Credit reporting, credit repair services, or other personal consumer reports -- Problem with a credit reporting company's investigation into an existing problem -- Complaint #6783846

Complaint Overview

Complaint ID: 6783846

Company: Acima Credit, LLC

Product: Credit reporting, credit repair services, or other personal consumer reports

Sub-Product: Credit reporting

Issue: Problem with a credit reporting company's investigation into an existing problem

Sub-Issue: Was not notified of investigation status or results

State: Arizona

ZIP Code: 85037

Date Received: 2023-04-01T12:00:00-05:00

Date Sent to Company: 2023-04-01T12:00:00-05:00

Company Response: Closed with explanation

Timely Response: Yes

Consumer Disputed: N/A

Submitted Via: Web

Consumer Narrative

I am writing to file a complaint against XXXX and Acima, a creditor that has violated my rights under the Fair Credit Reporting Act ( FCRA ), 15 U.S.C. 1681 et seq. Specifically, I am alleging that Acima has charged off my account before the 180-day mark, in violation of the FCRA and XXXX XXXX XXXX XXXX XXXX proof of consumer credit indebtedness. I have not received a written notice from Acima indicating that my account had been late or charged off. However, I believe that this charge off was made before the 180-day mark, which violates both the FCRA and XXXX XXXX XXXX XXXX XXXX proof of consumer credit indebtedness. Under the FCRA, creditors are required to notify consumer of negative reporting in writing prior or 30 days after negative reporting has been report negative information about a consumer 's credit history, including the date of first delinquency and the date of any charge off. XXXX XXXX XXXX XXXX 's proof of consumer credit indebtedness further clarifies that a creditor can not charge off a debt before the 180-day mark has been reached. Clear violation on consumer report payment history doesn't reflect " 30, 60, 90, 120, 150, 180 '' or the exact date of first delinquent. Acima 's violation of these requirements has caused significant harm to me, such as damaging my credit score and affecting my ability to obtain credit, housing or loans. I am requesting that the Consumer Financial Protection Bureau take action to hold Acima accountable for its violation of the FCRA and XXXX XXXX XXXX XXXX 's proof of consumer credit indebtedness. I request that you investigate this matter and take any necessary enforcement action to ensure that Acima complies with the law and rectifies any damages caused to me. I am writing to file a complaint against Acima, a lessor that has violated my rights under the Truth in Lending Act ( TILA ) Regulation M, 12 CFR Part 1013. Specifically, I am alleging that Acima has failed to provide required disclosures for a lease that meets the following criteria : A period of more than four months ( week-to-week and month-to-month leases do not meet this criterion, even though they may be extended beyond four months ) ; and With a total contractual cost of no more than the threshold amount specified in Appendix C at 12 CFR 1013.2 ( e ) -9. Despite meeting these criteria, Acima failed to provide me with the required disclosures under TILA Regulation M, which includes information such as the total amount of payments, the total amount of the lease, the amount due at signing, and other important details about the lease. This failure to provide required disclosures has caused significant harm to me. I am requesting that the Consumer Financial Protection Bureau take action to hold Acima accountable for its violation of TILA Regulation M. I request that you investigate this matter and take any necessary enforcement action to ensure that Acima complies with the law and rectifies any damages caused to me. Advertisement- means a commercial message in any medium that directly or indirectly promotes a consumer lease transaction. Personal items were listed as a month to month payment of {$50.00} something dollars. Acima Emails also dedicated it was instore credit or credit line with an credit approval with third party. So Acima wasn't present at the transaction, Acima is unaware of the advertise price on item. The advertisement failed to comply with certain disclosure requirements under the Truth in Lending Act ( TILA ) Regulation M, specifically related to accurate disclosure of trigger terms and other required information. The advertisement included a reference to a trigger term, specifically the amount of the monthly payment required for the lease. However, it failed to include the following required disclosures : A statement that the transaction is for a lease ; The total amount due prior to or at lease signing or delivery ; The number, amounts, and due dates or periods of the scheduled payments ; A statement of whether or not a security deposit is required ; A statement that an extra charge may be imposed at the end of the lease term where the lessee 's liability ( if any ) is based on the difference between the residual value of the leased property and its realized value at the end of the lease term. Additionally, the advertisement failed to comply with requirements for an open-end lease, which should have included a statement that extra charges may be imposed at the end of the lease based on the difference between the residual value and the realized value at the end of the lease term. Furthermore, the advertisement provided a percentage rate, which was more prominent than other required disclosures. The advertisement also failed to include a statement that " this percentage may not measure the overall cost of financing this lease '' and used the term " annual percentage rate '' despite regulations prohibiting such use. I believe that these violations have caused significant harm to me as a consumer, including confusion and possible financial losses due to inaccurate or incomplete information provided in the advertisement. I request that the Consumer Financial Protection Bureau take action to investigate this matter and hold Acima accountable for their violations of TILA Regulation M. Please take any necessary enforcement action to ensure that Acima complies with the law and rectifies any damages caused to me. Thank you for your attention to this matter. Please let me know if you require any additional information. I am writing to express my concern regarding the handling of my consumer report by your organization. As a consumer, I have the right to ensure that the information being reported about me is accurate and up-to-date. Unfortunately, it appears that XXXX has failed to investigate my consumer report as required by law. Under the Fair Credit Reporting Act ( FCRA ), credit reporting agencies are required to investigate any disputes within 30 days of receiving a request. However, despite my attempts to dispute inaccurate information on my report, I have yet to receive any confirmation that XXXX has conducted a thorough investigation. I am requesting that XXXX comply with the law as written and promptly investigate my consumer report. Please provide me with written confirmation that an investigation has been initiated and a timeline for when I can expect a resolution to this matter. Additionally, I request that you provide me with a copy of my updated report once the investigation is complete. I understand that mistakes can be made, but I am concerned about the lack of action on your part to rectify this situation. I trust that XXXX will take swift and appropriate action to ensure that my consumer report is accurate and up-to-date. Thank you for your attention to this matter

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