Consumer complaint received 2025-12-23 00:00:00
Product: Credit reporting or other personal consumer reports — Credit reporting
Issue: Incorrect information on your report — Account status incorrect
Company: CREDIT ACCEPTANCE CORPORATION
State: FL

Complaint narrative:
Company : Credit Acceptance Corporation XXXX, Michigan Product : Auto Loan - XXXX XXXX XXXX XXXXXXXX XXXX Account Opened : XX/XX/XXXX Reported Balance : {$5700.00} Account Status : Reported OPEN Issue : Incorrect balance / Loan should be closed / Unfair servicing COMPLAINT NARRATIVE : Credit Acceptance Corporation is inaccurately reporting an auto loan as OPEN despite permanent loss and third-party auction of the collateral. 

I was incarcerated from XXXX XXXX and legally incapacitated. My Power of Attorney requested voluntary repossession, which Credit Acceptance refused. 

The vehicle was later stolen, abandoned, towed, liened, and auctioned without my involvement. 

Credit Acceptance failed to repossess, secure, or recover its collateral and now continues to report the loan as open and delinquent. 

This is legally impossible under UCC Article 9 and constitutes inaccurate credit reporting under 15 U.S.C. 1681e ( b ). 

I am XXXX and receive SSI only. Credit Acceptance Corporation continuing to demand payment constitutes unfair and abusive conduct under 12 U.S.C. 5531 ( UDAAP ). 

I am requesting that the CFPB require Credit Acceptance to : Close the account Charge off the balance as collateral loss Correct or delete all credit FACTS ( UNDISPUTED ) : Payments were current as of XX/XX/XXXX. 
In XX/XX/XXXX, the vehicle was involved in an accident and should have been declared a total loss. 

In XX/XX/XXXX, I was incarcerated and legally incapacitated until XX/XX/XXXX. 

My Power of Attorney requested voluntary repossession, which Credit Acceptance refused, citing low vehicle value. 

In XX/XX/XXXX, the vehicle was stolen without my consent. 

The vehicle was recovered, abandoned, towed, liened, and auctioned by a tow facility. 
I never regained possession or control of the vehicle. 
Credit Acceptance no longer possesses collateral and can not repossess it. 

LEGAL VIOLATIONS UCC ARTICLE 9 ( SECURED TRANSACTIONS ) Credit Acceptance failed to secure, recover, or repossess its collateral after default, despite notice and opportunity. 

Under UCC 9-601, 9-609, 9-610, the secured creditor assumes the risk of collateral loss when repossession is refused. 

FCRA INACCURATE REPORTING 15 U.S.C. 1681e ( b ) requires maximum possible accuracy. 

An auto loan can not lawfully remain OPEN when collateral has been stolen, auctioned, and permanently lost. 

CFPB UDAAP 12 U.S.C. 5531 Continuing to report this account as open and demanding payment from a XXXX SSI recipient constitutes an unfair and abusive act. 

Prior to discovering the laws and information pertaining to this, I had reached out to Credit Acceptance numerous times both by telephone and in writing requesting consideration for a financial hardship, which has always been declined, only offering to settle for less than the amount owed. As stated above I am XXXX and barely able to maintain shelter and food. This has placed an undue amount of burden on me and I wish to have this matter handled per the statutes and regulations. I have not had possession of that vehicle since XXXX of XXXX and the vehicle has been liened and auctioned. 

Thank you, XXXX XXXX XXXX

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