Consumer complaint received 2024-06-17
Product: Credit reporting or other personal consumer reports — Credit reporting
Issue: Incorrect information on your report — Account information incorrect
Company: CREDIT ACCEPTANCE CORPORATION (MI)

XX/XX/XXXX XXXX XXXX XXXX XXXX XXXX, MI XXXX Consumer Financial Protection Bureau XXXX XXXX XXXX XXXX XXXX, DC XXXX Subject : Urgent Complaint Against Credit Acceptance for Inaccurate Credit Reporting and Non-Compliance Dear Consumer Financial Protection Bureau, I am writing to file a formal complaint against Credit Acceptance Corporation due to ongoing issues related to inaccurate credit reporting and a lack of compliance in providing necessary documentation. These issues have significantly impacted my financial well-being and credit standing. 

Detailed Description of the Issue On XX/XX/XXXX, I received a cancellation of debt from Credit Acceptance indicating a discharge of debt of {$5800.00} associated with Credit Acceptance. Then 2 weeks later I received another cancellation of debt but this letter had {$0.00} discharged ( Account Number : XXXX. Knowing this information to be contradicting, I promptly contacted Credit Acceptance on XX/XX/XXXX, to dispute the inaccuracy and provided comprehensive documentation, including bank statements and payment confirmations, to demonstrate that my payments were current. 
Despite my efforts, Credit Acceptance has not corrected the erroneous information. Instead, they have continued to report the account as delinquent, which is a clear violation of the Fair Credit Reporting Act ( FCRA ). Additionally, Credit Acceptance has failed to provide the necessary loan documentation and disclosures as required under the Truth in Lending Act ( TILA ) and the Gramm-Leach-Bliley Act ( GLBA ). 
Timeline of Events and Attempts at Resolution XX/XX/XXXX : Sent a certified letter to Credit Acceptance reiterating my dispute and requesting urgent correction. 
XX/XX/XXXX : Received a generic response letter stating that my account was under review but without any detailed investigation or resolution. 
Impact of the Issue This ongoing issue has caused a significant drop in my credit score, preventing me from securing favorable mortgage terms and resulting in higher interest rates. The financial and emotional toll has been considerable, impacting my ability to manage my finances effectively. 

Requested Resolution I seek the CFPBs assistance in the following : Investigation : A thorough investigation into my dispute with Credit Acceptance to determine the accuracy of their reporting and compliance with federal laws.

Correction : Immediate correction of the inaccurate information on my credit report. 
Documentation : Provision of all necessary loan documentation and disclosures as required under TILA and GLBA.

Account Status : An accurate reflection of the account status, indicating the cessation of collection efforts if applicable. 
Supporting Documentation Please find attached all relevant documents, including copies of my correspondence with Credit Acceptance, bank statements, payment confirmations, and their responses. 
I appreciate the CFPBs immediate attention to this critical issue and look forward to your support in rectifying this distressing situation. 

Thank you for your assistance and intervention. 

Sincerely, XXXX XXXX