Consumer complaint received 2017-08-23
Company: American Credit Acceptance, LLC
State: CA
Product: Payday loan, title loan, or personal loan
Sub-product: Title loan
Issue: Problem with the payoff process at the end of the loan

Complaint:
Complaint regarding American Credit Acceptance Account # XXXX XX/XX/XXXX- I called American Credit Acceptance to make a payment arrangement. I had fallen behind due to a  Student Loan Garnishment that was taking approximately {$1200.00} a month since XX/XX/XXXX.  The agreed to arrangement was that I would pay {$50.00} on XX/XX/XXXX and {$1000.00} on XX/XX/XXXX, and then I would be eligible for a double deferment, bringing me completely current on the loan. Since I had not had a deferment for two and a half years, I was eligible for two deferments. I was advised to call back after the payment posted on XX/XX/XXXX to set up the second payment on XX/XX/XXXX. I was also advised that the vehicle would NOT be repossessed. XX/XX/XXXX- My vehicle was repossessed. I called after my work hours at XXXX, however, the repossession department was closed as they are on Eastern Time. I requested to speak to a supervisor to make a complaint. The supervisor stated that there was nothing they could do. I would have to call the repossession department the next day. XX/XX/XXXX- I had to take time off and leave my work site during the day to call as it was a lengthy phone call ( Over a period of 2 calls, I was on the phone with them for over 2 hours ) and the repossession office was on Eastern Time. The supervisor did listen to the last recorded conversation as I had requested she do so. After finding that the vehicle was wrongfully repossessed, she released the vehicle back to me, stated that I would NOT be responsible for any repossession fees, and put back in place the terms of our original agreement. I contacted the Repossession Yard immediately upon American Credit Acceptance releasing the vehicle. However, because it was a Friday afternoon, they would not release the vehicle until Monday. I went without my vehicle for a total of 5 days. XX/XX/XXXX- My appointment was at XXXX to pick up the vehicle, however, I had to wait all day. My vehicle was not physically released to me until XXXX. The location was a 45 minute drive away one way. I lost that entire work day. Furthermore, I noticed that the gas tank I had filled up the night my vehicle was repossessed was now on empty. When I made a complaint, and they noticed the discrepancy in the mileage, I was told that when the vehicle is repossessed, they may drive it  instead of towing it. So I also lost a full tank of gas. XX/XX/XXXX- My payment of {$50.00} was processed and cleared.
XX/XX/XXXX- My payment of {$1000.00} was processed and cleared.
XX/XX/XXXX- It is my understanding that the terms of our agreement is fulfilled since I fulfilled my part and I was advised that the double deferment was to be automatic if I did so. I had already been read the terms and agreed to it on a recorded line. I believed I was current on my account and that the next payment was due on XX/XX/XXXX.
XX/XX/XXXX- I received a statement in the mail, applying my payments of {$1000.00} to the repossession fees charged ( {$570.00} ) to my account and interest only ( {$420.00} ). None of that money was applied to the original loan. Furthermore, no deferment had been applied to my account. XX/XX/XXXX- I contacted XXXX XXXX XXXX to correct this matter immediately as I was in fear of my vehicle being wrongfully repossessed again. I was advised that I was 81 days past due. I was also told by a supervisor that I needed to have {$1.00} charged to my debit card to hold the account until XX/XX/XXXX, as she forwarded this account to the management department to be corrected. She stated that the {$1.00} hold would ensure that it was not repossessed again. She also said that she would contact me on XX/XX/XXXX. XX/XX/XXXX- I had not heard anything yet so I contacted American Credit Acceptance again. I was advised I was now 116 days past due. When I asked how is that possible when I just spoke to them less than a week ago, I was told that a {$1000.00} payment was reversed on XX/XX/XXXX. They confirmed that the {$1000.00} payment from XX/XX/XXXX was cleared as I had proof from my bank  statement. Yet, they could not explain where this {$1000.00} payment was reversed from or why. I was told by the supervisor that he would escalate this account to higher department to be resolved. I was also advised that the vehicle would NOT be repossessed. I then began to question all the transactions on the account from the past as I had not closely watched them these past 4 years, trusting naively that they were being honest. Who is to say that they havent made these horrific mistakes in the past costing me thousands. I then requested a complete history of every transaction on this account be emailed to me. I also advised them that I had done my best to go to XXXX XXXX XXXX directly to resolve these matters before seeking assistance from an outside agency, but at this point I needed to file a complaint with the Consumer Financial Protection Bureau.  It seems to only get worse as I allow American Credit Acceptance opportunities to correct their mistakes. The costs for me are becoming increasing as time goes on : My vehicle was wrongfully repossessed I lost one full day and two hours of work I did not have a vehicle for 5 days I lost a full tank of gas {$570.00} in Repossession fees charged to my account Interest continues to accrue on the balance Credit is adversely affected And now, I am being cheated {$1000.00} that they can not account for or explain why I am fearful that they may mistakenly repossess my vehicle again Furthermore, the loan is a bad loan to begin with As I begun to do more digging, I found that the Original Loan amount was {$24000.00}. The amount of 39 Payments I have paid thus far is {$29000.00}. The Current Balance of the loan is {$22000.00}. That means that after all these years, I have only paid {$2000.00} towards the original loan and {$27000.00} in interest! That is ridiculous! Please Help! I continue to make payments to stay afloat and keep the vehicle from being repossessed, however, because I am behind, the balance never decreases. It is now XX/XX/XXXX. I scheduled a payment for a check to be withdrawn on XX/XX/XXXX for one payment. Today is XX/XX/XXXX and still nothing has cleared my account. I havent received one phone call or letter either. My fear is that due to another one of their mistakes, the check was never processed and they might show up at my door again to repossess the vehicle again. I really need a bigger solution to get out of this bad loan that I have already paid so much into.

Company public response: Company believes it acted appropriately as authorized by contract or law
Company response to consumer: Closed with explanation