Consumer complaint received 2021-11-04
Company: CREDIT ACCEPTANCE CORPORATION
State: MD
Product: Vehicle loan or lease
Sub-product: Loan
Issue: Struggling to pay your loan
Sub-issue: Loan balance remaining after the vehicle is repossessed and sold

Complaint:
On or about XX/XX/XXXX i purchased a vehicle from Credit Acceptance via XXXX in XXXX MD. The vehicle i would end up financing was a " USED '' XXXX XXXX XXXX XXXXXXXX XXXX with XXXX miles on it. The Annual percentage rate was " 22.99 % '' the " Finance Charge '' was " {$17000.00}. With a down payment of {$1500.00} the " Total Sale Price '' was {$40000.00}. Beginning on XX/XX/XXXX. 
Credit Acceptance violated consumer protection and debt collection laws and regulations. It was alleged that Credit Acceptance made unfair and deceptive auto loans to thousands of consumers, provided investors with false or misleading information regarding auto securities they offered, and engaged in unfair debt-collection practices. I am a natural living breathing person and a consumer, i am a victim of Credit Acceptance Corp. and am and will be seeking remedy for the repossession of my vehicle that was illegally repossessed and resold without my Knowledge of the opportunity of rescission. Credit Acceptance failed to inform me of my consumer rights. The Interest rate of 22.99 % was predatory and viscous. I have disputed this account with XXXX XXXX XXXX and Credit Acceptance continues to report late payments on my account eventho they agreed to remove the account from all the credit bureaus in XXXX of XXXX Credit Acceptance has violated my rights under the FDCPA and i will seek remedy for violations of 15 U.S. Code 1635 a, b, f, time limit for exercise of right, 15 U.S. code 1605, 1, U.S. code 1640 a, # 1,2, i, b, e, and g. 15 U.S. code 1692 j, Furnishing Deceptive forms a, b, 1692 k, a # 2, b. I have all records and evidence to the matter. I have sent dispute letters through certified mail and verification letters to both the collection agencies and to the Credit bureaus with no avail. This is willfull at this point on both agencies to keep my personal information displayed on these cites in a negative since. I have been at this now for 2 yrs trying to have them rectify the matter at this point i feel it necessary to seek legal assistance on the matter of both Credit Acceptance and XXXX XXXX AND XXXX they have all violated my rights and my privacy. Identity theft is at hand and i never gave anybody or government or agency authorization or consent to report any of my personal information to anyone or at anytime. To this day there remains inaccurate and misleading information on my credit reports by all the bureaus. So this complaint is to Credit Acceptance but also to the irresponsible actions of the bureaus also. I have lost my property job and ability to support my family because of this and have been denied multiple times for credit opportunities because of this misleading illegal and damaging actions by said parties. All this has hindered my rights to XXXX XXXX and the pursuit of happiness.

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