Vehicle loan or lease -- Managing the loan or lease -- Complaint #4588963
Complaint Overview
Complaint ID: 4588963
Company: Credit Acceptance Corporation
Product: Vehicle loan or lease
Sub-Product: Loan
Issue: Managing the loan or lease
Sub-Issue: Billing problem
State: Ohio
ZIP Code: 453XX
Date Received: 2021-07-30T12:00:00-05:00
Date Sent to Company: 2021-07-30T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
On XX/XX/2021 Credit Acceptance reported my payment for the month of XXXX as late when I had a billable credit card on file with the company. The issue is I was directed to put a card on file for automatic billing and I was advised I " could '' use a credit card not a debit card. I followed instructions by placing a credit card on file only to have this form of payment rejected. I was not notified about the rejected payment and or the late payment until after the 30 day period. The issue is that I was told by a representative on XX/XX/XXXX that a " credit card '' was a sufficient form of payment and that it could be added to my profile. My complaint is I now have a late payment on my credit report which ruined my credit and any chances of purchasing a home I already had under contract. I lost the home and the mortgage pre approval and my credit score dropped over 100 points. i reached out to Credit Acceptance via there dispute process and was denied any validation and or correction of the error and consideration of removing the " Late Payment '' in good faith. My payments were current before and after this incident and I have suffered a great loss due to this error on their part. Credit Acceptance needs to post acceptable forms of payment in their online website payment portal.
Frequently Asked Questions
What is Complaint #4588963 about?
Complaint #4588963 was filed against Credit Acceptance Corporation regarding Vehicle loan or lease specifically about Managing the loan or lease. It was received by the CFPB on 2021-07-30T12:00:00-05:00.
How did Credit 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 Credit Acceptance Corporation?
Yes, visit the Credit Acceptance Corporation company profile at readthecomplaint.com/company/credit-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.