Consumer complaint received 2025-08-21 00:00:00
Product: Vehicle loan or lease — Loan
Issue: Repossession — Notice to repossess
Company: CREDIT ACCEPTANCE CORPORATION
State: GA

Complaint narrative:
I am filing this formal complaint against Credit Acceptance Corporation ( CAC ) for serious violations of the Fair Credit Reporting Act ( FCRA ), Fair Debt Collection Practices Act ( FDCPA ), Truth in Lending Act ( TILA ), IRS regulations, UCC law, and potential SEC-related securities issues.

First, CAC is falsely reporting a repossession as a foreclosure monthly on my credit report a categorically incorrect and damaging classification under XXXX XXXX guidelines. This inaccurate and defamatory misreporting has been allowed to persist since around XXXX and was only discovered when I applied for credit and was denied due to this foreclosure listing. 

I was never provided any notice of repossession, auction, or sale of the vehicle. I was not told who picked it up, where it would be sold, how much it sold for, or whether I had a right to redeem it. I received no sale documents, receipts, post-sale accounting, deficiency explanation, or IRS 1099-C cancellation of debt.

My account history reflects inconsistent and misleading data : My actual last payment was XX/XX/XXXX, yet reports show " Last activity '' as early as XX/XX/XXXX and as late as XX/XX/XXXX. Explain why a closed account is reflecting and increasing a " high balance of {$6600.00} '' closed accounts should not have a balance. 

Despite being closed, the account continues reporting monthly with new negative updates, falsely impacting my score and resulting in ongoing harm. 

I was never informed of any right to opt out of electronic contracting, data sharing, post-default actions, securitization, or assignment. I signed dealership documents under pressure during the COVID-19 pandemic, without receiving or being shown any TILA disclosures or contract terms in full. 

To protect my rights, I filed a UCC-1 Financing Statement on XX/XX/XXXX ( XXXX XXXX XXXXXXXX ), XX/XX/XXXXXXXX XXXX XXXX XXXX XXXX XXXXXXXX ), and Georgia Continuation Statement, asserting myself as Secured Party and Creditor . I also submitted notarized filings through the XXXX XXXX XXXX including : Affidavit of Status as Secured Party and Creditor Power of Attorney in Fact Common Law Copyright Notice Fee Schedule These filings were made before CAC repossessed the vehicle, meaning they acted without lawful standing or lien ownership. They never responded to these filings or provided proof of lien retention. 

Additionally, CAC 's own SEC 8-K filings reveal participation in securitized warehouse lines, raising serious questions about whether they had legal authority to repossess or report the account after transferring interest to investors. If the loan was securitized, they acted as a servicer, not a creditor and without proof of lien, they had no authority to repossess. 

Their continued monthly reporting of an F=Foreclosure status was done with knowledge that it would cause maximum damage. I believe this was intentional and predatory. Their failure to correct their data after years of dispute shows willful disregard for federal law and consumer protections.

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