Consumer complaint received 2024-07-20
Product: Vehicle loan or lease — Loan
Issue: Repossession — Deficiency balance after repossession
Company: CREDIT ACCEPTANCE CORPORATION (AR)

I purchased an automobile from a company called XXXX XXXX XXXX this vehicle purchased was financed through Credit Acceptance Corporation. I fell behind on the payments and was no longer able to make payments. The vehicle was then repossessed on or around XX/XX/XXXX. Going over my credit report I found an era with my Credit Acceptance account I then disputed this with XXXX through XXXX XXXX  on XX/XX/XXXX. After disputing the incorrect information which was the type of account that was reported was incorrect. After my dispute had been submitted on XX/XX/XXXX I received a notification from XXXX XXXX  that my XXXX XXXX had dropped XXXX points the reason listed was Credit Acceptance Corp account balance increased by {$34.00} form {$9800.00} to {$9900.00} It looks like your balance went up. This could be the result of a missed payment, which can have a negative effect on your score. Once I received this notification I contacted XXXX XXXX XX/XX/XXXX to get an explanation of the {$34.00} charge that had been submitted to my credit report because the vehicle had been repossessed on XX/XX/XXXX. The representative I spoke with said that she did not see a charge for {$34.00} but it sounded like a late fee I asked her why would a late fee be charged now when the vehicle has been repossessed, the account was closed, and this fee had not been charged prior to this the agent informed the account was not closed despite my credit reports indicating that it was and that I could settle the debt today over the phone for {$1900.00}. I asked the representative if I paid that amount could I get the vehicle back also that was when I was told the vehicle was sold at auction. According to the representative I spoke with from XXXX XXXX on XX/XX/XXXX. I was unware the vehicle was going to be auctioned because I never received an intent to sale letter via mail or email the representative claimed a notice was sent XX/XX/XXXX I however did not get it. I was informed that the vehicle sold for {$1100.00} this was supposed to be applied to my remaining balance I assume. I was once again not notified of the vehicle selling the amount received and if any what the deficiency balance would be. I requested a detailed statement of charges and fees from the time of purchase until current to figure out what the {$34.00} charge was for since it had caused my XXXX XXXX to drop by so many points. I was emailed a document labeled payment history this document was very confusing and the amounts did not make sense some seem to be duplicate fees applied and refunds that were not applied correctly to the balance. I then went back to my original contract to try to figure these varying amounts and I then realized I was over charged on the initial contract. I was charged for an extended service contract that did not want and I told the dealer this at the time because of the cost and I wanted to use XXXX XXXX which I used before and like there service. The dealer told me the extended warranty war required but as I read through the contract it said I did not have to purchase this. Then I traded in my current vehicle which I was given a {$2500.00} down payment for but doesn't look like it was applied correctly. The account history I was emailed started at the date XX/XX/XXXX however my purchase dated was XX/XX/XXXX my down payment and payment is not reflected in this document. The document seems to reflect amounts refunded from the cancellation of the XXXX coverage, XXXX charge rebate, XXXX refund but none of these amounts are credited towards the balance owed on the vehicle. I can provided the documentation of this. I also believe they have added junk fees to inflate the balance of the account and these fees are not reasonable. I feel like I was taken advantage of by the car dealer and XXXX XXXX and that they intentionally reported the {$34.00} ghost amount to lower my XXXX XXXX as retaliation for filing a dispute. I am currently looking for somewhere to live and my XXXX XXXX was already low but by XXXX XXXX submitting false amounts that cause a score drop of XXXX I will be unable to find housing I believe the have violated the FCRA and XXXX in regards to my contract and account with them.