Consumer complaint received 2025-02-08 00:00:00
Product: Vehicle loan or lease — Loan
Issue: Getting a loan or lease — Problem with signing the paperwork
Company: Larry H. Miller Group of Companies
State: MD

Complaint narrative:
I am submitting a formal complaint against Prestige Financial Services for multiple violations, including : Unlawful collection of single interest charges before the loan due date Discrepancies between my signed contract and Prestiges version of the contract Failure to investigate VIN cloning and odometer tampering Failure to verify income before loan approval Misrepresentation of APR Illegal collection attempts during an unresolved billing dispute 1. Prestige Financial Charged Single Interest from the Date of Purchase Without Disclosing It in the Contract I purchased the vehicle on XX/XX/year> and was told my first payment was due on XX/XX/year>. 
Despite this, Prestige Financial has charged me interest from the purchase date, meaning I was forced to pay additional interest before my first due date. 
This term is NOT disclosed anywhere in my contract.

The Truth in Lending Act ( TILA ) requires full disclosure of all finance charges ( 12 CFR 1026.17-18 ), yet Prestige failed to inform me of this predatory interest accumulation.

2. My Signed Contract Differs from the One Prestige Has on File I have a signed contract, but Prestige sent me a version with key differences that says it is a copy of electronic customer contract. I never signed anything electronically. 
The contract they claim is valid lists XXXX as the creditor, not Prestige.

Prestige refuses to provide an explanation for these discrepancies. 
A loan agreement with conflicting versions suggests contract fraud, which violates state and federal consumer protection laws. 
XXXX. VIN Cloning Discovered Prestige is Attempting to Collect on a Fraudulent Loan I have verifiable proof that my vehicles VIN was cloned, which means the car sold to me is not legally what was represented. 
Despite notifying Prestige of this federal crime ( 18 U.S. Code 1029 & 511 ), they continue to attempt collection. 
A financial company can not collect on an asset that is legally invalid. 
4. Prestige Approved the Loan Without Verifying My Income, Despite My Submission of Correct Financial Information The dealership falsified my income and rent amount on the finance application to push loan approval.

I submitted my correct proof of income, but Prestige ignored it and approved the loan based on fraudulent financial data.

This violates the Equal Credit Opportunity Act ( ECOA ) ( 15 U.S.C. 1691 ), which requires lenders to verify financial information before approving credit.

5. APR Misrepresentation False Loan Terms My contract states an APR of 24 %, but calculations show I am actually being charged 24.48 %. 
Prestige has failed to provide an accurate breakdown of how my payments are applied.

This constitutes TILA violations ( 12 CFR 1026.17 & 1026.18 ), which require accurate APR disclosure.

6. Illegal Collection Attempts During an Active Billing Dispute On XX/XX/year>, I sent a formal billing error dispute to Prestige regarding the falsified APR, VIN cloning issue, and fraudulent finance application. 
Prestige acknowledged receipt on XX/XX/year>, but continued aggressive collection attempts. 
Despite the ongoing dispute, Prestige has sent daily text messages, harassing me for payment.

TILA Regulation Z ( 12 CFR 1026.13 ) prohibits collection efforts while a billing dispute is unresolved.

7. Unfair Debt Collection Practices Harassment and Threats Prestige has continued to pressure me for payments despite ongoing fraud concerns. 
They threatened to report me as delinquent to credit bureaus, despite the fact that the loan itself is based on fraudulent information. 
This violates the Fair Debt Collection Practices Act ( FDCPA ) ( 15 U.S.C. 1692c & 1692g ), which prohibits harassing collection practices.

Applicable Legal Violations by Prestige Financial Services 1. Truth in Lending Act ( TILA ) Regulation Z ( 12 CFR 1026.13, 1026.17, 1026.18 ) Illegally charged undisclosed single interest from the purchase date. 
Misrepresented APR ( contract states 24 %, but actual APR is 24.48 % ). 
Demanded payments while an active billing dispute is unresolved. 

2. Fair Debt Collection Practices Act ( FDCPA ) 15 U.S.C. 1692c & 1692g Harassment through repeated collection attempts despite my dispute.

Threatened negative credit reporting on a disputed loan.

3. Equal Credit Opportunity Act ( ECOA ) ( 15 U.S.C. 1691 ) Loan approved without verifying my proof of income.

4. Federal VIN Cloning Laws 18 U.S. Code 1029 & 511 Loan was issued for a vehicle with a cloned VIN.

5. Consumer Financial Protection Bureau ( CFPB ) Rules Illegal collection of payments on a fraudulent loan. 
Failure to provide correct financial records. 
Continual to ignore the proof of financial fraud committed by the dealership which is a breach of contract.

Company response to consumer: Closed with explanation