Consumer complaint received 2024-11-17 00:00:00
Product: Vehicle loan or lease — Loan
Issue: Managing the loan or lease — Billing problem
Company: American Credit Acceptance, LLC
State: FL

Complaint narrative:
Consumer Financial Protection Bureau ( CFPB ) Complaint Against American Credit Acceptance LLC and XXXX XXXX XXXX, XXXX for Billing Errors, Non-Compliance with Securities Laws, and Breach of Fiduciary Duty XXXX XXXX Email : XXXX XXXX XXXX XXXX XXXX, XXXX XXXX XXXX FL I am filing this complaint regarding a billing error for account number XXXX, failure to process payments properly, and non-compliance with legal obligations by American Credit Acceptance LLC ( ACA ) and XXXX XXXX XXXX XXXX XXXX ( XXXX ), as the indenture trustee. These failures pertain to payments owed to me as a noteholder under the terms of the trusts prospectus and other governing documents. 
Despite repeated attempts to resolve these issues directly with the parties involved, including submission of payments through valid instruments, my concerns remain unaddressed. 
Specific Complaints and Legal Violations Non-Payment of Principal and Interest According to ACA Receivables prospectus ( TXXXX XXXX XXXX XXXX XXXX  ), XXXX XXXX XXXXXXXX I am owed payment of principal and interest as a noteholder. These payments have not been made as required, constituting : Breach of Contract under state and federal laws. 
Violation of the Trust Indenture Act of 1939, Section 315 for failure to fulfill fiduciary duties to noteholders.

Securities Fraud under SEC Rule 10b-5, as the failure to adhere to the terms constitutes misleading and fraudulent practices. 
2. Improper Handling of Payments Submitted I submitted payments through a 1099-A and special indorse instruments accompanied by proper documentation noterized and sent via certified mail ( tracking numbers : XXXX, XXXX, XXXX, XXXX, XXXX ). These payments comply

with : UCC 3-604, which discharges debt upon tender of payment. UCC 3-603, mandating cessation of collection activities upon tender. 
Despite this, XXXX and American Credit Acceptance has failed to credit my account or provide the necessary documentation, leaving my account inappropriately unresolved. 
3. Lack of Transparency and Reporting The trustee has not provided accurate or timely reports regarding payments, as required under : Trust Indenture Act of 1939, Section 315 ( b ), which obligates the trustee to report all relevant payment information to noteholders.

4. Improper Exercise of Authority Over Vehicle-Related Agreements I have also revoked all security interests, liens, and monitoring rights related to my vehicle, a XXXX XXXXXXXX XXXX ( VIN : XXXX ). Both ACA and XXXX continue to assert rights in violation of : Truth in Lending Act ( TILA ), for failing to provide accurate disclosures and transparency in their actions. 
I request the following actions : Immediate payment of all amounts owed, including principal and interest to the noteholder until the notes outstanding principle balance has been reduced to XXXX, per the prospectus terms. 
Proper crediting of my account with a statement of the principal reflecting a XXXX balance. 
Documentary evidence according to GAAP ( Generally Accepted Accounting Principles ) and transparency regarding all transactions and balances on the account including XXXX  number. 
Termination of any unauthorized actions or claims over my vehicle and associated agreements such as. Revocation of Security Interest and Right to Repossess, Revocation of Power of Attorney, Revocation of Tracking and Monitoring Equipment, Rights to Parts, Goods, Proceeds, and Associated Contracts, and Revocation of Rights to Insurance Proceeds and Refunds. 
Provide the original signed contracts and any documentation proving the debt. Additionally, please ensure that all documents include my wet signature for verification purposes. 
If this matter is not resolved promptly, I intend to : Escalate the issue to the SEC, IRS, and OCC. 
Pursue arbitration under XXXX rules. 
Report potential securities violations as a whistleblower. 
Supporting Documents I am prepared to provide the following upon request : Certified mail receipts for submitted payments. 
Copies of the 1099-A and promissory note documentation. 
Correspondence records with ACA and XXXX. 

Sincerely, XXXX XXXX XXXX : XXXX Address : XXXX XXXX XXXX XXXX XXXX XXXX XXXX FL

Company response to consumer: Closed with explanation