Consumer complaint received 2025-12-21 00:00:00
Product: Debt collection — Auto debt
Issue: Written notification about debt — Didn't receive notice of right to dispute
Company: PRANCER CAPITAL CORP
State: NC

Complaint narrative:
I am filing this complaint against Prancer Capital Corp for multiple material inaccuracies being reported on my consumer credit file, including misclassification of a voluntary surrender as an involuntary repossession, failure to provide redemption rights, false payment reporting, and continued reporting of the account as OPEN despite the vehicle being surrendered and not in my possession for over a year.

Despite repeated disputes with the credit reporting agencies and direct communications with XXXX XXXX, the company continues to verify this inaccurate information as accurate, in violation of the Fair Credit Reporting Act ( 15 U.S.C. 1681 ).

Detailed Violations 1. Repossession Status Is Inaccurate XXXX XXXX reports this account as an Involuntary Repossession, which is false. 

I voluntarily surrendered the vehicle. 

I coordinated surrender directly with XXXX XXXX via multiple phone conversations. 

The vehicle was left at XXXX XXXX XXXX XXXX, where it remained for approximately two months before XXXX XXXX retrieved it. 

There was no forced repossession, no towing, no seizure, and no breach of peace.

This reporting is materially inaccurate and misleading.

2. Failure to Provide Redemption Rights I was never provided a Notice of Right to Redeem, Notice of Intent to Sell, or any required post-repossession disclosures.

No written notice was mailed or electronically delivered.

No opportunity to reinstate or redeem the vehicle was provided.

This omission violates consumer protection and repossession notice requirements and renders the tradeline unreliable. 

3. False Payment Reporting XXXX XXXX is reporting that I made a payment on this account. 

I never made a payment to XXXX XXXX. 

There is no authorization, cleared payment, or proof of funds. 

Reporting a payment that never occurred is a material FCRA violation. 

4. Improper Delay in Vehicle Retrieval Despite my cooperation, XXXX XXXX delayed retrieval of the vehicle for nearly two months after surrender.

This delay : Artificially inflated the balance Created inaccurate deficiency reporting Further undermines the accuracy of the account 5. Deceptive XXXX Conduct & Lender Knowledge I was misled by the dealership regarding a 3-day return policy advertised on their website.

When I attempted to return or exchange the vehicle, the dealership refused.

I requested a collateral exchange, which was denied. 

XXXX XXXX later claimed ignorance of these representations, despite the advertisement being publicly listed at the time of sale. 

As the financing entity, XXXX XXXX can not disclaim responsibility for dealer representations used to induce the loan. 

6. Account Improperly Reported as OPEN Prancer Capital continues to report this account as OPEN, despite the fact that : I have not had possession of the vehicle for over a year.

The dealership has confirmed the surrender and lack of possession.

The collateral no longer exists in my control, and the account should reflect closed, charged off, or otherwise properly classified post-repossession.

Reporting an account as OPEN under these circumstances is materially misleading, inflates my open auto obligations, and damages my creditworthiness.

Violations Cited 15 U.S.C. 1681e ( b ) Failure to ensure maximum possible accuracy 15 U.S.C. 1681s-2 ( b ) Failure to conduct a reasonable investigation False repossession classification False payment history Failure to provide required redemption notices Improper account status reporting

Company response to consumer: Closed with explanation