Consumer complaint received 2025-11-15 00:00:00
Product: Vehicle loan or lease — Loan
Issue: Repossession — Loan balance remaining after the vehicle is repossessed and sold
Company: TRUIST FINANCIAL CORPORATION
State: FL

Complaint narrative:
Regional Acceptance Corporation XXXX XXXX XXXX XXXX, Misapplied Insurance Payments, and False Credit Reporting To Whom It May Concern : I am filing this formal complaint against Regional Acceptance Corporation ( RegionalAc ) regarding an auto loan that became a total loss in a vehicle collision, where both my auto insurance and GAP insurance paid the full balance, yet the lender is falsely reporting the account as : A repossession, Charged-off, Late payments, And continues reporting derogatory information that is inaccurate, unfair, and unlawful. 



-- - SUMMARY OF WHAT HAPPENED I had an auto loan financed through Regional Acceptance Corporation. 
My vehicle was later involved in a total loss accident. Following the total loss : 1. My primary auto insurance paid RegionalAc The insurance company fulfilled their responsibility by sending the insurance settlement directly to RegionalAc.

2. GAP insurance sent the remaining balance Because the insurance payout did not cover the full loan balance ( normal in total loss ), my GAP provider sent the remaining balance to Regional Acceptance to satisfy the account in full.

3. Regional Acceptance claims they never received the GAP payment Despite documentation showing the payment was issued and mailed, RegionalAc denies receiving it. Instead of investigating properly or communicating with GAP, they immediately treated me as if I owed a deficiency balance.

4. They reported the account as a repossession This is false and impossible, because : The car was not repossessedit was totaled in an accident.

You can not repossess a vehicle that no longer exists.

Insurance and GAP satisfied the balance.

5. They continue to report ongoing late payments Even though : I had no remaining financial obligation, GAP paid the remaining balance, The vehicle was surrendered to the insurance, not repossessed, The loan should have been closed and paid in full after GAP fulfillment.

6. RegionalAc provided no options and no proper response They did not offer : A review, An investigation, A dispute resolution, Contact with GAP, Documentation support, Or any corrective process. 


Instead, they immediately damaged my credit without basis. 

This is unfair, deceptive, and unlawful.

-- - LEGAL VIOLATIONS Your situation violates multiple federal consumer protection laws.

-- - 1. FCRA 602 Right to Accurate and Fair Reporting RegionalAc is reporting : Repossession Late payments Past due balance All of which are false, unlawful, and harmful.

-- - 2. FCRA 607 ( b ) Duty to Maintain Maximum Possible Accuracy A lender must ensure that all information furnished is accurate.

Reporting a repossession on a total loss account that was paid by insurance + GAP is factually inaccurate.

-- - 3. FCRA 609 Right to Complete Verification I requested verification of : Payoff amounts Insurance payment GAP payment RegionalAc did not provide the required documentation.

-- - 4. FCRA 611 Failure to Reinvestigate Disputed Information I disputed the inaccurate reporting.

The reporting was not corrected nor properly reinvestigated.

-- - 5. FCRA 623 ( a ) Furnisher Responsibility A furnisher must not report information it knows or should know is inaccurate.

RegionalAc is reporting : A repossession that never occurred Late payments after the loan should have been satisfied A deficiency balance that GAP already covered This is a direct violation.

-- - 6. UDAAP Unfair, Deceptive, Abusive Acts and Practices Reporting false derogatory information after an insurance total-loss claim is : Unfair causes significant harm Deceptive misrepresents the status of the loan Abusive exploits the consumers lack of access to internal payment system information CFPB has direct oversight over these violations.

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