Consumer complaint received 2025-12-08 00:00:00
Product: Vehicle loan or lease — Loan
Issue: Managing the loan or lease — Loan sold or transferred to another company
Company: Byrider Franchising, LLC
State: IN

Complaint narrative:
I am filing this complaint regarding ongoing issues with my auto loan involving CNAC and XXXX. Both companies have provided conflicting and misleading information regarding who currently owns my loan, resulting in an inability to resolve predatory lending concerns, credit reporting inaccuracies, and my right to know the lawful owner/holder of my account. 

XXXX. Conflicting Statements on Loan Ownership CNAC has repeatedly informed me that they no longer own my loan and stated that I must speak with WPM regarding all account matters. However, when contacting XXXX, they insist that CNAC is still the owner. XXXX did provide a Power of Attorney referencing a CNAC trust, indicating my loan was transferred into a trust - yet I was never notified of any transfer or assignment as required under federal law ( including TILA and applicable state statutes ). 
CNAC says : We no longer own your loanspeak with XXXX. 
XXXX says : XXXX still owns your loan. 
This circle has left me with no verifiable loan owner, no point of contact with actual authority to resolve issues, and no compliance with my repeated requests for written verification of the current creditor. XXXX has stated that technically they own my loan, but in former complaint to this agency they stated they did not - and that complaint is now closed and XXXX left in the same revolving door. 

XXXX. Lack of Required Disclosure and Verification of the Loan Owner Despite multiple formal requests, neither CNAC nor XXXX has provided : The name and contact information of the true loan owner/holder Documentation of transfer or sale The date my loan was placed into a trust Any legally required notice of assignment or sale This refusal violates my rights as a consumer and has obstructed my ability to dispute charges, address errors, and verify who has the legal authority over my account. 

3. Predatory Lending Practices This loan has demonstrated several predatory characteristics from the start. I have already paid approximately three times the value of the vehicle due to excessive interest and terms. CNAC also failed to honor their own warranties, and when repairs were made, the vehicle was returned with dangerous, undisclosed issues.

4. Inaccurate Credit Reporting My credit report lists the loan as having been sold to another lender, but does not identify the new owner. Yet both CNAC and XXXX refuse to provide the required information. Additionally, certain reporting entries appear inaccurate or incomplete, and I can not dispute them accurately without basic confirmation of who owns the loan. 

XXXX. Ongoing Harm This ownership dispute has caused : Inability to resolve account issues Ongoing credit harm Inability to verify debt validity Obstruction of my consumer rights under federal law I am requesting the CFPBs assistance in compelling CNAC and XXXX  to do the following : 1.Provide the verified, legal owner/holder of my loan.

2.Provide documentation of any transfer, trust placement, or assignment.

3.Correct all inaccurate credit reporting.

4.Address my concerns regarding predatory loan terms and prior warranty failures. 
5.Comply with all federally required disclosures and consumer rights obligations. 

I have made numerous attempts to resolve this directly with both companies, but each continues redirecting responsibility to the other, leaving me with no path to resolution. 

Thank you for your attention to this matter. I request full investigation and corrective action.

Company response to consumer: Closed with explanation