Vehicle loan or lease -- Repossession -- Complaint #20355608
Complaint Overview
Complaint ID: 20355608
Company: Avid Acceptance, LLC
Product: Vehicle loan or lease
Sub-Product: Loan
Issue: Repossession
Sub-Issue: Loan balance remaining after the vehicle is repossessed and sold
State: Florida
ZIP Code: 32073
Date Received: 2026-03-17T12:00:00-05:00
Date Sent to Company: 2026-03-18T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
I am writing to formally dispute the reporting of the above-referenced account on my credit report. Upon review, I have identified multiple inaccuracies and potential violations of the Fair Credit Reporting Act ( FCRA, 15 U.S.C. 1681i ), as well as non-compliance with XXXX XXXX credit reporting standards. Grounds for Dispute Account Status and Monthly Payments Are Incorrect : The account shows a balance of {$32000.00} and a monthly payment of {$690.00}, even though it was charged off and closed on XX/XX/XXXX. XXXX XXXX standards require that closed or charged-off accounts can not have ongoing monthly payment obligations. Reporting such payments is inaccurate and misleading. High Balance Reporting After Closure : The historical balance shows activity from XX/XX/XXXX through XX/XX/XXXX, well after the account was closed. This is inaccurate and unverifiable information under FCRA. No Notice of Sale Received : I never received a notice of sale or intent to sell the repossessed vehicle. Under state repossession law and XXXX XXXX/FCRA requirements, the lender must notify the borrower before selling repossessed collateral. Without proof that proper notification was provided, this account can not be verified as accurate. Violation of FCRA Verification Requirements : Under 15 U.S.C. 1681i ( a ), I have the right to dispute inaccurate information and request verification. If the creditor can not provide proof that the account was properly reported in accordance with FCRA and XXXX XXXX standards, it must be removed
Frequently Asked Questions
What is Complaint #20355608 about?
Complaint #20355608 was filed against Avid Acceptance, LLC regarding Vehicle loan or lease specifically about Repossession. It was received by the CFPB on 2026-03-17T12:00:00-05:00.
How did Avid 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 Avid Acceptance, LLC?
Yes, visit the Avid Acceptance, LLC company profile at readthecomplaint.com/company/avid-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.