Consumer complaint received 2026-05-13 00:00:00
Product: Vehicle loan or lease — Loan
Issue: Problem with a company's investigation into an existing problem — Their investigation did not fix an error on your report
Company: American Finance LLC
State: SC

Complaint narrative:
I am submitting this complaint regarding American Finance LLC and the continued furnishing and reporting of disputed and potentially inaccurate information relating to an auto loan account that was charged off following repossession. I have repeatedly disputed this account and requested competent documentation substantiating the balance calculations, furnishing practices, and reporting associated with this account. Despite these requests, the responses provided have been incomplete and/or insufficient. The company provided only an internally generated Explanation of Calculation of Deficiency rather than actual documentary evidence supporting the repossession sale and resulting deficiency balance. Specifically, I have not been provided : an auction bill of sale, buyer documentation, auction settlement records, proof of commercially reasonable sale, proof of proceeds distribution, or documentary substantiation supporting the stated sale amount and deficiency calculations. The deficiency explanation references sale proceeds of {$1900.00} and a resulting deficiency balance of {$5000.00}, yet no independent sale documentation or accounting records were supplied and unfortunately, this is essentially hearsay and without proof this could be documented to say anything. Additionally, the account history reflects repeated XXXX/XXXX charges and fees. I have requested documentation substantiating : the basis for force-placed insurance charges, the methods used to determine insurance coverage status, and documentation verifying the validity and calculation of those charges. To date, sufficient documentation has not been provided. I also dispute the accuracy and completeness of the furnishing and reporting of this account to consumer reporting agencies, including but not limited to : inaccurate original loan amount reporting, concerns regarding balance calculations, inconsistent reporting across consumer reporting agencies, inaccurate or inconsistent date reporting, failure to consistently and accurately report the account as disputed despite prior disputes, and concerns regarding the adequacy of the investigation performed after prior disputes. Further concerns exist regarding post-judgment balance handling and reporting accuracy. A default judgment was allegedly entered in XXXX ; however, questions remain regarding the continued calculation and furnishing of balances and interest associated with this account. The balance being reported has continued to increase over time despite the account nearing obsolescence and despite repeated requests for validation and clarification of the accounting supporting the reported balance. Additionally, while the company eventually provided a transaction ledger reflecting a repossession sale credit, the ledger itself is extremely fragmented, confusing, and difficult to independently audit or verify. The accounting contains layered adjustments, reversals, recurring fees, XXXX charges, and irregular sequencing of entries that make it difficult for a consumer to reasonably determine how balances, interest, fees, and principal were calculated and applied over time. The records provided do not constitute clear documentary substantiation sufficient to independently verify the accuracy of the alleged deficiency balance, post-sale calculations, interest accruals, or ongoing reporting being furnished to consumer reporting agencies. Even when reviewed by a CPA, the methods of accounting by American Finance he considered to be, " concerning ''.

Company response to consumer: Closed with explanation