Consumer complaint received 2022-12-09
Company: CREDIT ACCEPTANCE CORPORATION
State: TN
Product: Vehicle loan or lease
Sub-product: Loan
Issue: Getting a loan or lease
Sub-issue: Fraudulent loan

Complaint:
I initiated a Consumer Credit Transaction with XXXX XXXX XXXX XXXX  XXXX on XX/XX/XXXX XXXX for a XXXX XXXX XXXX I was a victim of unfair and deceptive practices. XXXX XXXX XXXX XXXX conspired with Credit Acceptance to defraud me, the consumer through unfair and deceptive practices. 
1. I completed a credit application which included my personal data and signature which is of unlimited value and it was never returned at the completion of the Consumer Credit transaction. Pursuant to 15 USC 1602g, I, a natural person / consumer, am the original creditor and extended my credit for the consumer credit transaction. I have never received my consumer credit application back. 


2. Public Law 90-321, Title 15 USC 1605 Sum of All Charges, and 16 CFR 433.1 ( d ), were violated as I did not receive Full Disclosure of the terms and conditions of the finance charge of Consumer Credit Transaction or in my offer to extend credit. 


XXXX. Per the 16 CFR section 444.3 Unfair or deceptive cosigner practices ; I was not presented the disclosures notifying me that I was signing the contract as a cosigner of the loan that XXXX Stop Auto received from Credit Acceptance. 


4. To date, I have not received 3 copies of the disclosures of my right to rescind the consumer credit transaction which is a violation of 15 USC 1692g ( a ) ( 3 ) and 15 USC 1635. 


5. At the consummation of the Consumer Credit Transaction, it was not explained to me that the Security Interest that was extended by my completed and signed Consumer Credit Application and/or promissory note, paid for the purchase in full and the credit card provided during the consumer Credit Transaction has been since charged for additional fees. 


6. At the consummation of the Consumer Credit transaction, I was given a copy of a 1 page contract between myself and XXXXXXXX XXXX XXXX that indicated Credit Acceptance as the Lien Holder, which was deceptive in that it indicated that the sale was a cash sale and not a finance sale. This violates 15 USC 1692j Furnishing certain deceptive forms. 


7. I was also given a 2nd page that is labeled As Is Used Vehicle Retail Buyers Order. There are several line items that list the fees associated with the Consumer Credit Transaction, however, there was no indication of what if any of the fees listed were included in the Finance charge as required by the Truth In Lending Act 15 USC 1605a. This violates my consumer rights. 


8. On the contract between this consumer and XXXX XXXX XXXX XXXX the last statement on the bottom of the page states IF THIS CONTRACT IS A FINANCE SALE ARRANGED BY THE SELLER THEN THIS ORDER IS NOT VALID UNTIL A FINANCE DISCLOSURE STATEMENT IS FILLED IN AND SIGNED BY THE BUYER. I have never received nor signed this Finance Disclosure Statement to date. 


9. I was told that I would need insurance to drive off of the lot at the end of the consumer credit transaction. During the discussion, I specifically asked if the insurance was supposed to be included in the finance charge. I was told no, I would have to purchase it separately. I was then made to purchase insurance from XXXX XXXX XXXX XXXX by your sellers even though 15 USC 1605 ( a-c ) specifically states that charges for life, accident, health as well as property damage and liability insurance are INCLUDED in the finance charge. 


10. I was set up on Auto Pay and {$380.00} was automatically withdrawn from my checking account on XXXX XX/XX/XXXX without my consent. 


11. I have never given Credit Acceptance direct consent to contact me, however, I have received 6 letters to date from the company which is a violation of 15 USC 1692c ( a ) and 15 USC1692c ( b ). 


12. I have never provided Credit Acceptance with my personal details, however, as evidenced on the 6 letters I have received from Credit Acceptance, with several instances where they are using my name, address which is Identity theft according to 15 USC 1681a ( q ) ( 3 ).

13. I have never signed a contract with Credit Acceptance, therefore the company has no standing to try to collect on any assumed obligation. 


14. Credit Acceptance has never given me any loan or transferred any money into a direct deposit account for me. The company will need to provide documentary evidence of all transactions between myself and the company.

15. Credit Acceptance has violated me by committing mail fraud by mailing a billing statement pursuant to 39 U.S. Code 3001 ( d ) ( 1 ) - Nonmailable matter.

16. Neither of the letters that were sent to the consumer by Credit Acceptance had the statement " the following notice : This is a solicitation for the order of goods or services, or both, and not a bill, invoice, or statement of account due. You are under no obligation to make any payments on account of this offer unless you accept this offer. ; as required under 39 USC 3001 ( d ) ( 2 ) ( A ). This is a violation of my consumer rights.

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