Consumer complaint received 2025-12-14 00:00:00
Product: Vehicle loan or lease — Loan
Issue: Managing the loan or lease — Billing problem
Company: CREDIT ACCEPTANCE CORPORATION
State: TX

Complaint narrative:
As Trust Protector and acting in fiduciary capacity over The XXXX XXXX XXXX, am submitting this formal complaint regarding serious reconciliation failures, accounting irregularities, and commercial dishonor by Credit Acceptance Corporation ( CAC ). These actions constitute multiple violations under XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX standards, and both federal and Texas state laws. These issues arise from CACs handling of a retail installment contract associated with the purchase of a XXXX XXXXXXXX XXXX, originally assigned to me but lawfully transferred into trust. 

CAC has failed to provide a lawful reconciliation of the account after demand and has not acknowledged or returned value derived from the initial financial asset ( the promissory note ), which by commercial and accounting standards qualifies as a financial instrument and security under XXXX XXXX ( Transfers and Servicing ), XXXX XXXX ( Statement of Cash Flows ), XXXX XXXX ( Receivables ), XXXX XXXX ( Financial Services Depository and Lending ), and XXXX XXXX ( Generally Accepted Accounting Principles ). 



Detailed Violations : XXXX. Failure to Reconcile Ledger and Financial Position : CAC did not respond to the formal Notice of Request for Full Reconciliation and XXXX Accounting. 
In violation of XXXX XXXX and XXXX XXXX, XXXX failed to reflect the origination, asset conversion, and servicing entries in double-entry accounting. 
XXXX. Securitization of Note Without Disclosure : The retail installment contract constitutes a financial asset. By all standards under XXXX XXXX and XXXX, its sale/securitization required disclosure, de-recognition, and reconciliation of gain/loss. 
CAC failed to disclose assignment, securitization, or the revenue recognition from the asset as required by XXXX and XXXX guidelines. 
XXXX. Refusal to Accept Draft Tender and Discharge Instrument : CAC failed to respond to a Sight Draft ( Bill of Exchange ) presented for settlement of the alleged obligation. 
This refusal constitutes dishonor under UCC Articles 3 and 4 ( as adopted under Texas Business & Commerce Code ). 
XXXX. Improper Reporting and Collection Activity : Continued collection activity without reconciling account or acknowledging discharge instruments violates FDCPA, FCRA, and XXXX XXXX XXXX XXXX. 
CAC is in violation of XXXX standards requiring fair presentation and disclosure in financial reporting and loan servicing. 
XXXX. XXXX XXXX XXXX XXXX XXXX XXXX XXXX : CAC ignored duly filed XXXX Financing Statement perfecting the Trusts interest in the vehicle. 
Properly executed Declaration of Trust Assignment, Affidavit of XXXX XXXX, and Security Agreement were submitted. 

Documents Submitted to Credit Acceptance Corporation : Notice of Tender and Discharge of Account Bill of Exchange ( Sight Draft ) for {$21000.00} Declaration of Trust Assignment of Vehicle Affidavit of XXXX XXXX and Discharge XXXX Financing Statement ( Filed in Texas ) UCC-3 Amendment XXXX Assignment to Corporate Trustee ) Notice of XXXX Accounting Request and XXXX XXXX XXXX XXXX XXXX XXXX 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