Consumer complaint received 2021-10-08
Product: Debt collection — Auto debt
Issue: False statements or representation — Attempted to collect wrong amount
Company: Exeter Finance, LLC. (FL)

To clarify, the prompts I received prior to this point did not really encompass my issue, so I will do that now. My car loan with Exeter Finance was originated in XX/XX/XXXX, the last car payment remitted was in XX/XX/XXXX, as the car was totaled in an accident. I contacted Exeter and told them where to pick up the car and I don't know what happened. The loan was subsequently charged off in XX/XX/XXXX. ABSOLUTELY NO PAYMENTS WERE REMITTED BY ME AFTER XX/XX/XXXX!!!! If I am understanding correctly, charged-off accounts are removed from your credit report seven years after the date of the last payment. Therefore, Exeter was scheduled to remove this account from my credit report this year, XX/XX/XXXX. However, upon reviewing my credit report in XXXX, I was amazed to see that in XXXX, XXXX, and XX/XX/XXXX, the balance owed increased. Then in XX/XX/XXXX... an insurance refund in the amount of {$580.00} was MIRACULOAUSLY applied to the account, which Exeter considers to be a payment. I was not given any statement or documentation regarding this " refund '' or any information on why my charged off balance increased TWO MONTHS before this " refund '' was applied. Ironically, NO OTHER PAYMENTS HAVE BEEN APPLIED TO THE ACCOUNT SINCE THEM. Exeter finance purposely applied a FRADULENT PAYMENT to a CHARGED-OFF LOAN, to reset the clock. Now my credit report shows that the last payments was received in XX/XX/XXXX, which means this won't be taken off until XX/XX/XXXX!!!!! This is NOT RIGHT!!!!! POOR PEOPLE ARE PREYED UPON!!! I don't make excuses for my life. I am a single mother and I have worked hard to support my family completely alone. No one wants to have a sub-prime car loan, but sometimes we LITERALLY DON'T HAVE A CHOICE!!!!! My daughter is going to college next year and I am desperately trying to fix my finances and credit, so that I can help her as best I can. EXETER FINANCE HAS BEEN A NIGHTMARE!!!!!!! There is NO WAY to justify an insurance refund being applied to a loan TWO YEARS AFTER IT WAS CHARGED OFF!!!! This was clearly done in an attempt to keep this on my report. I am BEGGING the CFPB to please step in and help me!!!!!!!!!! Having a $ XXXX debt removed would do wonders for my credit score and reduce my DTI ratio. The loan was supposed to drop off my report NEXT MONTH!!!!!!! I have been waiting for the day I would be rid of this mess and they pulled something like this. I CAN NOT HAVE THIS ON MY CREDIT REPORT FOR ANOTHER TWO YEARS!!!!! When I called them recently, they told me that it's not going to come off for another TEN YEARS!!!!!!! HOW CAN THEY ADD THREE YEARS WHENT THE ALREADY FRAUDULENTLY ADDED ON TWO MORE!!!!!!! This is illegal and not even human to do something like this. My dad died in XX/XX/XXXX and I cared for him, my siblings, and my child. I had to pay for everything and I already didn't have much. When I got into the accident ( the driver was uninsured and fled the seen ), I couldn't afford the car let alone to have it repaired. I just want Exeter to remove the charged off account from ALL THREE CREDIT BUREAUS!!!!!