Consumer complaint received 2025-05-04 00:00:00
Product: Credit reporting or other personal consumer reports — Credit reporting
Issue: Improper use of your report — Reporting company used your report improperly
Company: Exeter Finance, LLC.
State: LA

Complaint narrative:
XXXX XXXX XXXX XXXX XXXX XXXX. XXXX XXXX XXXX LA XXXX United States XXXX XXXX XX/XX/XXXX To : Consumer Financial Protection Bureau Exeter Finance LLC XXXX : Office of the President XXXX XXXX XXXX XXXX XXXX XXXX Re : Rebuttal to Exeter Finance LLC Response CFPB Complaint Reference [ Insert if available ] Account Number : XXXX | Vehicle VIN : XXXX To Whom It May Concern, I write to formally rebut the response issued by Exeter Finance LLC ( Exeter ) dated XX/XX/XXXX, regarding my complaint of deceptive refinancing, wrongful credit reporting, and vehicle repossession ( or total loss ) resulting from a transaction mischaracterized by Exeter as a new auto loan. 



1. Misrepresentation of Refinancing Terms Exeter asserts that I entered into a new Note and Security Agreement on XX/XX/XXXX, through XXXX XXXX, which Exeter later acquired. However, at no time was it disclosed to me that this transaction would effectively reset my auto loan as if I were repurchasing the vehicle. This was presented and understood as a refinancenot a new purchase agreement. My original lender, XXXX XXXX XXXX XXXX, closed the loan with a {$0.00} balance, reflecting that all obligations under that loan were satisfied. 



Exeters failure to carry forward the equity, payment history, or prior payoff information constitutes both deceptive lending and a violation of the Truth in Lending Act ( TILA ), which requires clear, conspicuous, and truthful disclosure of loan terms.

2. Refusal to Acknowledge Equity and Prior Payment Record Exeter claims the contract was for the remaining balance owed, yet structured the loan in a manner that erased all prior payments and amortized the vehicle anew, as if I had no ownership stake. This structure imposed an artificial balance and unjust enrichment by double-counting the vehicles value. This is tantamount to asset stripping and a clear violation of the Unfair, Deceptive, or Abusive Acts or Practices ( UDAP ) standards under the Dodd-Frank Act. 



XXXX. Conflicting Statements Regarding Repossession and Total Loss Exeters response states that the vehicle was not subject to repossession but instead declared a total loss following a XX/XX/XXXX, incident. This directly contradicts Exeters previous correspondence and behavior, in which collection and repossession efforts were threatened due to my challenge of the restructured terms. 



If Exeter now claims the vehicle was a total loss, they must produce the following : A full copy of the insurance claim filed, Proof of any deficiency balance allegedly owed after the insurance payout, Documentation showing any right of subrogation or lien enforcement, Clarification on whether Exeter pursued title recovery or abandonment of claim.

Without these, Exeter can not lawfully report a charge-off.

4. Credit Reporting Inaccuracies Exeter asserts that all credit reporting is accurate. However, the information reported conflicts with the closure of the original loan and fails to reflect the unjust loan structure imposed without disclosure. Reporting a charge-off and repossessionor total lossas a default caused unjust and irreparable harm to my credit profile. 



This constitutes a violation of the Fair Credit Reporting Act ( FCRA ), particularly with regard to : Failure to investigate my direct dispute under 15 U.S.C. 1681i, Reporting inaccurate or incomplete information in violation of 1681s-2 ( a ), Failure to correct or delete information once inaccuracies were demonstrated.

5. No Good-Faith Effort to Resolve While Exeter claims they take customer satisfaction seriously, there has been no meaningful offer of resolution, explanation, or remediation. Exeter has not addressed my core allegation : that the refinance was fraudulent in structure and resulted in wrongful enrichment at my expense. 






Demand for Corrective Action : Accordingly, I respectfully reiterate my request that the CFPB and relevant authorities : Investigate Exeter Finance for predatory lending and misrepresentation in the structuring of this refinance transaction ; Order the removal of all negative credit reportingincluding the charge-off and any claim of default ; Require Exeter to account for all funds received from my prior loan, and rectify the equity and payment history that were unjustly erased ; Mandate compensation for the wrongful damage to my credit, and for the loss of vehicle use or title ; Assess regulatory penalties for violations of TILA, FCRA, and UDAP statutes. 




Should Exeter fail to provide documentation to substantiate its claims or refuse to cure the inaccuracies, I will pursue private legal action under FCRA 1681n and 1681o, and I reserve all rights to damages and injunctive relief. 



Sincerely, XXXX XXXX XXXX

Company response to consumer: Closed with explanation