Vehicle loan or lease -- Repossession -- Complaint #15051325
Complaint Overview
Complaint ID: 15051325
Company: Truist Financial Corporation
Product: Vehicle loan or lease
Sub-Product: Loan
Issue: Repossession
Sub-Issue: Loan balance remaining after the vehicle is repossessed and sold
State: Texas
ZIP Code: 77088
Date Received: 2025-08-03T12:00:00-05:00
Date Sent to Company: 2025-08-04T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
I am filing this complaint against Regional Acceptance Corporation due to their continued misreporting and legal violations related to a repossessed vehicle account. Regional Acceptance repossessed my vehicle and confirmed it was sold, but they continue to report the full pre-sale balance as if no sale ever took place. This is inaccurate and misleading. Under federal and state law, they are required to apply the sale proceeds to the outstanding balance and provide a proper deficiency breakdown, which they have failed to do. They have also failed to provide proof of compliance with proper repossession procedure under : UCC 9-609 ( repossession without breach of peace ), UCC 9-611 ( pre-sale notice ), UCC 9-616 ( post-sale explanation of deficiency ), and California Civil Code 2983.2, including : No 15-day written notice of intent to sell, No opportunity for me to redeem the vehicle, No itemized payoff or breakdown of the deficiency balance, No proof of a commercially reasonable sale. The only document provided was a vague account summary with a claimed sale figure. They did not include any signed contracts, payment statements, or documentation substantiating the accuracy of the amount they are reporting. They are reporting this account as a charge-off and furnishing inaccurate, inflated balances in violation of : FCRA 15 U.S.C. 1681e ( b ) furnishing inaccurate information, FDCPA 15 U.S.C. 1692g failure to validate the debt, FDCPA 15 U.S.C. 1692e ( 2 ) ( A ) false representation of the character, amount, or legal status of a debt. This is now my second attempt to resolve this matter. The account remains improperly reported and unresolved. If this is not corrected immediately, I am prepared to move forward with formal legal action for violations of the FDCPA, FCRA, UCC, and XXXX XXXX XXXX consumer protection law.
Frequently Asked Questions
What is Complaint #15051325 about?
Complaint #15051325 was filed against Truist Financial Corporation regarding Vehicle loan or lease specifically about Repossession. It was received by the CFPB on 2025-08-03T12:00:00-05:00.
How did Truist Financial 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 Truist Financial Corporation?
Yes, visit the Truist Financial Corporation company profile at readthecomplaint.com/company/truist-financial-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.