Consumer complaint received 2024-11-18 00:00:00
Product: Vehicle loan or lease — Loan
Issue: Problems at the end of the loan or lease — Unable to receive car title or other problem after the loan is paid off
Company: Bridgecrest Acceptance Corporation
State: GA

Complaint narrative:
I am writing to firmly dispute XXXXt XXXX XXXX response, as it contains inaccuracies and misrepresentations that suggest the company is acting in bad faith and possibly engaging in fraudulent practices. Below, I outline why the loan has been fully paid, why I was in good standing, and how XXXX refusal to release the title is unjustified. 
1. Loan Maturity and My Good Standing Contract Maturity : The original maturity date of my loan was XX/XX/year>. While deferments were granted, I paid for each deferment in full, including any associated interest. Deferments extended the loan term but should not result in additional unexplained charges if all payments have been made as agreed. 
Late Fees Paid : I have documentation proving that I paid all late fees promptly and adhered to the terms of the Retail Installment Contract. 

2. Failure to Properly Apply My Payments Misallocation of Payments : My payment history clearly shows that I made payments according to the contract. Yet, Bridgecrests claim that accrued interest caused the loan balance to remain does not align with the terms or my understanding of how payments should have been applied. 
Unlawful Interest Charges : Every accrued interest charge was paid at the time of each payment. Bridgecrest has not explained why they claim I still owe {$3900.00}, despite my fulfilling all contractual obligations. 

XXXX. Deceptive Practices in Extending the Maturity Date Inconsistent Accounting : Bridgecrest extended the maturity date to XX/XX/year>, citing deferments. These deferments were agreed upon in good faith and paid for. As such, they should not result in additional charges if my payments adhered to the agreed-upon schedule. The additional interest Bridgecrest is charging seems unwarranted. 
Fraudulent Extension of Loan Balance in the name of " UNPAID INTEREST '' : By prolonging the maturity date without proper justification and inflating the remaining balance, Bridgecrest appears to be unfairly extending my debt to collect additional payments. This feels like predatory lending. 

XXXX. Failure to Provide Evidence Supporting the Remaining Balance Lack of Transparent Accounting : Despite my repeated inquiries, Bridgecrest has not provided a clear breakdown of how my payments were applied, how interest was calculated, or how deferments affected the remaining balance. A legitimate lender would willingly disclose this information. 
Absence of Validation : Bridgecrest claims that all processes and policies have been followed, yet they have provided no evidence to support this. Their refusal to validate the balance undermines their argument and raises serious concerns. 

XXXX. Breach of Consumer Protections and Potential Fraud Bad Faith Actions : XXXX refusal to release my title, even though my payments satisfy the loan, is a breach of fair lending practices. 
Fraudulent Intent : By inflating the balance and refusing to provide transparent calculations, Bridgecrest seems to be unjustly trying to extract further payments from me. This XXXX violate the Truth in Lending Act ( TILA ) and other consumer protection laws. 

Conclusion I have fulfilled all obligations under my loan contract, including paying all late fees and accrued interest. Bridgecrest has failed to justify their claim of a remaining balance or their refusal to release my vehicle title. I respectfully request that the Consumer Financial Protection Bureau investigate Bridgecrests practices for potential violations of consumer protection laws and ensure that my vehicle title is released without further delay.

Company response to consumer: Closed with explanation