Vehicle loan or lease -- Struggling to pay your loan -- Complaint #7472229
Complaint Overview
Complaint ID: 7472229
Company: Credit Acceptance Corporation
Product: Vehicle loan or lease
Sub-Product: Loan
Issue: Struggling to pay your loan
Sub-Issue: Denied request to lower payments
State: Ohio
ZIP Code: 441XX
Date Received: 2023-08-29T12:00:00-05:00
Date Sent to Company: 2023-08-30T12:00:00-05:00
Company Response: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
I initially took out the auto loan in XXXX. I called to ask if they could change my due date because the date they gave was before my pay period. They responded they don't do that. In the fall of XXXX I missed a payment due to a tax bill. Every payment afterwards has been on time. I have payment arrangements that i have kept to the day. XXXX and XXXX of XXXX I sent letters requesting to remove late charges thru my credit repair due to all other payments were on time. I received a letter back from them stating that my request was frivolous and irrelevant. I called on XX/XX/XXXX to ask if I have any options available like deferment and I was advised no, they don't offer anything to help you get back on track. She offered to send a request to the credit dept. to dispute my request and I told her that I had done that already which was why I was calling. I advised that I received the letter from them stating that my request was frivolous. She apologized and ended the call. This company only receives payments. They don't do anything to assist the customer if they have payment issues. Because my payments keep getting reported late, my credit score can not recover. Therefore, I can't refinance my loan. So basically I'm screwed because i can't afford the extra payment to stop them from reporting the payments late every month. Had I known that they don't offer anything to help their customers I wouldn't have taken the loan. It's basically set up to cause you to fail and be stuck in a loan that benefits no one but them. They refuse to offer any option to help the customer at all even though you advise that you are struggling, but willing to continue payments but need a little help. They do not operate like the average finance company that will offer you some form of assistance to keep you on track. They should not be allowed to get away with doing this to people. I will never be able to get my credit on track if this keeps up.
Frequently Asked Questions
What is Complaint #7472229 about?
Complaint #7472229 was filed against Credit Acceptance Corporation regarding Vehicle loan or lease specifically about Struggling to pay your loan. It was received by the CFPB on 2023-08-29T12:00:00-05:00.
How did Credit Acceptance Corporation respond to this complaint?
The company responded with: "Closed with monetary relief". 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.