Consumer complaint received 2024-12-11 00:00:00
Product: Vehicle loan or lease — Loan
Issue: Repossession — Voluntary repossession
Company: CREDIT ACCEPTANCE CORPORATION
State: TX

Complaint narrative:
Date : XX/XX/XXXX To : Consumer Financial Protection Bureau ( CFPB ) Subject : Formal Complaint Against Credit Acceptance for Inaccurate and Unlawful Reporting of XXXX Dear CFPB Representative, I am writing to file a formal complaint against Credit Acceptance for their continued and inaccurate reporting of a repossession associated with Account # XXXX. Despite previously disputing this matter in XXXX and filing a prior complaint with the CFPB. I am shocked and dismayed to find this erroneous information still being reported on my credit file. 



This inaccurate reporting violates multiple federal laws and is negatively impacting my financial stability and ability to obtain credit opportunities. It is a clear example of disregard for consumer rights under the Fair Credit Reporting Act ( FCRA ) and the Fair Debt Collection Practices Act ( FDCPA ). 



Violations of Federal Law The actions of Credit Acceptance in this matter violate the following provisions : 1. 15 U.S. Code 1681i Procedures in Case of Disputed Accuracy Credit reporting agencies and furnishers are required to investigate disputes thoroughly. I have disputed this account and requested validation, yet no documentation has been provided to substantiate the repossession. This failure to investigate and validate violates my rights under this statute. 2. 15 U.S. Code 1681e ( b ) Compliance to Ensure Maximum Possible Accuracy Credit reporting agencies are obligated to ensure the maximum accuracy of consumer credit reports. Reporting an unsubstantiated repossession without verifying the ac
curacy of the information is a blatant failure to comply with this requirement.

3. 15 U.S. Code 1692e False or Misleading Representations Credit Acceptance has failed to provide correspondence regarding the sale of the repossessed vehicle, which would potentially reduce the balance owed. Additionally, I never received
documentation of any 1099-C cancellation of debt form. Continuing to report this account without such information is a false and misleading representation of the accounts status.

4. 15 U.S. Code 1692f Unfair Practices in Debt Collection The reporting of this repossession, without providing me with legally required documentation such as a notice of sale or cancellation of debt form, constitutes an unfair and deceptive practice. This lack of transparency hinders my ability to resolve or understand the account.

5. 15 U.S. Code 1692d Harassment or Abuse Reporting inaccurate information repeatedly, even after it was disputed, amounts to harassment under federal law. This continued reporting is causing financial and emotional harm.

6. 15 U.S. Code 1681n Civil Liability for Willful Noncompliance The willful and repeated failure to comply with the FCRA and FDCPA has caused measurable damage, including harm to my creditworthiness and financial opportunities.

Lack of Correspondence from Credit Acceptance I have never received any correspondence from Credit Acceptance regarding the sale of the repossessed vehicle, including details that would decrease the balance owed on the account. Furthermore, I have not received any notice of cancellation of debt ( Form 1099-C ), which is required under federal law if the creditor has canceled or written off the remaining balance.

This lack of transparency and communication further demonstrates Credit Acceptances failure to comply with legal standards and consumer protection laws.

Impact of Inaccurate Reporting The continued presence of this erroneous repossession on my credit report has caused the following issues : Credit Denials : I have been denied credit opportunities, including [ list specific instances, if any ].

Financial Harm : The inability to access credit has caused undue financial hardship and limited my ability to meet essential obligations.

Emotional Distress : The stress and XXXX  caused by this ongoing issue have negatively affected my well-being. 



Relief Requested I respectfully request the CFPB to : 1. Demand Permanent Deletion : Require Credit Acceptance and the credit bureaus to permanently remove this repossession ( Account # 8573 ) from my credit reports.

2. Enforce Compliance : Investigate Credit Acceptance for their failure to provide legally required documentation and their noncompliance with federal laws.

3. Ensure Transparency : Require Credit Acceptance to provide clear and complete documentation, including any notice of sale or 1099-C cancellation of debt, if applicable.

4. Impose Penalties : Pursue appropriate penalties for their willful disregard of FCRA and FDCPA requirements.

Conclusion The actions of Credit Acceptance and the credit reporting agencies involved in this matter reflect a blatant disregard for federal laws designed to protect consumers. Their failure to validate the account, provide necessary documentation, and ensure accurate reporting is unacceptable and has caused significant harm to my financial and emotional well-being.

I trust the CFPB will take swift action to address these violations, uphold my rights as a consumer, and prevent further harm.

Thank you for your attention to this matter. Please feel free to contact me if additional information or documentation is needed. 



Sincerely, XXXX XXXX XXXX XXXX

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