Vehicle loan or lease -- Managing the loan or lease -- Complaint #11474770
Complaint Overview
Complaint ID: 11474770
Company: American Credit Acceptance, LLC
Product: Vehicle loan or lease
Sub-Product: Lease
Issue: Managing the loan or lease
Sub-Issue: Billing problem
State: Maryland
ZIP Code: 20705
Date Received: 2025-01-10T12:00:00-05:00
Date Sent to Company: 2025-01-10T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
I am writing to formally dispute and request corrections to significant discrepancies in my loan payment records for Account XXXX After thoroughly reviewing my transaction history and payment records, I have identified several inaccuracies that do not reflect my payment history or outstanding balance. These errors directly impact my payment status and, potentially, my credit standing. Specific Issues Identified Balance Discrepancies As of XXXX XXXX XXXX the balance stated was XXXX which includes a past-due amount of XXXX and late fees of XXXX. My payment records, however, suggest that the outstanding balance should be lower based on prior payments. on XXXX XXXX XXXX, a payment of XXXX did not reduce the Running Principal Balance of XXXX, as it should have. Similar errors are evident on multiple other dates, including XXXX XXXX XXXX, and XXXX XXXX XXXX "Days Past Due" Errors Despite payments made, the "Days Past Due" status did not reset or reduce as expected: XXXX: Payment made, but "Days Past Due" remained at XXXX XXXX Payment made, but "Days Past Due" remained aXXXX XXXX XXXX Payment made, but "Days Past Due" remained at XXXX XXXX and XXXX: Similar errors, where payments did not reflect reductions in the "Days Past Due." Inconsistent Application of Payments There are discrepancies in how payments have been applied to principal, interest, and fees, suggesting misapplication or omission of credits to my account. Inconsistencies in Running Principal Balance On XXXX multiple transactions occurred. Despite payments and reversals (PAYMENT-R), the Running Principal Balance remains unchanged at XXXX after several entries, which seems incorrect: Payment: XXXX Balance remains XXXX Reversal (PAYMENT-R): ($350.00) Balance still XXXX Payment again: XXXX Balance still $XXXX These entries should adjust the balance accordingly. Similarly, on XXXX, a payment of XXXX shows no impact on the Running Principal Balance, which remains at XXXX Repeated or Redundant Transactions There are several reversals labeled "PAYMENT-R" that do not seem to fully o
Frequently Asked Questions
What is Complaint #11474770 about?
Complaint #11474770 was filed against American Credit Acceptance, LLC regarding Vehicle loan or lease specifically about Managing the loan or lease. It was received by the CFPB on 2025-01-10T12:00:00-05:00.
How did American Credit Acceptance, LLC 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 American Credit Acceptance, LLC?
Yes, visit the American Credit Acceptance, LLC company profile at readthecomplaint.com/company/american-credit-acceptance-llc 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.