Consumer complaint received 2023-04-20
Company: CREDIT ACCEPTANCE CORPORATION
State: NY
Product: Vehicle loan or lease
Sub-product: Lease
Issue: Getting a loan or lease
Sub-issue: Fraudulent loan

Complaint:
Credit Acceptance Corporation defrauded Consumer with a ( Retail Installment Contract ) thats was supposed to be a lawful finance charged which covers everything there should have not been no down payment on a finance charged. If so its illegal, In stead Credit Acceptance Corporation knowingly violated multiple consumers law Rights, Under the ( Truth in lending act. ) The law says Im the Consumer, Nowhere can you find the word ( citizen ) or ( borrower ) in the ( Truth In lending Act ) so therefore Iam the original consumer. 
15 U.S. Code 1602 ( j ) The terms open end credit plan and open end consumer credit plan mean a plan under which the creditor reasonably contemplates repeated transactions, which prescribes the terms of such transactions, and which provides for a finance charge which may be computed from time to time on the outstanding unpaid balance. A credit plan or open end consumer credit plan which is an open end credit plan or open end consumer credit plan within the meaning of the preceding sentence is an open end credit plan or open end consumer credit plan even if credit information is verified from time to time. 

( l ) The term credit card means any card, plate, coupon book or other credit device existing for the purpose of obtaining money, property, labor, or services on credit. 



15 U.S. Code 1605 - Determination of finance charge ( a ) Finance charge defined Except as otherwise provided in this section, the amount of the finance charge in connection with any consumer credit transaction shall be determined as the sum of all charges, payable directly or indirectly by the person to whom the credit is extended, and imposed directly or indirectly by the creditor as an incident to the extension of credit. The finance charge does not include charges of a type payable in a comparable cash transaction. The finance charge shall not include fees and amounts imposed by third party closing agents ( including settlement agents, attorneys, and escrow and title companies ) if the creditor does not require the imposition of the charges or the services provided and does not retain the charges. Examples of charges which are included in the finance charge include any of the following types of charges which are applicable : ( 1 ) Interest, time price differential, and any amount payable under a point, discount, or other system or additional charges.

( 2 ) Service or carrying charge.

( 3 ) Loan fee, finders fee, or similar charge.

( 4 ) Fee for an investigation or credit report.

( 5 ) Premium or other charge for any guarantee or insurance protecting the creditor against the obligors default or other credit loss.

( 6 ) Borrower-paid mortgage broker fees, including fees paid directly to the broker or the lender ( for delivery to the broker ) whether such fees are paid in cash or financed. 

Residents of XXXX XXXX XXXXXXXX have additional legal protections under the XXXX XXXX XXXXXXXX Consumer Protection Law. This law requires certain debt collectors trying to collect a debt within the city to obtain a special license from the XXXX Department of Consumer and Worker Protection ( formerly known as the XXXX Department of Consumer Affairs ). Debt collectors must also comply with other regulations. For example, they can only make up to two debt collection telephone calls to a particular consumer each week. 

Under the federal Fair Debt Collection Practices Act, in general, a debt collector is a person or a company that regularly collects debts owed to others, usually when those debts are past-due. 


My insurance was not added Unlawful down payment Misleading- finance bank or collection agency Law trumps any contract, so therefore its fraudulent. 

I have also mailed certified mail to : Credit Acceptance Corporation XXXX XXXX XXXX XXXX XXXX XXXX, MI XXXX XXXX XXXX, 2023 DEBT VALIDATION LETTER. 
AFFIDAVIT OF TRUTH Cease and desist Letter Revoked of signature XXXX Previously accepted state filings- notice of revocation rights in contracts and agreements.

Company public response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
Company response to consumer: Closed with explanation