Consumer complaint received 2023-08-04
Company: CREDIT ACCEPTANCE CORPORATION
State: TX
Product: Credit reporting, credit repair services, or other personal consumer reports
Sub-product: Credit reporting
Issue: Improper use of your report
Sub-issue: Reporting company used your report improperly

Complaint:
Ive been back and forth with Credit Acceptance in regards to their Unfair or deceptive acts or practices and upholding their sole duties and responsibilities according to federal law. 

As per Credit Acceptance response to the Consumer Financial Protection Bureau Complaint sent XX/XX/XXXX, On XX/XX/XXXXXXXX XXXX XXXX Legal Consultant in the Credit Acceptance Compliance Department Stated Because Credit Acceptance has a duty to furnish accurate information to the bureaus, no changes or updates are necessary. 
- ( Refer to Exhibit.A01 ) After obtaining my consumer report, Credit Acceptance Corp. has continuously furnished completely inaccurate information to my consumer report with the following Consumer Reporting Agencies : XXXX, XXXX, XXXX, and XXXX. 

In Accordance with my consumer report, Credit Acceptance Corp. furnished the following inaccurate information : the Current balance amount {$18000.00} and the Original Balance amount {$13000.00}. In addition there are different dates being reported to each Consumer Reporting Agency for the following : Last Payment, Date Account Opened, Date Reported, Loan Terms, and payment history.

- ( Refer to Exhibit.D01 ) As specified by Credit Acceptance Customer Portal Transaction History dated XXXX XXXX XXXX the Remaining Balance stated {$23000.00}, the Initial Balance date XXXX in the amount of {$24000.00}, and the Past Due amount stated {$9700.00} Dated XXXX XXXX XXXX  
- ( Refer to Exhibit.C01 ) However, Dated XXXX XXXX XXXX  Credit Acceptance updated the information on the Customer Portal with the following information : Remaining Balance amount stated {$19000.00} and the Past Due amount stated {$19000.00}. 
- ( Refer to XXXX ) As per Credit Acceptance response per CFPB Complaint, XXXX XXXX XXXX Consult Stated As of XX/XX/XXXX, were furnishing your account status to the credit bureaus as '' " 180 days or more past due. 
- ( Refer to Exhibit.A01 ) According to the information being furnished to the above mentioned consumer reporting agencies the Account Status and Payment Status states 120 days late.

- ( Refer to Exhibit.D01 ) Furthermore, XXXX XXXX Legal Consult also stated my Investigation confirms that we have adhered to the law in connection with your account - ( Refer to Exhibit.A01 ) Thus evidence as indicated above shows willful and negligent noncompliance. There was an investigation conducted by XXXX XXXX Legal Consultant in the Credit Acceptance Compliance Department on the information being furnished to the consumer reporting agencies, in which means XXXX XXXX was completely aware of the consistent inaccurate, and discriminating information. 

Furthermore, XXXX XXXX created the balance amounts ( Referencing to the Current balance amount of {$18000.00} and the Original Balance amount of {$13000.00} being furnished to the consumer reporting agencies ) or XXXX XXXX willfully overlooked such information because their internal system discloses information that has not been disclosed to I, XXXX XXXX the Consumer. 

Credit Acceptance is in Violation of the Following ; 15 U.S. Code 1681, 15 U.S Code 1681s-2, 15 U.S. Code 1681n, and 15 U.S. Code 1681o. 

In the words of XXXX XXXX Legal Consult as per CFPB Complaint response, Including the 22.99 %, appears on page 1. This APR is lawful in your state. 
- ( Refer to Exhibit.A01 ) Credit Acceptance is in Violation of Florida State Law Title XXXIX, 687.02 & 687.03 Pursuant to Florida State Law Title XXXIX, Chapter 687 - 687.03 Unlawful rates of interest It shall be usury and UNLAWFUL for ANY person to charge or take for any loan or obligation a rate of interest greater than the equivalent of 18 percent per annum simple interest, either directly or indirectly.

I have the right to make sure my private information isn't shared which is backed by 15 USC 6801 which states '' It is the policy of the Congress that each financial institution has an affirmative and continuing obligation to respect the privacy of its customers and to protect the security and confidentiality of those customers nonpublic personal information. '' A financial institution may not disclose nonpublic personal information to a Nonaffiliated third party unless the consumer is given an explanation of how the consumer can exercise that nondisclosure option. " ( Furnisher of information to credit agencies ) Never informed me of my right to exercise my nondisclosure option. 

I was told this discriminating information had to be reported to my consumer report pursuant to federal law according to privacy policy and CFPB response. The Consumer reporting agencies are all third party non-affiliate companies. 

Reporting my nonpublic personal information to non-affiliate companies while violating the Fair Credit Reporting Act is in clear violation of the Gramm-Leach-Bliley Act and my privacy rights under the Privacy Act of 1974. 

Credit Acceptance Corporation has either been in or is in multiple lawsuits in regards to their unfair or deceptive acts or practices. The company knowingly and willfully or should have known prior to customers signing their contracts, that borrowers would not be able to repay and default on their loans. 

Credit Acceptance internal system Credit Approval Processing System CAPS predicts how much money the company will make over the period of such loan regardless of the borrower 's inability to pay.

Credit acceptance has profited millions of dollars from the very same customers that has been harmed by way of harassment, discrimination, outrageous interest rate, fraudulent contracts, financial distress, family and household losses.

- ( Refer to Exhibit.G01 ) - ( Refer to Exhibit.G02 ) - ( Refer to Exhibit.G03 ) This erroneous information has damaged my credibility, caused a great deal of financial distress, and is preventing me from being able to provide for my household and family. Credit Acceptance and the Consumer Reporting Agencies mentioned above has been aware of this discriminating information for over a year. Each company has said to have conducted an investigation in regards to this information however, the information herein shows there has been no such investigation or during the investigation, said companies willfully chose to overlook the inaccuracies contained.

The business acts and/or practices of this company is completely unethical and there needs to be an audit done on my account IMMEDIATELY! 

Credit Acceptance Corporation has a Security Agreement with the Security Exchange Commission. Credit Acceptance ( XXXX : CACC ), Credit Acceptance Commission file number XXXX, Indenture Trustee XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX, Minnesota XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX, Minnesota XXXX - ( Refer to Exhibit.H01 ) Per Credit Acceptance Corporation and XXXX XXXX XXXX indenture agreement, Ive sent in via registered mail the proper instruments and documents needed to tender my security in exchange for payment to the Indenture Trustee XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX, Minnesota XXXX. 
- ( Refer to Exhibit.J01 ) I would like for this matter to be resolved. if your company continues to willfully and negligent non-comply, I will be filling a Federal Trade Commission Report and an Attorney General Complaint. 

My Account with Credit Acceptance Corporation Amount Number : XXXX needs to be audited IMMEDIATELY.

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