Consumer complaint received 2023-12-07
Company: Exeter Finance Corp.
State: FL
Product: Vehicle loan or lease
Sub-product: Loan
Issue: Managing the loan or lease
Sub-issue: Billing problem

Complaint:
I furnished a Billing Error Notice to EXETER FINANCE LLC on XX/XX/XXXX sent it via certified mail to the amount of XXXX and was delivered on XX/XX/XXXX. On XX/XX/XXXX EXETER FINANCE LLC had my vehicle repossessed without providing any resolution to the billing error notice that was received in XX/XX/XXXX. This goes against the Truth In Lending Act ( TILA ) According to 12 CFR part 1026.13 ( d ) ( 1 ) Consumer 's right to withhold disputed amount ; collection action prohibited. The consumer need not pay ( and the creditor may not try to collect ) any portion of any required payment that the consumer believes is related to the disputed amount ( including related finance or other charges ). If the cardholder has enrolled in an automatic payment plan offered by the card issuer and has agreed to pay the credit card indebtedness by periodic deductions from the cardholder 's deposit account, the card issuer shall not deduct any part of the disputed amount or related finance or other charges if a billing error notice is received any time up to 3 business days before the scheduled payment date.

As well as 12 CFR part 1026.13 ( d ) ( 3 ) Acceleration of debt and restriction of account prohibited. A creditor shall not accelerate any part of the consumer 's indebtedness or restrict or close a consumer 's account solely because the consumer has exercised in good faith rights provided by this section. A creditor may be subject to the forfeiture penalty under 15 U.S.C. 1666 ( e ) for failure to comply with any of the requirements of this section.

EXETER FINANCE LLC also failed to provide resolution via mail in proving or disproving the disputes with evidence required as per 12 CFR 1026.13 ( e ) Procedures if billing error occurred as asserted. If a creditor determines that a billing error occurred as asserted, it shall within the time limits in paragraph ( c ) ( 2 ) of this section : ( 1 ) Correct the billing error and credit the consumer 's account with any disputed amount and related finance or other charges, as applicable; and ( 2 ) Mail or deliver a correction notice to the consumer.

As well as, 12 CFR 1026.13 ( f ) ( 1 ) Mail or deliver to the consumer an explanation that sets forth the reasons for the creditor 's belief that the billing error alleged by the consumer is incorrect in whole or in part ; ( 2 ) Furnish copies of documentary evidence of the consumer 's indebtedness, if the consumer so requests ; and ( 3 ) If a different billing error occurred, correct the billing error and credit the consumer 's account with any disputed amount and related finance or other charges, as applicable. 

In repossessing my vehicle without resolution EXETER FINANCE LLC has not operated in good faith and has not complied with any of the requirements and is now subject to the forfeiture penalty under 15 U.S.C. 1666 ( e ). 
I contacted EXETER FINANCE LLC via phone call on XX/XX/XXXX spoke to two managers to resolve and resolution was again refused. EXETER FINANCE LLC also continued to charge me late fees as well as contact me attempting to collect a debt even after receiving the Billing Error Notice. Attached I have provided the last three statements I received from EXETER FINANCE LLC showing the late charges incurred and no resolution. I am also attaching the Billing Error Notice in question as well as the return receipt confirming it's delivery on XX/XX/XXXX.

Company response to consumer: Closed with explanation