Vehicle loan or lease -- Repossession -- Complaint #10174361
Complaint Overview
Complaint ID: 10174361
Company: Bridgecrest Acceptance Corporation
Product: Vehicle loan or lease
Sub-Product: Loan
Issue: Repossession
Sub-Issue: Lender trying to repossess or disable the vehicle
State: Washington
ZIP Code: 98223
Date Received: 2024-09-18T12:00:00-05:00
Date Sent to Company: 2024-09-18T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
I am trying to reinstate my car loan with Bridgecrest, but I have hit a wall and can't afford a lawyer. I believe Bridgecrest may be overlooking my rights under XXXX XXXXXXXX XXXX XXXX, which allows borrowers to reinstate their loans by paying arrears without paying the full balance. However, when I attempted to discuss this with Bridgecrest, they insisted that my only option was to pay off the entire principal of the loan to avoid repossession. I spoke with Bridgecrest representatives on XXXX XXXX XXXX XXXX XXXX, and was informed by both agents that " Bridgecrest doesn't reverse charge-offs, '' which they claim is the only way to resolve my account. This means that while my vehicle is still in my possession ( pending repossession since XX/XX/year> ), I was told that paying off the full loan balance is my only option to avoid repossession. However, based on XXXX XXXXXXXX XXXX, I believe I should have the right to reinstate the loan by paying off the missed payments ( arrears ) and not the full loan balance. I faced significant financial hardship over the last XXXX years, including job loss, loss of health insurance, mental health challenges, and homelessness. I wasnt able to make payments for almost 12 months, but I am now working to rebuild my life. I am enrolled in a Debt Management Plan ( DMP ) and saving to catch up on my obligations. I believe I now have enough saved to bring my account current, but Bridgecrests insistence on a full loan payoff is preventing me from resolving this issue that would aid my financial recovery. To demonstrate my commitment to resolving this situation, on XX/XX/year>, I made a {$2000.00} payment toward my account. I am seeking to reinstate my loan and have already requested that Bridgecrest provide the total balance needed to bring my account current. However, I have only been told that charge-offs are irreversible and have not received any information on how to reinstate my loan under XXXX XXXX XXXX In addition, I am sending a certified letter to Bridgecrest reiterating my request to reinstate my loan. This letter further emphasizes my willingness to pay off the overdue balance, and now that I have made the {$2000.00} payment, I need confirmation of the remaining amount required to bring my account current. I am filing this complaint with the CFPB in hopes that Bridgecrest will honor my legal rights as a XXXX XXXX borrower.
Frequently Asked Questions
What is Complaint #10174361 about?
Complaint #10174361 was filed against Bridgecrest Acceptance Corporation regarding Vehicle loan or lease specifically about Repossession. It was received by the CFPB on 2024-09-18T12:00:00-05:00.
How did Bridgecrest Acceptance Corporation respond to this complaint?
The company responded with: "Closed with explanation". The response was timely.
What is the risk level of this complaint?
See the risk assessment section for details on this complaint's risk profile.
How do I file a similar complaint?
You can file a complaint with the CFPB at consumerfinance.gov/complaint. Select the appropriate product category (Vehicle loan or lease) and describe your issue in detail.
Can I see other complaints against Bridgecrest Acceptance Corporation?
Yes, visit the Bridgecrest Acceptance Corporation company profile at readthecomplaint.com/company/bridgecrest-acceptance-corporation to see all complaints, risk scores, and analysis.
Disclaimer
This analysis is AI-generated based on publicly available CFPB complaint data. It does not constitute financial or legal advice.