Consumer complaint received 2025-03-23 00:00:00
Product: Credit reporting or other personal consumer reports — Credit reporting
Issue: Incorrect information on your report — Account status incorrect
Company: Bridgecrest Acceptance Corporation
State: SC

Complaint narrative:
XXXXXXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXXXXXX XX/XX/XXXX Bridgecrest XXXXXXXX XXXX XXXX XXXX XXXX XXXXXXXX Re : Formal Dispute of Inaccurate Credit Reporting Bridgecrest Account ( CFPB Complaint ID # XXXX ) To Whom It May Concern : I am writing on behalf of myself, XXXX XXXX XXXX regarding my auto loan account with Bridgecrest ( Account # XXXX ). This letter serves as a formal dispute of the information Bridgecrest is reporting to the credit bureaus about this account. I previously filed a complaint with the Consumer Financial Protection Bureau ( CFPB ), identified as Complaint ID # XXXX, in which I outlined these issues. In Bridgecrests response to that CFPB complaint, your company claimed that the credit reporting on this account was accurate. However, the information currently appearing on my credit reports remains incorrect and inconsistent, and I am providing evidence to substantiate my dispute. I request that Bridgecrest re-investigate this matter and remove the erroneous repossession-related account entry from my credit reports immediately. 

Screenshot from XXXX XXXX XXXX XXXX report ) showing the Bridgecrest account with a {$10000.00} balance and indicating 62 % of the loan remaining, despite the loan being closed. 
As evidence of the inaccurate reporting, I have attached a recent screenshot of my XXXX credit report ( as shown via XXXX XXXX ) highlighting the Bridgecrest account details. This report displays that I supposedly owe a balance of {$10000.00} on this account and even indicates that 62 % of the loan remains unpaid, despite the loan being closed on XX/XX/XXXX. Clearly, if the loan was closed and either paid off or charged off as of that date, it should not still reflect such a large outstanding balance. The fact that the account is listed with a significant remaining balance post-closure is an obvious error in reporting. 

Screenshot from XXXX XXXX showing the accounts status as In Repossession and Derogatory with a repossession remark, even though the account is closed. 
Additionally, the credit report excerpt shows that the accounts current payment status is marked In Repossession, and the account status is listed as Derogatory with a remark of Repossession. This means the account is being portrayed as still active or open in a repossession status, which is clearly incorrect, given that the vehicle was repossessed and the account was closed as of XX/XX/XXXX. An account that was closed four years ago should not have a current status indicating an ongoing repossession or any unpaid balance. Such an inconsistency in reporting a closed account reported as if it were open and in repossession is patently false and is causing significant damage to my creditworthiness. 

This situation is not only unacceptable to me personally, but it is also unlawful under federal law. The Fair Credit Reporting Act ( FCRA ) requires that furnishers of information to credit bureaus report only accurate and up-to-date information. In fact, 15 U.S.C. 1681s-2 ( a ) explicitly prohibits any company from furnishing information to a credit reporting agency that it knows or has reasonable cause to believe is inaccurate. Now that I have alerted Bridgecrest to these obvious inaccuracies, your company is on notice that the information being reported is incorrect. Continuing to report this account in its present, false state would constitute a knowing violation of the FCRA. I urge you to take this matter seriously and promptly correct the reporting to comply with the law. 

Furthermore, if Bridgecrest believes there is any remaining balance owed on this account ( often referred to as a deficiency balance following the repossession ), please consider this letter as a formal dispute of that debt under the Fair Debt Collection Practices Act ( FDCPA ). I request validation of the debt in question, as is my right. This means I expect verification and documentation of the alleged remaining balance, including but not limited to : a copy of the original loan agreement, a full payment history, an explanation of how the balance was calculated, and any documents evidencing that I am legally obligated to pay that amount. Until such validation is provided, any continued collection efforts or negative credit reporting on this disputed debt is unlawful. Please be advised that continued collection or reporting of a disputed, unvalidated debt is a violation of the FDCPA and FCRA. 

In addition, I request that Bridgecrest provide proof that all legal requirements surrounding the repossession of the vehicle were fulfilled. Under South Carolina law and UCC Article 9, a creditor can not pursue or report a deficiency from a repossession unless all required notices were properly and timely sent and the collateral ( vehicle ) was sold in a commercially reasonable manner. To that end, please provide the following documentation ( if not already included in the debt validation requested above ) : 1. Copies of all legal notices related to the repossession of the vehicle. This includes any Notice of Default, Notice of Repossession, Notice of Intended Disposition/Sale of Collateral, and Post-Sale Notice of Deficiency ( if a deficiency notice was sent ). These notices are required by law to ensure I was informed of my rights to cure the default, redeem the vehicle, and was notified of any sale. 
2. Documentation of the sale of the repossessed vehicle demonstrating a commercially reasonable sale. Please provide records such as the date and method of sale ( e.g. auction ), the sale price, and any supporting evidence that the vehicle was sold for fair market value. Under the UCC and state law, the creditor must make a good-faith effort to obtain a fair price ; otherwise, any claimed deficiency may be invalid.

3. Validation of the remaining deficiency balance ( if any ) after the sale, including a detailed calculation showing how the balance of {$10000.00} was determined. This should reflect the original loan balance, credits from the sale of the vehicle, and any fees or interest added. Essentially, I am asking for a complete payment history and itemization of the debt to ensure its accuracy. 

Providing the above documents will help substantiate whether the debt and the credit reporting are legitimate. If Bridgecrest can not produce these records, it will indicate that the debt is not verified or that proper procedures were not followed, and therefore any balance should not be reported or collected. I remind you that I am entitled to these documents and that failure to provide them within a reasonable timeframe will be considered an additional violation of my rights. 

At this time, I demand that Bridgecrest immediately instruct all consumer reporting agencies ( XXXX, XXXX, and XXXX ) to remove this account from my credit reports or, at the very least, correct the information to reflect the truth ( which would be no ongoing balance and no active repossession status ). Given the blatant inaccuracies and the harm they are causing, a full removal of the tradeline is warranted and requested. Simply marking the item as disputed in my credit file, while necessary, is not a sufficient solution the underlying incorrect data must be deleted. The continued presence of this incorrect repossession entry is a serious issue that must be rectified immediately to avoid further harm to me. 

Please treat this letter as a notice of dispute under FCRA and a request for validation under FDCPA. I expect a thorough re-investigation of the account and correction of the reporting across all credit bureaus. Kindly provide a written response acknowledging this dispute and detailing the actions Bridgecrest will take to resolve it. I request that you complete your investigation and respond within 30 days of receiving this letter, which is a timeframe consistent with the FCRAs requirements for resolving disputes. 

If this matter is not fully resolved to my satisfaction within 30 days, I am prepared to take further action. Such action may include, but is not limited to, filing additional complaints with the CFPB, the Federal Trade Commission, and the South Carolina Attorney Generals Office, as well as pursuing legal action against Bridgecrest for violations of the FCRA and FDCPA and any other applicable laws. I sincerely hope that escalation will not be necessary, and that Bridgecrest will resolve this issue responsibly and in compliance with the law. 

Thank you for your prompt attention to this important matter. I trust that Bridgecrest will do what is legally and ethically required by correcting its reporting and providing the requested validations. I will look forward to your response confirming that this inaccurate account has been removed from my credit reports and that you have mailed me the documentation requested. 

Sincerely, XXXX XXXX XXXX XXXX XXXX XXXX XXXX, SC XXXX

Company response to consumer: Closed with explanation