Debt collection -- Attempts to collect debt not owed -- Complaint #4764226
Complaint Overview
Complaint ID: 4764226
Company: American Credit Acceptance, LLC
Product: Debt collection
Sub-Product: Auto debt
Issue: Attempts to collect debt not owed
Sub-Issue: Debt was paid
State: North Carolina
ZIP Code: 27320
Date Received: 2021-09-29T12:00:00-05:00
Date Sent to Company: 2021-09-29T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
I have received a copy of my transaction payment history with American Credit Acceptance. I got this loan in XX/XX/2019 and my payments are {$330.00} each month due by the XXXX. The interest rate is 28 % and am also under a simple interest loan with has a per diem. of {$7.00} daily interest. I have every payment and never been 30 days deliquent on this account. ACA has applied over 8 payments towards all of interest and nothing towards my principal balance. I have tried to call them and discuss this error and no one is able to assist me they keep trying to tell me its simple interest and I understand that however even though it is simple interest if I pay any payment before the due date I should have money applied to interest if paid before the due date and at no time should my full payment be applied fully towards interest if I am paying before the due date or not going over 30 days. I have tried my best to discuss this with ACA and I am getting no where with them. I work for a bank with mortgages and I know exactly how simple loans work and should apply to debt balances. Please review my payment history and have them update this payment on my credit report file as well as their file. Thank you so much!
Frequently Asked Questions
What is Complaint #4764226 about?
Complaint #4764226 was filed against American Credit Acceptance, LLC regarding Debt collection specifically about Attempts to collect debt not owed. It was received by the CFPB on 2021-09-29T12:00:00-05:00.
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 (Debt collection) 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.