal response by American Credit
  Acceptance, LLC (“ACA”) to the complaint filed by ******** ******* with
  the BBB case number ********.
  
  ACA has reached out by phone and have been unable to speak
  with Ms. *******.  An investigation of the customer’s account determined
  Ms. *******’s account was 67 days past due when the vehicle was repossessed on
  2/22/2022.  The customer paid on 2/24/2022 to redeem her vehicle.
  
  ACA appreciates the opportunity to explain how monthly
  payment history is reported to the credit bureaus. ACA reports payment history
  based on current or past due status at the end of each month. An account which
  is 0 to 29 days past due at the end of the month will report as “current.” An
  account which is 30 to 59 days past due at the end of the month will report as
  “30+ late.” An account which is 60 to 89 days past due at the end of the month
  will report as “60+ late.”
  
  Our records indicate that Ms. *******‘s account is reporting
  accurately to the credit bureaus as ending 30+ days past due on 10/2020,
  6/2021, 7/2021 & 1/2022. All of these months ended 30 to 59 days past due.
   It is also reporting as a redeemed repossession, which is accurate.
  
  As a courtesy, ACA is in agreement to change the negative
  30+ day late marks to neutral. 
  
  ACA strives for a positive customer experience.  If Ms.
  ******* has any additional questions, she can contact Karen R. at ************
  or at ***********************************.
  
  Keith K.
  Customer Experience Manager

• Initial Complaint

  Date:09/15/2022

  Type:Order Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  American credit acceptance violated and repossessed my car after previously making arrangements to make Payments. Each time that I have communicated with American credit acceptance it was by phone never thought to get any kind of documentation showing that I would pay on the 23rd of september. I assume a verbal agreement was enough. My car was repossessed one week before the payment was scheduled to be made and I was scheduled to be put on the assistance program. They stated the agent did not put in a payment date but that's would call back. Which was not the conversation we had which I'm sure is recorded. These are unfair practices they made after a verbal agreement.

  

  Business Response

  Date: 10/17/2022

  This is to serve as a formal response by American Credit
  Acceptance, LLC (“ACA”) to the complaint filed by  ****** ***** with
  the BBB case number ********.
  
  ACA has reached out by phone and have been able to speak
  with Ms. *****.  A review of the customers’ account  determined
  ****** ***** and J**** **** ******* signed a Retail lnstallment Sale Contract
  (“Contract”) with CLERAC, LLC, of Bedford, Ohio for the purchase of a 2019
  ***** *******, VIN ***************** (the “Vehicle”). The Contract was assigned
  to ACA.
  
  The customers’ vehicle was repossessed on September 14,
  2022, due to the account being 70 days past due.  The last time ACA
  received a payment was on May 19, 2022.
  
  On 9/3/2022, Ms. ***** indicated she did not have the money
  to pay and no firm payment arrangements were made.  This is a valid
  repossession.     
  
  The vehicle is now on hold at the auction until
  10/21/2022.  If the customers are still interested in reinstating the
  Contract and getting the vehicle back,  they  will need to contact
  our reinstatement department at ************ during regular business hours
  before that date.   
  
  A positive customer experience is a top priority for ACA, as
  stated in our mission and values. If the customers have any questions,
  they may contact Karen R. at ******** **** or ***********************************.
  
  Keith K.
  Customer Experience Manager
  

• Initial Complaint

  Date:09/15/2022

  Type:Billing Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  I have been contacting American Credit Acceptance about a late payment remark left on my credit report. I don't recall my payment being over 30 days late. I have sent in several goodwill letters but have not heard back in two years. I am asking in goodwill for the remark to be deleted

  

  Business Response

  Date: 09/22/2022

  This is to serve as a formal response by American Credit
  Acceptance, LLC (“ACA”) to the complaint filed by ******** ******* with the BBB
  case number ********.
  
  Our records indicate that Ms. ****** account reported 30+
  days past due on 11/30/2017.
  
  ACA appreciates the opportunity to explain how monthly
  payment history is reported to the credit bureaus. ACA reports payment history
  based on current or past due status at the end of each month. An account which
  is 0 to 29 days past due at the end of the month will report as “current.” An
  account which is 30 to 59 days past due at the end of the month will report as
  “30+ late.” An account which is 60 to 89 days past due at the end of the month
  will report as “60+ late.”
  
  The late mark was valid because November 2017 ended 39 days
  past due, so reported as 30+ late.
  
  As a courtesy, ACA is going to change the late mark to
  neutral on her credit reporting.   The process will take 48-72
  hours. 

• Initial Complaint

  Date:09/12/2022

  Type:Order Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  So back in 2020 for 5 months I put $1000.00 on my car loan to pay it off quicker. My balance now should be below $10,000.00. But instead it went from 15,900 something to 14,900 something and instead when I called twice and spoke to two different representatives they said that it all went to interest. I do not know how that is possible when I paid $1000 each month. Then they said I have daily interest of 10% which I have never heard of. I paid more money and also paid early just like the representatives told me to so that way I could pay my car off faster but the stole my money and put it somewhere else. It makes no sense when I was doing exactly what they asked. Now I am hearing that they can repossess a car due to “broken promises “ which are payments that you set up and then fail to pay. This company is a complete scam I want half of the money back from those previous payments or for them to put the money I paid solely on the principal of my car loan. These payments were made in May June July August and September of 2020. I was really upset when I found out that the money I paid did not go to my car. My APR rate is high 26% at that time but that shouldn’t matter. If this matter isn’t resolved I will sue this company because this isn’t right. every time you call you can’t even speak with a supervisor. One more thing my balance seemed to not really drop. I had a deferred payment but that was not the cause and they tried giving me that excuse, the guy I spoke to kept pausing and didn’t even know how to answer my question of where my money went. I will sue if this isn’t resolved I do not want another explanation just please put that money on my car.

  

  Business Response

  Date: 10/04/2022

   This is to serve as a formal response by American
  Credit Acceptance, LLC (“ACA”) to the complaint filed by  ***** *******
  with the BBB case number ********.  
  
  ACA has reached out by phone and have been unable to speak
  with Ms. *******.  An investigation of the customer’s account determined
  Ms. *******  signed a Retail Installment Contract (copy attached) on
  11/14/2018 with ******.  The Contract was assigned to ACA. The Contract calls for a payment schedule of 72
   payments of $458.53 due monthly beginning 12/28/2018. The Contract also
  calls for an annual percentage rate (APR) of 28%. This rate will not change
  over the life of the Contract. ACA has assisted Ms. ******* with three (3)
  payment extensions, which extended six (6) monthly payments (see Payment Extension
  Confirmations, attached).
  The customer made $1,000.00 payments on 3/17/2021 and
  6/28/2021, but not in the months mentioned in the BBB complaint (see Customer
  Transaction History, attached). For the months mentioned in the complaint, Ms.
  ******* made her regular monthly payment of $458.53, specifically on the
  following dates: 5/14/2020, 6/15/2020, 7/15/2020, 7/28/2020, and 9/5/2020.
  
  Interest accrues daily and is based on current principal
  balance and the contractual annual percentage rate (APR) of 28%.  When the
  payments are posted, any accrued interest is paid first, then the remainder of
  the payment is applied to the principal.  Regarding applying payments, ACA
  applies payments in the following allocation order:
  
             
  1.           Repossession
  fees, if any
             
  2.           Interest
  (currently due)
             
  3.           Principal
  (current and past due)
             
  4.           All other fees
  (such as late fees and non-sufficient funds fees (NSF)
             
  5.           Remaining
  principal
  
  Whenever Ms. ******* makes a payment, ACA applies the
  payment to the accrued interest first, then principal. Interest accrues daily
  and is based on the current principal balance, the APR of 28%,  and the
  number of days over which interest has accrued. The principal balance is
  highest at the beginning of the loan, so more of the payment is taken up by
  interest early in the loan.  The customer has made the equivalent of 40
  monthly payments on her Contract which has a term of 72 months (6 years).
    She has paid late on numerous occasions (including incurring 21 late
  charges, which are assessed if a payment is more than 10 days late).
   Paying late (after the due date) and payment extensions cause additional
  accrued interest and more of each payment to be taken up by interest and not
  available to apply to principal. An explanatory document entitled “Simple
  Interest FAQ” is attached which will further explain how simple interest works.
  
  In addition, as stated in Simple Interest FAQ, to reduce
  interest costs and help reduce principal balance, the customer may desire to
  make lump sum payments (in addition to her regular monthly payments).
   Any payment overage will automatically apply to principal once the
  accrued interest and any unpaid late fees are paid. Gradually, over the
  72-month term, as the customer makes regular on-time full monthly payments, her
   principal balance will be reduced and less of each payment will apply to
  interest and more to principal.
  
  The account’s payoff balance as of 10/3/2022 is
  $13,660.73 (principal balance of $13,274.60 unpaid accrued interest of
  $386.13).  
  
  The customer has paid a total of $18,753.27 so far
  on the Contract. (See Customer Transaction History, attached).
  
  ACA would like to clarify that there is no 10% daily
  interest. Ms. ******* may have been advised that her current per diem (per day)
  interest amount is $10.32.  The per diem interest amount is simply a way
  to express the dollar amount of interest accruing per day based on the
  contractual APR of 28% and the account’s principal balance at the time. As the
  customer makes timely full monthly payments, their principal balance will
  decrease and the per diem interest amount will also decrease.
  
  If a customer pays strictly according to the payment
  schedule, some of every payment (except the first payment) will be available to
  apply to principal, after accrued interest is paid. However, if a payment is one, two, or more days late, additional interest
  has accrued, causing more of the next payment to apply to interest and less or
  none to be available to pay down principal.
  
  ACA would also like to clarify that we do not repossess
  customer’s vehicles solely due to broken payment promises. ACA strives to avoid
  repossessing vehicles and does not begin repossession activity until an account
  is significantly past due and reasonable efforts to bring the account current
  have failed. If an account is not significantly past due, a broken payment
  promise will not cause the vehicle to be assigned for repossession.
  
  ACA strives for a positive customer experience.  If Ms.
  ******* has any additional questions, she can call  Karen R. at
  ************ or by email at ***********************************.
  
  Keith K.
  

• Initial Complaint

  Date:09/09/2022

  Type:Billing Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  I am a consumer by law and my information was misused and now I have some false not 100% accurate accounts on my credit report. Unauthorized used of my credit report.
  
  I demand deletion of the items and information plus I demand monetary compensation!!!

  

  Business Response

  Date: 10/11/2022

  This is to serve as a formal response by American Credit
  Acceptance, LLC (“ACA”) to the complaint filed by ******** ***** with the
  BBB case number *********
  
  ACA has reached out by phone and have been unable to speak
  with Ms. *****.  An investigation of the customer’s account determined Ms.
  ***** signed a Retail Installment Contract on  01/14/2017 with
   ********** **** ******* ******.  The contract was assigned to ACA.
   The customer’s account charged off on 8/04/2018  after reaching 120
  days past due.  ACA was reporting the account accurately to the credit
  bureaus,  but ACA’s trade line is now being deleted  due to an
  internal policy. 
  
  The account is currently an active charged off account past
  due for 2/28/2018.  The payoff balance is $6,851.13.  If Ms. *****
  would like to settle the account for less than the full balance, we ask her to
  contact our office. 
  
  A positive customer experience is a top priority for ACA, as
  stated in our mission and values. If Ms. ***** has any questions, she may
  contact  Karen R. at ******** **** or ************************************
  
  Keith K.
  Customer Experience Manager
  
  

• Initial Complaint

  Date:09/09/2022

  Type:Billing Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  I have reporting an issue several times in regards to my Transaction history not working on the portal. I have chatted in several times. The Supervisor that I got every time was rude, asked for my credentials ( which is illegal) to sign into my profile. You guys care about nothing but money it seems like and it is a shame that you guys have all these Complaints including mine but as long as you guys get paid that's all that you guys seem to care about and not fixing issues that the customer is facing. You guys just continue to give me the run around when it is a simple online function that should not take literally almost 1/2 year to resolve! You guys should really compensate me since I am having to consistently contact you guys to resolve this. To be honest, I like to use the transaction history because the Interest that continues to rack up daily is absurd. And I was never properly explained when I got my vehicle that it is daily interest versus monthly. Maybe by filing a complaint on here in which I told the supervisor I was going to. Maybe this will be resolved.

  

  Business Response

  Date: 10/18/2022

  This is to serve as a formal response by American Credit
  Acceptance, LLC (“ACA”) to the complaint filed by  ******* *****
   with the BBB case number  ********
  
  ACA has reached out by phone and have been able to briefly
  speak with Mr. *****.  ACA apologizes  for the confusion this
  situation caused.  After an investigation of the customer’s account it  has been determined Mr. ***** signed a “Simple
  Interest Retail Installment Contract with ******** *** Nissan , **** ********
  Blvd, ***** **** Beach  33411, for the purchase of a 2014 Toyota Camry,
   VIN#  ***************** (“the
  Contract,” copy attached) on 11/21/ 2019 .  The Contract was assigned to
  ACA.

  ACA would like the opportunity to explain simple interest to
  the customer.  The Contract calls for a payment schedule of 72 payments of
  $434.52 due monthly beginning January 4,2020. Mr. ***** has made the equivalent
  of thirty (30) monthly payments. (See Customer Transaction History, attached).
  ACA has assisted the customer with one payment extensions which extended two
  monthly payments. Mr. ***** requested and was approved for a due date change,
  effective April 13, 2021.
  
  Interest accrues daily and is based on current principal
  balance and the contractual annual percentage rate (APR) of 26.8 %.  When
  the payments are posted, any accrued interest is paid first, then the remainder
  of the payment is applied to the principal.  Regarding applying payments,
  ACA applies payments in the following allocation order:
  
  
             
  1.           Repossession
  fees, if any
             
  2.           Interest
  (currently due)
             
  3.           Principal
  (current and past due)
             
  4.           All other fees
  (such as late fees and non-sufficient funds fees (NSF)
             
  5.           Remaining
  principal
  

  Whenever Mr. *****  makes a payment, ACA applies the
  payment to the accrued interest first, then principal. Interest accrues daily
  and is based on the current principal balance, the APR of 26.8% and the number
  of days over which interest has accrued. The principal balance is highest at
  the beginning of the loan, so more of the payment is taken up by interest early
  in the loan.  The customer has  made the equivalent of 30 monthly
  payments on his Contract which has a term of 72 months.  Paying late
  (after the due date) causes additional accrued interest and more of each
  payment to be taken up by interest and late fees and not available to apply to
  principal.  An explanatory document
  entitled “Simple Interest FAQ” is attached which will further explain how
  simple interest works.
  
  In addition, as stated in Simple Interest FAQ, to reduce
  interest costs and help reduce principal balance, the customer may desire to
  make lump sum payments (in addition to his monthly payments).  Any
  payment overage will automatically apply to principal once the accrued interest
  and any unpaid late fees are paid. Gradually over the 72-month term, as the
  customer makes regular on-time monthly, his,  principal balance will be
  reduced and less of each payment will apply to interest and more to principal.
  
  The account’s payoff balance as of 10/18/2022 is
  $13,719.16 (principal balance of $13,382.92 unpaid accrued interest of $316.35
  plus a late fee of $19.89 ).  
  
   The current per diem
  interest is $9.82. The per diem interest amount is a way to express the
  amount of interest accruing per day based on the contractual APR of 26.8%
   and the account’s principal balance at the time. As the customer makes
  timely full monthly payments, their principal balance will decrease and the per
  diem interest amount will also decrease.
  
  If a customer pays strictly according to the payment
  schedule, some of every payment (except the first payment) will be available to
  apply to principal, after accrued interest is paid. However, if a payment is
  one, two, or more days late, additional interest has accrued, causing more of
  the next payment to apply to interest and less or none to be available to pay
  down principal.
  
  We reviewed the call and did not find the associate to be
  rude or unprofessional.
  
  In regards to online line transaction history. ACA is
  aware of this issue and are working on a resolution.  In the interim, we
  will be happy to email a copy to the customer whenever needed.  
  
  ACA strives for a positive customer experience.  If Mr.
  ***** has any additional questions, he can call  Karen R. at 864-********
  or by email at ******************@acacceptance.com.
  
  Keith K.
  Customer Experience Manager  

  Customer Answer

  Date: 10/18/2022

  Better Business Bureau:
  
  
  
  I have reviewed the response made by the business in reference to complaint ID ********, and have determined that this does not resolve my complaint.  First of all I did not call, I chatted with an agent. He asked me for my login Information which is unethical. It was never explained in the beginning of my loan that interest gets added on every day. From a customer service standpoint you guys are so quick to want money. But when an issue arises such as the transaction history, they want to take there absolute sweet time instead of caring towards the customer.
  
  
  Regards,
  
  
  
  ******* *****

  

  Business Response

  Date: 10/24/2022

  We provide the Simple Interest FAQ in the event there is an
  issue understanding how interest is calculated and it is also available on our
  website.
  In our Welcome Package on page 2, we do have a section on
  “How Payments Are Applied” to the account.  Of course, in signing the Contract,
  the  Customer affirms that he agrees to the terms of the Contract and that
  before he signed it, he was free to take it and review it. The Contract
  describes “How we will figure Finance Charge” and “How we will apply payments”
  on page 2 of the Contract.

  Customer Answer

  Date: 10/25/2022

  Better Business Bureau:
  
  
  
  I have reviewed the response made by the business in reference to complaint ID ********, and have determined that this does not resolve my complaint.  There is nothing that states that further interest is applied daily! Additional interest typically gets applied when payments are late. And clearly once again you guys are not considering on top of this my poor experience as a customer. All you guys seem to care about is nothing but Money and if other people are agreeing with that on google reviews. Proven point that I’m not the one with the problem.
  
  
  Regards,
  
  
  
  ******* *****

• Initial Complaint

  Date:09/07/2022

  Type:Billing Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  About 25 months ago, I bought a car for about 15k. I received a loan from American credit acceptance. My payment is $432 and I am never late so for almost 2 1/2 years, you would think that more of the principal would be paid down but it’s currently at 13k now. Makes no sense. Every time I call to ask, they are rude and refuse to help. When I said I need to speak with a supervisor, I was denied. I am starting to get the feeling that this loan was rather predatory and I am going to dig deeper into this subject and things going on around me possibly involving American Credit Acceptance. It doesn’t make sense anymore and I am pretty upset about this. Seems dishonest to me and I am almost afraid to look to see why not much has touched the principle of the loan and then when I call to ask about an early buy out, I’m given the same amount that I paid for the car 2 1/2 years ago. If anyone can help me look into this issue, I just got done reading hundreds of online reviews stating the same exact thing. Please help.
  ***** ****** 

  

  Business Response

  Date: 09/29/2022

  This is to serve as a formal response by American Credit
  Acceptance, LLC (“ACA”) to the complaint filed by ***** ****** with the BBB
  case number *********
  
  ACA has reached out by phone and have been unable to speak
  with Ms. ******.  An investigation of the customer’s account determined
  Ms. ****** signed a Retail Installment Contract (copy attached) on 4/23/20202
   with ********** *** ****** ****** ******** *** ****** ** ***** for the
  purchase of a 2019 *** Rio.  The Contract was assigned to ACA
  
  The Contract calls for a payment schedule of 72
   payments of $432.29  due monthly beginning 6/7/2020.  Interest
  accrues daily and is based on current principal balance and the contractual
  annual percentage rate (APR) of 24.99%.  When the payments are posted, any
  accrued interest is paid first, then the remainder of the payment is applied to
  the principal.  Regarding applying payments, ACA applies payments in the
  following allocation order:
  
  
             
  1.           Repossession
  fees, if any
             
  2.           Interest
  (currently due)
             
  3.           Principal
  (current and past due)
             
  4.           All other fees
  (such as late fees and non-sufficient funds fees (NSF)
             
  5.           Remaining
  principal

  Whenever Ms. ****** makes a payment, ACA applies the payment
  to the accrued interest first, then principal. Interest accrues daily and is
  based on the current principal balance, the APR of 24.99%,  and the number
  of days over which interest has accrued. The principal balance is highest at
  the beginning of the loan, so more of the payment is taken up by interest early
  in the loan.  The customer has  made the equivalent of
  28 monthly payments on her  Contract which has a term of 72 months (6
  years).  Paying late (after the due date) causes additional accrued
  interest and more of each payment to be taken up by interest and not available
  to apply to principal. An explanatory document entitled “Simple Interest FAQ”
  is attached which will further explain how simple interest works.
  
  In addition, as stated in Simple Interest FAQ, to reduce
  interest costs and help reduce principal balance, the customer may desire to
  make lump sum payments (in addition to his monthly payments).  Any
  payment overage will automatically apply to principal once the accrued interest
  and any unpaid late fees are paid. Gradually over the 72-month term, as the
  customer makes regular on-time monthly, her,  principal balance will be
  reduced and less of each payment will apply to interest and more to principal.
  
  The account’s payoff balance as of 9/28/2022 is $12,546.86
   (principal balance of $12,369.02 unpaid accrued interest of $177.84).
   
  
  The customer has paid a total of $12,141.15 so
   far on the Contract.  (See Customer Transaction History, attached).
  
  The current per diem interest is $8.46.  The per diem
  interest amount is a way to express the amount of interest accruing per day
  based on the contractual APR of 24.99% and the account’s principal balance at
  the time. As the customer makes timely full monthly payments, their principal
  balance will decrease and the per diem interest amount will also decrease.
  
  If a customer pays strictly according to the payment
  schedule, some of every payment (except the first payment) will be available to
  apply to principal, after accrued interest is paid. However, if a payment is one, two, or more days late, additional interest
  has accrued, causing more of the next payment to apply to interest and less or
  none to be available to pay down principal.
  
  ACA strenuously denies any
  predatory lending practices. Rather, ACA is committed to treating our customers
  with dignity and respect and is dedicated to helping customers purchase
  affordable and reliable transportation. During ACA’s funding origination
  process, ACA completes an assessment of the customer’s ability to repay the
  obligation incurred by the Contract. ACA verifies key information about the
  customer such as employment status, length of employment, income, and residence
  status. ACA completed this assessment for Ms. ******, including obtaining proof
  of income and proof of employment.
  
  ACA strives for a positive customer experience.  If Ms.
  ****** has any additional questions, she can call  Karen R. at
  ***********1 or by email at ***********************************.
  
  Keith K.
  Customer Experience Manager