Consumer complaint received 2024-07-05 00:00:00
Product: Credit reporting or other personal consumer reports — Credit reporting
Issue: Improper use of your report — Reporting company used your report improperly
Company: CREDIT ACCEPTANCE CORPORATION
State: IN

Complaint narrative:
-- - **Consumer Financial Protection Bureau Complaint** **Subject : Unauthorized 30-Day Late Payment Reporting by Credit Acceptance Corporation ( CACC ) ** **To Whom It May Concern : ** I am writing to file a formal complaint against Credit Acceptance Corporation ( CACC ) regarding their incorrect reporting of a 30-day late payment on my account. This complaint encompasses several violations and demands immediate correction of my credit report, as well as compliance with various laws and contractual obligations. 

**Complaint Details : ** XXXX. **Incorrect Late Payment Reporting : ** - I have never been late on my payments. I made a payment last week as per the agreed schedule and have consistently adhered to all payment arrangements. The 30-day late payment report is false and has negatively impacted my XXXX XXXX. 

XXXX. **Payment in Lawful Tender : ** - I have made payments using lawful tender and have provided a XXXX form accepted by the IRS, indicating that the debt has been settled. Despite this, CACC continues to report incorrect information. 

XXXX. **Investor and POA Status : ** - As an investor in CACC XXXX with POA over this account, my trust, Melaninnation Living Trust , owns this property. I have repeatedly requested CACC to retitle my account to my trust but have faced continuous pushback. This is a clear violation of their fiduciary duty and contractual obligations. 

XXXX. **Administrative Process : ** - We are currently in an administrative process where I hold fiduciary responsibility over this account. CACC is in violation of their duty as a security transfer agent. Their actions constitute securities fraud, breach of contract, consumer law violations, and privacy act violations. 

XXXX. **Contractual Violations : ** - According to the contract, I have the right to make changes within 30 days. This contract is fraudulent as my security interest was taken away without consent. I have submitted notarized documentation revoking their security interest and reinstating mine ( 80 % me, 20 % them ), as per the law. 

XXXX. **Failure to Provide Consideration : ** - I was promised a Money Purchase Loan but have not received anything of value. This is a breach of merchant law regarding value of consideration. 

XXXX. **Lack of Privacy Notice : ** - CACC has failed to provide a privacy notice or an option to opt-out as required by law. According to 12 CFR 1016.1 and 12 CFR 1016.4, they are obligated to provide notice about their privacy policies and practices. Their contract vaguely states they " may '' report without informing me in writing of my right to opt-out. 

XXXX. **Securitization and Transfer Violations : ** - CACC XXXX subsidiary companies are involved in unauthorized transfers and trades of the Money Purchase Loan. This involves multiple entities, including : - Credit Acceptance Corporation - Trust Collateral Agent and Indenture Trustee - Computershare Trust Services - Credit Acceptance Auto Loan Trust **Legal References : ** - **15 USC 1681a** : This transaction can not be included in my consumer report. 
- **12 CFR 1016.1 & 1016.4** : CACC owes me a privacy notice and the right to opt-out.

**Resolution Sought : ** - Immediate correction of my credit report to reflect accurate payment status ( " Paid as Agreed '' ). 
- Compliance with all privacy and contractual obligations, including providing a privacy notice and the right to opt-out. 
- Formal acknowledgment of my POA status and retitling of the account to Melaninnation Living Trust.

- Compliance with all relevant laws and correction of all violations listed above. 
Also I transferred their obligation back to them as per the transferee of the purchase money loan. 

**Company Information : ** - **Credit Acceptance Corporation** - **Commission Number** : XXXX - **IRS Employer Identification Number** : XXXX - **Address** XXXX XXXXXXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXXXXXX - **Subsidiary Contacts** XXXX XXXX XXXX XXXX XXXX XXXX XXXXXXXX XXXX XXXX XXXX - **Phone** : ( XXXX ) XXXX I have all supporting documentation, including notarized letters and contractual agreements, ready to provide upon request. 

Thank you for your prompt attention to this matter.

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