Consumer complaint received 2024-02-06 00:00:00
Product: Vehicle loan or lease — Lease
Issue: Repossession — Account reinstatement or redemption after repossession
Company: AMERICAN HONDA FINANCE CORP
State: NJ

Complaint narrative:
I have attempted several times through register mail filed XXXX forms to collect my principal and security interest from AHFC with no response for my 3 vehicles dating from XXXX Per AHFC Prospectus and indentured agreement. I have file on XXXX separate occasions dating as far back as XX/XX/XXXX and XX/XX/XXXX. 
AHFC is the Issuer of the debt security and has all obligation ; there is a principal payment, a security interest and my authorized signature that allows the debt at all possible. Nowhere in the contract, the indentured agreement nor the prospectus does it Ask, Request or Demand any form of payment in the form of Federal Reserve Notes. Yet AHFC has been receiving them from me since XXXX. I demand all FEDERAL RESERVE NOTES to be returned to me as well as the principal and security interest. The obligation is solely that of AHFC. In accordance with the Security Exchange Act 1934. 
This information comes from information comes from American Honda Financial Corporation PROSPECTUS We have not authorized any person to provide you with any information other than the information contained or incorporated by reference in this prospectus and the applicable prospectus supplement and any related free writing prospectus issued or authorized by us. We take no responsibility for, and can provide no assurance as to, any other information. We are not making an offer to sell the debt securities in any jurisdiction where the offer, solicitation or sale is not permitted or in which the person making such offer, solicitation or sale is not qualified to do so or to anyone to whom it is unlawful to make an offer, solicitation or sale. You should not assume that the information contained in or incorporated by reference in this prospectus and the applicable prospectus supplement, and any related free writing prospectus is representative as of any date other than their respective dates. Our business, financial condition, results of operations, cash flows, prospects and other information may have changed since those respective dates. " The debt securities will be issued in one or more series under an indenture, dated as of XX/XX/XXXX, between AHFC and XXXX XXXX XXXX XXXX XXXX, as trustee, as supplemented by the first supplemental indenture, dated as of XX/XX/XXXX, between AHFC and XXXX XXXX XXXX XXXX XXXX, as trustee. References herein to the Indenture refer to such indenture, as supplemented, and references to the Trustee refer to such trustee or any other trustee for any particular series of debt securities issued under the Indenture. The terms of the debt securities of any series will be those specified in or pursuant to the Indenture and in the applicable debt securities of that series and those made part of the Indenture by the Trust Indenture Act of XXXX, as amended, or the Trust Indenture Act ''. The debt securities will be obligations solely of AHFC and will not be obligations of, or directly or indirectly guaranteed by, XXXX or any of its other affiliates or any other entity. The XXXX-AHFC Keep Well Agreement ( as defined below under Keep Well Agreement ) entered into between AHFC and XXXX is not a guarantee by XXXX  of the payment of any indebtedness, liability or obligation, including the debt securities described in this prospectus, of AHFC. If specified in the applicable prospectus supplement for a particular series of debt securities, such debt securities will have the benefit of the XXXX-AHFC Keep Well Agreement described below under Keep Well Agreement. We will use the proceeds that we receive from the sale of debt securities to repay other existing indebtedness, to acquire retail loans or retail leases and provide wholesale flooring and commercial loans or for other general corporate purposes unless the applicable prospectus supplement states otherwise. Pending such applications, such proceeds may be temporarily invested in short-term marketable securities. 
Also, during this process, I submitted Several ACCORD AND SATISFACTION in the form of Postal money order in good faith 12 CFR 1002.2 ( r ) Good faith means honesty in fact in the conduct or transaction. Which have written statements on them along with these UCC 3-311/3-603/HJR-192/UCC 3-419/UCC1-308 in which AMERICAN HONDA FINANCE COMPANY has refused to accept without proof of why they didn't accept . AHFC then repossessed claiming that I owed them. I did not give AHFC to give out my PERSONAL INFORMATION TO ANYONE. Which could have put me in serious danger. Then AHFC has " assigned '' the debt to a collection agency which is in violation under 12 CFR - PART 1016PRIVACY OF CONSUMER FINANCIAL INFORMATION ( REGULATION P ) Providing my personal information without my consent. 1016.4 Initial privacy notice to consumers required.

( a ) Initial notice requirement. You must provide a clear and conspicuous notice that accurately reflects your privacy policies and practices to : ( 1 ) Customer. An individual who becomes your customer, not later than when you establish a customer relationship, except as provided in paragraph ( e ) of this section; and ( 2 ) Consumer. A consumer, before you disclose any nonpublic personal information about the consumer to any nonaffiliated third party, if you make such a disclosure other than as authorized by 1016.14 and 1016.15 of this part. All of 15 USC 1602 Definitions Rules of Construction clearly defines the roles between the two parties involved and who is extending the line of credit! 12 CFR 1002.2 DEFINITIONS ( a ) Account means an extension of credit. When employed in relation to an account, the word use refers only to open-end credit.

( b ) Act means the Equal Credit Opportunity Act ( Title VII of the Consumer Credit Protection Act ) ( e ) Applicant means any person who requests or who has received an extension of credit from a creditor and includes any person who is or may become contractually liable regarding an extension of credit. For purposes of 1002.7 ( d ), the term includes guarantors, sureties, endorsers, and similar parties. ( i ) Contractually liable means expressly obligated to repay all debts arising on an account by reason of an agreement to that effect. Just as AHFC Indentured Agreement states and AHFC prospectus states who is obligated.

12 CFR 1002.2 ( h ) Consumer credit means credit extended to a natural person primarily for personal, family, or household purposes. ( k ) Credit card means any card, plate, coupon book, or other single credit device that may be used from time to time to obtain money, property, or services on credit.12 CFR 1002.2 ( q ) Extend credit and extension of credit mean the granting of credit in any form ( including, but not limited to, credit granted in addition to any existing credit or credit limit ; credit granted pursuant to an open-end credit plan ; the refinancing or other renewal of credit, including the issuance of a new credit card in place of an expiring credit card or in substitution for an existing credit card ; the consolidation of two or more obligations ; or the continuance of existing credit without any special effort to collect at or after maturity ).

( 2 ) The term does not include : ( i ) A change in the terms of an account expressly agreed to by an applicant ; I did not make any changes or agreements to voluntarily repossession. Nor was a court order issued.

Under 15 USC 1692g -I am entitled to have the Debt validated and which I have requested several times as well. Then after all this AHFC reported me to the consumer credit reporting agencies. ( p ) Empirically derived and other credit scoring systems ( 1 ) A credit scoring system is a system that evaluates an applicant 's creditworthiness mechanically, based on key attributes of the applicant and aspects of the transaction, and that determines, alone or in conjunction with an evaluation of additional information about the applicant, whether an applicant is deemed creditworthy.

Which has caused erroneous harm to me, my family and my ability to properly provide for my household. Causing me to have to relocate in order to maintain my employment and lose of personal items. Also, the language of the lease/loan agreement is very unclear as to what my rights are as a consumer. I have found within the agreement between AHFC there to be in excess of 18 violations. Based upon the language.

NOWHERE DOES THE CONTRACTUAL AGREEMENT, INDENTURED AGREEMENT OR PROSPECTUS ask, demand or request payments in the form of FEDERAL RESERVE NOTES. PLEASE REFUND ALL OF MY FEDERAL RESERVE NOTES FROM 2016-2023 12 CFR 226.10 - Payments.

226.10 Payments.

( a ) General rule. A creditor shall credit a payment to the consumer 's account as of the date of receipt, except when a delay in crediting does not result in a finance or other charge or except as provided in paragraph ( b ) of this section.

( b ) Specific requirements for payment ( 1 ) General rule. A creditor may specify reasonable requirements for payments that enable most consumers to make conforming payments.

( 2 ) Examples of reasonable requirements for payments. Reasonable requirements for making payment may include : ( i ) Requiring that payments be accompanied by the account number or payment stub ; ( ii ) Setting reasonable cut-off times for payments to be received by mail, by electronic means, by telephone, and in person ( except as provided in paragraph ( b ) ( 3 ) of this section ), provided that such cut-off times shall be no earlier than 5 p.m. on the payment due date at the location specified by the creditor for the receipt of such payments ; ( iii ) Specifying that only checks or money orders should be sent by mail ; ( iv ) Specifying that payment is to be made in U.S. dollars; or Another thing, TILA/GAAP was never explained nor followed. 
The Truth in Lending Act ( XXXX ) is a consumer protection law enacted in XXXX in response to exceedingly predatory loan practices. Prior to the TILA, lenders would use a variety of terminology and forms of lending that manipulated uninformed borrowers. The TILA changed this by requiring a uniform system of disclosures and terminology to be used for lending like credit cards or mortgages. Creditors were required to disclose details like the annual percentage rate and repayments details in a clear way to borrowers or else the borrower may be able to rescind the debt. TILA also limits the amount of late fees creditors can charge. Overall, the TILA since its signing has been updated to respond to changing lending practices to ensure borrowers clearly understand the terms and conditions they agree to.

GAAP stands for Generally Accepted Accounting Principles and refers to the standard accounting rules regarding the preparation, presentation, and reporting of financial statements in the United States.

This definitely wasn't explained for I would have included my downpayment and finance charges.

12 CFR Part 226 - PART 226TRUTH IN LENDING ( REGULATION Z ) 226.1 Authority, purpose, coverage, organization, enforcement, and liability. ( c ) Coverage.

( 1 ) In general, this regulation applies to each individual or business that offers or extends credit when four conditions are met : ( i ) The credit is offered or extended to consumers ; ( ii ) The offering or extension of credit is done regularly ; In conclusion, if the debt can be validated, I have no issue remedying the situation. As I have been a loyal customer of AHFC for several years.

( a ) In general The Bureau may take any action authorized under part E to prevent a covered person or service provider from committing or engaging in an unfair, deceptive, or abusive act or practice under Federal law in connection with any transaction with a consumer for a consumer financial product or service, or the offering of a consumer financial product or service.

Company response to consumer: Closed with explanation