Consumer complaint received 2024-01-02 00:00:00
Product: Vehicle loan or lease — Loan
Issue: Struggling to pay your loan — Denied request to lower payments
Company: American Credit Acceptance, LLC
State: TX

Complaint narrative:
I bought a car from XXXX in Florida a XXXX XXXX XXXX in XXXX and the financing was taken over by American Credit Acceptance ( ACA ). However, I believe that ACA has violated my rights under various laws such as 15 U.S.C 1681 Section 602, Texas Finance Code, Section 348.104, Consumer Protection Act, Equal Credit Opportunity Act, FAIR Act, and the CFPB. They have charged me a high-interest rate of 26.80 %, which is 2 % above the maximum allowed interest rate of 24 % under the Texas Finance Code, Section 348.104. This has caused significant financial harm to me and my family. I feel that I have been discriminated against because of my gender and race, as I have been treated unfairly and assumed to be ignorant of my consumer rights. 
I have reached out to multiple people at ACA about my high-interest rate and unfair treatment, but they have not responded or provided any assistance. I have made arrangements to pay my debt despite my hardship from frequent unemployment while practically begging for a lower interest rate or monthly payments, I have requested payment extensions and lower payments and deferments during the few times I contracted XXXX as I am a XXXX XXXX  which made me a XXXX XXXX  and all I get is " We appreciate your service but we can not offer an extension or lower payments '' and I have requested an updated contract reflecting the amended arbitration laws under the FAIR Act H.R. 2953 on numerous occasions both written and verbally but they continue to threaten me, Instead! I have been threatened with repossession repeatedly via phone in frequencies of what seems like every single day. When I call in to check on the status of my complaint I am harrassed and threatened with repossession and garnishment while assuring that I would be contacted regarding my complaint and concerns, but they have failed to do so. I have received no response or assistance from ACA and it has been over 30 days, it has been over 30 months but I have only now decided to take matters up with those that are concerned with fairness and Justice. 

My XXXX XXXX XXXX has been totaled due to a recent accident, which ACA is aware of. However, I am not being approved for any loans to repair the vehicle, nor am I being approved by dealerships to acquire another vehicle. I have even been denied by a car rental agency due to the derogatory marks on my credit report partly due to the erroneous violating transaction via ACA and myself, which is not allowed to be furnished on my credit report. As a result, I have been unable to maintain employment, which continues to lead to a dark road of financial ruin. 

Despite all this, American Credit Acceptance has informed me that they could not help me in any way due to an apparent delinquent account, commencing to inform me that my next payment is due on the 10th despite my documented disputes. I have also asked ACA to verify the authorization from me supposedly granting them consent to furnish my nonpublic private information to non-affiliates, but they have not responded. I believe that ACA 's actions have ruined my credit and caused significant financial distress and harm to my family. I am seeking resolution and fair treatment under the aforementioned laws.

Company response to consumer: Closed with explanation