Consumer complaint received 2020-10-29
Company: UNIVERSAL ACCEPTANCE CORPORATION (NE)
State: MN
Product: Vehicle loan or lease
Sub-product: Loan
Issue: Incorrect information on your report
Sub-issue: Information is missing that should be on the report

Complaint:
My open auto loan account with Universal Acceptance Corporation was removed from my XX/XX/XXXXreport all together. I have an XXXX XXXX XX/XX/XXXX I finance through them. I was alerted to a change to my account by XX/XX/XXXX on XXXX XXXX that an account was removed from my report. When I logged in I found that it was my carhop finance account. I asked through email why my account was removed and was told they were made aware and were working with the credit bureau to correct this matter. I have since had no contact from them in regards to this matter. Yesterday XXXX XXXX XXXX I called XX/XX/XXXXdirectly and asked why my account was removed. I was told that XX/XX/XXXX has no access to remove accounts, that has to be done by the creditor directly. I have had many many mechanical issues with this vehicle since I bought it from them on XX/XX/XXXX, which has total more then {$4500.00} in maintenance, fees for backup transportation and tows. Although they have helped with repair costs along the way. When paying over {$10000.00} for a car that is valued at roughly {$3800.00} at time of sale, I expect it to be thoroughly inspected. When issues arise I expect to be referred to competent mechanics if I have to go through those of your choice as stated to me many times. In total my car has been un drivable for at least 5 months and they have had to replace the drive shaft twice due to faulty labor. Its now having issues yet again. I still owe a total of about {$1300.00} and not sure if that is all interest accrued through the payment arrangements set to help pay for mechanics and not be threatened with repossession. Other then being strained for finances due to mechanical issues and an income issue due to covid I have stayed reasonably current on my loan and tried to stay in contact as best I can but even after explaining issues and when to expect payment they have called me every day at times looking for payment ( these issues happened specifically at the time of covid impacting my ability to pay ) and continued to threaten repossession even after chatting online with a representative that stated they had stopped repossession for the time being. The last time my car broke down was from approximately XX/XX/XXXX and wasnt able to be repaired until XX/XX/XXXX. At which time they suggested a couple times I trade my vehicle in, I refused. When my car was fixed I went to another auto dealer and had my credit run at which time I was denied because my score was impacted about 80-90 points I found out due to my loan delinquency during the start of the pandemic. It was about a month after this that my account was as removed from XX/XX/XXXX. Every time I have spoken to them in regards to my vehicle or loan after that they have pushed me to trade in my vehicle. I wasnt sure what area I should file this complaint under but feel this company has engaged in some very serious predatory lending practices.

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