Consumer complaint received 2025-09-25 00:00:00
Product: Vehicle loan or lease — Loan
Issue: Repossession — Deficiency balance after repossession
Company: TRUIST FINANCIAL CORPORATION
State: WI

Complaint narrative:
XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXXXXXX XXXX XXXX XXXXXXXX XXXX Date : XX/XX/XXXX Consumer Financial Protection Bureau XXXX. XXXX XXXXXXXX XXXX XXXX XXXX XXXXXXXX Subject : Formal Complaint and Dispute Regional Acceptance Corporation Reporting Dear CFPB, I am filing this complaint against Regional Acceptance Corporation regarding the inaccurate and misleading reporting of an auto loan account on my credit reports. 

Account Information : Creditor : Regional Acceptance ( REGIONALAC ) Account Number : [ Insert Last XXXX Digits of Account ] Date Opened : XX/XX/XXXX Reported Balance : {$22000.00} ( as of XX/XX/XXXX ) Highest Balance : {$26000.00} Loan Term : XXXX  months ( XXXX years ) Basis of My Complaint XXXX. Loan Term Expired, Yet Still Reporting Late Payments : This account was opened in XX/XX/XXXX with a 72-month ( XXXX-year ) loan term, meaning it should have ended in or around XX/XX/XXXX. 
Despite this, Regional Acceptance continues to report late/missed payments every month through XXXX and XXXX. 
This is inaccurate and misleading, as there should be no valid contractual payment obligations beyond the original term. 
XXXX. Improper Balance Reporting After Charge-Off : If this account has been charged off, then it should not continue to accrue or update balances each month. 
A charged-off account is considered closed from an accounting standpoint, and continuously updating the balance misrepresents the true nature of the debt. 
XXXX. Statute of Limitations ( XXXX  ) : In the state of Wisconsin, the statute of limitations on installment loans and written contracts is XXXX  years. 
Since this account originated in XXXX and went delinquent years ago, it appears to be beyond the statute of limitations for legal collection activity. 
Regional Acceptances continued monthly reporting of delinquencies past this limit creates the false impression that this account is legally enforceable, when in fact it may not be. 
XXXX. Fair Credit Reporting Act ( FCRA ) Violations : Under the FCRA, furnishers must ensure that information reported to credit bureaus is accurate, complete, and not misleading. 
Reporting new late payments on a loan after its contract expiration date, and updating balances after charge-off, constitutes inaccurate and misleading reporting. 
XXXX. Failure to Provide Clarity on Debt Status : If the debt was forgiven or written off, I should have received a Form 1099-C ( Cancellation of Debt ), which has not been provided.

If the debt is still being reported as valid, Regional Acceptance must explain how they are legally allowed to report payments due beyond the loans XXXXmonth contract term. 



Requested Relief I respectfully request that the CFPB : XXXX. Investigate Regional Acceptance Corporations reporting practices regarding this account. 
XXXX. Require Regional Acceptance to correct or remove any inaccurate reporting from my credit file. 
XXXX. Ensure that if this account is charged off, no further balances are updated or reported, and proper tax documentation ( Form 1099-C ) is issued if applicable. 
XXXX. Confirm that negative reporting does not continue beyond the original loan term or beyond XXXX statute of limitations. 



Thank you for your assistance in resolving this matter. I am attaching supporting documentation, including screenshots of the account reporting from my credit monitoring service. 

Sincerely, 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