Consumer complaint received 2023-08-14
Company: CREDIT ACCEPTANCE CORPORATION
State: CA
Product: Vehicle loan or lease
Sub-product: Loan
Issue: Incorrect information on your report
Sub-issue: Account status incorrect

Complaint:
XX/XX/2023 XXXX XXXX XXXX XXXX XXXX : Request for Assistance in Rectifying Credit Report Inaccuracies Dear Sir/Madam, I hope this letter finds you well. I am writing to seek your support and intervention regarding a matter of significant concern related to my credit report accuracy. Considering the challenges posed by the COVID-19 pandemic, I find myself in a distressing situation that has affected my financial well-being and, subsequently, my credit history. The events leading up to my financial hardship began with a severe car accident that left me incapacitated and unable to continue my employment as an XXXX XXXX  and XXXX XXXX. Subsequently, the pandemic worsened my difficulties, causing a loss of income that made it increasingly challenging to meet my monthly car payments. I took the initiative to communicate my financial predicament promptly to Credit Acceptance CorpXXXX, the lender associated with my auto loan, in hopes of finding a solution to my circumstances. Regrettably, I was informed that the lender lacked a pandemic forgiveness program or payment deferral options, and I was advised to make good faith payments as a minimum. 

Despite my insistent efforts to manage my situation, matters took a turn for the worse. The looming threat of car repossession due to delinquency prompted undue pressure from Credit Acceptance Corp. During this challenging time, a collector 's unprofessional action led to the revocation of my good faith payment plan and the imposition of an abrupt ultimatum to settle the entire delinquent amount, ultimately resulting in the repossession of my car. In a desperate undertaking to regain possession, I was forced to borrow funds from multiple family members to meet the sudden payment demand. 

What followed was a persistent struggle to rectify inaccuracies in the credit reporting process. Despite being assured that my payment history would be accurately updated once the delinquent amount was settled, discrepancies were evident in the reporting provided by XXXX, XXXX, and XXXX. I promptly raised my concerns with these credit agencies, only to be informed that the lender, Credit Acceptance Corp., retained the authority to address these discrepancies. Furthermore, my attempts to dispute the inaccuracies via their own Dispute mail-in form, directly with Credit Acceptance Corp. were met with denial. 

Even after successfully resolving the past-due amount, my ordeal continued. Efforts to negotiate unwarranted late fees that were attached to subsequent on-time payments proved futile, as Credit Acceptance Corp. maintained a policy of imposing these fees, attributing them to prior delinquency. This practice has perpetuated my financial distress and perpetually affects my credit report, despite my commitment to honoring payments on time. I am reaching out to the XXXX XXXX XXXX XXXX with the sincere hope that you can intervene in this matter to ensure the accuracy and fairness of my credit report. I kindly request your support in advocating for the proper reflection of my timely payments and the rectification of inaccuracies that are unfairly tarnishing my credit history. Your intervention would go a long way in assisting me to rebuild my financial stability during these trying times. 

Enclosed with this letter, please find relevant documentation substantiating my claims, including records of payment history cited from the Credit Acceptance Corp. website, and receipts, and should you require medical documentation of my injury, I can provide it along with the Law firm contact information who represented me during my injury case. I am more than willing to provide any additional information or documents you may require facilitating the resolution of this matter. 

Thank you for taking the time to review my situation. I sincerely hope for a positive resolution that would alleviate my financial distress and help restore my credit report 's accuracy. Your assistance in this regard would mean a great deal to me, and I eagerly await your response. 

Respectfully, XXXX

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