Consumer complaint received 2022-03-05
Company: CREDIT ACCEPTANCE CORPORATION
State: MD
Product: Vehicle loan or lease
Sub-product: Loan
Issue: Incorrect information on your report
Sub-issue: Account status incorrect

Complaint:
Credit Acceptance purposely reports erroneous and damaging information about their customers to credit bureaus. 

I am a co-signer on a vehicle with my son that was purchased in XX/XX/XXXX. 

On XX/XX/XXXX, I received an alert from XXXX that Credit Acceptance reported the account 30 days past due as of XX/XX/XXXX. XX/XX/XXXX was the month the last payment on the loan was due. The company was contacted, and a request was made to remove the inaccurate reporting. They were again uncooperative. 
As of XX/XX/XXXX, the payment due on the account was {$380.00}. 
As of XX/XX/XXXX, the balance owed on the account was {$660.00}. 
As of XX/XX/XXXX, the loan pay-off quote amount was {$440.00}. The payoff amount was good through XX/XX/XXXX. 
On XX/XX/XXXX a payment in the amount of {$240.00} was made on the account. 
On XX/XX/XXXX a payment in the amount of {$200.00} was made on the account. 
On XX/XX/XXXX a payment in the amount of {$440.00} + {$3.00} processing fee was made and the loan was paid off in full. 

On XX/XX/XXXX, Credit Acceptance reported the account 180 days past due when it was not. 

In XXXX, Credit Acceptance reported the account past due twice to the credit bureaus. 

We've had constant issues with this predatory lender Credit Acceptance. Multiple times throughout the financing period, we've disputed their practice of reporting erroneous and damaging information to the credit bureaus. We've filed disputes with them to which some they did not respond to until after it was submitted more than once. After all of this effort, their responses have never included account records or any other data to that prove their status reporting as accurate. Filing disputes through the credit bureaus is even less effective. Credit bureaus appear to have no interest in protecting consumers or ensuring companies respond truthfully. 

After the onset of the COVID shutdown my son lost his job. He contacted Credit Acceptance and made a payment arrangement that modified the monthly amount due. This arrangement was called COVID Protected Status and it was fully adhered to. At the end of XX/XX/XXXX, Credit Acceptance sent an email notifying their intent to expire the COVID arrangements with account holders in less than 30 days. They instructed account holders to contact them to make arrangements or remit the remaining balance due in full for the period of the payment arrangement. My son contacted them as instructed and established new payment arrangements to continue the modified the monthly amount due. Neither time, did Credit Acceptance send out written notification confirming the arrangements, or the " COVID Protected Status ''. The customer only had the verbal confirmation of the representative they spoke with to go on.

Credit Acceptance refuses to put agreements and arrangements in writing for the consumer/account holder 's records. We've encountered problems with inconsistencies with the information about the account including payment postings and payment arrangements. When we request the information which they call " notes on the account '' they often stonewall us and have even claimed the information could not be provided. This practice makes it difficult to hold them accountable. They also do not make their notes or any other information available for the customer to see when reviewing their account online. You can only view payments through a certain point in time. 

They also falsely claimed they had installed a kill switch in the vehicle to disable it if payment was made.

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