ComplaintsforAmerican Credit Acceptance, LLC

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Initial Complaint
06/26/2024
Complaint Type:
Billing Issues
Status:
Answered
The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
American Credit Acceptance I have had a account with them for 4.5 years it is showing one outstanding payment and I have made in the last 1.5 years 6 double payments, and they have sent me a letter stating if I don't pay the addental payment by 6/27/2024 they will repo my car. This I do not understand because each time I pay the double payment in stand of paying this and making me current they charged a late fee paid very little to loan and most went to interest. I called the supervisor this morning and le said that is how there accounting goes so I am always one payment behind, and they charge interest on the daily. I have a copy of the contract I signed, and this is not explained at all in it. The supervisor said he could see where I have been trying to pay but there is nothing, he can do about it. BEWARE BEWARE OF AMERICAN CREDIT ACCEPTANCE.
Business response
07/11/2024
This is to serve as a formal response by American Credit Acceptance, LLC (“ACA”) to the complaint filed by ******* ******* with the BBB case number ********.

An investigation of the customer’s account determined Ms. ******* *** ******* signed a Retail Installment Contract on 12/14/2020 with ******, for the purchase of a 2013 ****** *****. The contract was assigned to ACA.

A Right to Cure letter required by Ms. ********* state was mailed on 6/17/2024 due to the account being 21 days past due for $490.31.

Ms. ******* processed a payment on 6/18/2024 for $466.96 via debit on the automated system after the letter was mailed. The payment was applied to May 2024 payment.

ACA does not have a grace period. A payment not satisfied in full on the due date is considered late.

The customer does have 15 days before a late fee is assessed for 5% of the payment amount due.

Interest accrues daily and is based on current principal balance and the contractual annual percentage rate (APR) of 24.1%%. When the payments are posted, any accrued interest is paid first, then the remainder of the payment is applied to the principal. Regarding applying payments, ACA applies payments in the following allocation order:

            1.           Repossession fees, if any
            2.           Interest (currently due)
            3.           Principal (current and past due)
            4.           All other fees (such as late fees and non-sufficient funds fees (NSF)
            5.           Remaining principal

Whenever Ms. ******* makes a payment, ACA applies the payment to the accrued interest first, then principal. Interest accrues daily and is based on the current principal balance, the APR of 24.1% the number of days over which interest has accrued. The principal balance is highest at the beginning of the loan, so more of the payment is taken up by interest early in the loan. The customer has made the equivalent of 40 monthly payments on her Contract which has a term of 72 months. Payment extensions and paying late (after the due date) cause additional accrued interest and more of each payment to be taken up by interest and late fees and not available to apply to principal. An explanatory document entitled “Simple Interest FAQ” is attached which will further explain how simple interest works.

In addition, as stated in Simple Interest FAQ, to reduce interest costs and help reduce principal balance, the customer may desire to make lump sum payments (in addition to her monthly payments). Any payment overage will automatically apply to principal once the accrued interest and any unpaid late fees are paid. Gradually over the 72-month term, as the customer makes regular on-time full monthly payments (with no further extensions) principal balance will be reduced and less of each payment will apply to interest and more to principal.

If a customer pays strictly according to the payment schedule, some of every payment (except the first payment) will be available to apply to principal, after accrued interest is paid. However, if a payment is one, two, or more days late, additional interest has accrued, causing more of the next payment to apply to interest and less or none to be available to pay down principal.

Currently the account is 13 days past due for $490.31. The past due amount includes $23.35 in late fees. We encourage Ms. ******* to call ACA at ************ to make arrangements to bring the account current.

A positive customer experience is a top priority for ACA, as stated in our mission and values. If Ms. ******* has any questions, she may contact Karen R. at ************ or ******************************.

Keith K.
Customer Experience Manager
Initial Complaint
06/26/2024
Complaint Type:
Billing Issues
Status:
Answered
The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
I received a copy of my credit report from the 3 reporting agencies, and I noticed 3 late payments posted on my credit report dating September 2023, October 2023, and December 2023 I HAVE NEVER BEEN LATER ON THIS ACCOUNT. I was never late on this account. Please show me documentation showing proof of a transaction showing I was ever late to support your inaccurate reporting on my account. Not only are they in violation they are reporting different information to each agency. If you cannot supply this, please DELETE this alleged late payments from my credit report per 15 USC §1681b. ACA is in clear violation of the law. Under 15 USC §1681b - permissible purpose of consumer reports, THE LAW CLEARLY STATES: (a) IN GENERAL Subject to subsection (c) any consumer reporting agency may furnish a consumer report under the following circumstances and no other: (2) In accordance with the written instructions of the consumer to whom it relates. Did I give you written instructions to furnish this on my credit report? Furthermore, the FAIR CREDIT REPORTING ACT 15 USC §1681(2)(a)(i) Exclusions from a consumer credit report clearly states: (2) EXCLUSIONS. —Except as provided in paragraph (3), the term "consumer report" does not include - (A) Subject to section 1681s-3 of this title, any— (i) report containing information solely as to transactions or experiences between the consumer and the person making the report. on 6/25/23 at 2:24 pm eastern standard time and let the representative know I was recording the phone call. I made the company aware of the violations/law they were breaking. The rep acknowledged that they were reporting late transactions and will continue to do so. Im not sure if this company has some sort of relationship with the Credit reporting agencies to report transactions but I will be seeking legal actions against this company, for which I will be seeking $1000 per violation for: 1. Defamation of character 2. Negligent enablement of identity fraud
Business response
07/09/2024
This is to serve as a formal response by American Credit Acceptance, LLC (“ACA”) to the complaint filed by ***** ******* with the BBB case number *********

An investigation of the customer’s account determined *** ***** ****** ******* and ****** ***** signed a Retail Installment Contract on 10/27/2020 with ****** ***, for the purchase of a 2019 Ford Expedition MAX. The contract was assigned to ACA.

ACA has no record of speaking with *** ******* on 6/25/2023.

ACA appreciates the opportunity to explain how monthly payment history is reported to the credit bureaus. ACA reports payment history based on current or past due status at the end of each month. An account which is 0 to 29 days past due at the end of the month will report as “current.” An account which is 30 to 59 days past due at the end of the month will report as “30+ late.” An account which is 60 to 89 days past due at the end of the month will report as “60+ late.”

The account reported 30+ days past due on 12/2023, 10/2023, and 9/2023.

ACA reports to the credit bureaus how the customer has paid. ACA is required to furnish accurate information to the credit bureaus.

A positive customer experience is a top priority for ACA, as stated in our mission and values. If *** ******* has any questions; she may contact Karen R. at ************ ** *******************************

Keith K.
Customer Experience Manager
Business response
07/09/2024
This is to serve as a formal response by American Credit Acceptance, LLC (“ACA”) to the complaint filed by ***** ******* with the BBB case number *********

An investigation of the customer’s account determined *** ***** ****** ******* and ****** ***** signed a Retail Installment Contract on 10/27/2020 with ****** ***, for the purchase of a 2019 Ford Expedition MAX. The contract was assigned to ACA.

ACA has no record of speaking with *** ******* on 6/25/2023.

ACA appreciates the opportunity to explain how monthly payment history is reported to the credit bureaus. ACA reports payment history based on current or past due status at the end of each month. An account which is 0 to 29 days past due at the end of the month will report as “current.” An account which is 30 to 59 days past due at the end of the month will report as “30+ late.” An account which is 60 to 89 days past due at the end of the month will report as “60+ late.”

The account reported 30+ days past due on 12/2023, 10/2023, and 9/2023.

ACA reports to the credit bureaus how the customer has paid. ACA is required to furnish accurate information to the credit bureaus.

A positive customer experience is a top priority for ACA, as stated in our mission and values. If *** ******* has any questions; she may contact Karen R. at ************ ** *******************************

Keith K.
Customer Experience Manager
Customer response
07/10/2024
Better Business Bureau:

I have reviewed the response made by the business in reference to complaint ID ********* and have determined that this does not resolve my complaint.

It’s very sad that American Credit Acceptance would get on here and blatantly lie just to try and save face. Where you call this ACA it says “All calls are subject and monitored for quality assurance” which is also letting me know they have prerecorded agent deceive its consumers. How can you not have a record of speaking to a PAID consumer yet I ***** I have a recording of speaking with a representative of ACA????? I recorded my phone conversation with the representative I spoke to and I let them know that as well before we continued the conversation, as I do with any other business. For them to give this lousy response lets me know they are use to deceiving it’s consumers and are use to getting away with it.

Regards,

***** *******
Customer response
07/10/2024
Better Business Bureau:

I have reviewed the response made by the business in reference to complaint ID ********* and have determined that this does not resolve my complaint.

It’s very sad that American Credit Acceptance would get on here and blatantly lie just to try and save face. Where you call this ACA it says “All calls are subject and monitored for quality assurance” which is also letting me know they have prerecorded agent deceive its consumers. How can you not have a record of speaking to a PAID consumer yet I ***** I have a recording of speaking with a representative of ACA????? I recorded my phone conversation with the representative I spoke to and I let them know that as well before we continued the conversation, as I do with any other business. For them to give this lousy response lets me know they are use to deceiving it’s consumers and are use to getting away with it.

Regards,

***** *******
Business response
07/23/2024
ACA apologizes, *** ******* is correct she did speak with ACA on 6/25/2023.   ACA takes all customers complaints seriously and values its customers’ business. Accordingly, we have thoroughly reviewed *** ********* complaint and ACA account.

ACA appreciates the opportunity to explain how monthly payment history is reported to the credit bureaus. ACA reports payment history based on current or past due status at the end of each month. An account which is 0 to 29 days past due at the end of the month will report as “current.” An account which is 30 to 59 days past due at the end of the month will report as “30+ late.” An account which is 60 to 89 days past due at the end of the month will report as “60+ late.”

The account reported 30+ days past due on 12/2023, 10/2023, and 9/2023.

Creditors do not need permission from customers to report to the credit bureaus. ACA informs customers that we may report information about their account to the credit bureaus in the Welcome Letter and in monthly statements, (see Welcome Letter copy attached).

In addition, ACA reports all account conditions, including monthly payment history, account balance, and account delinquency, where applicable. ACA is permitted to furnish information regarding her account to the credit bureaus but is required by law to furnish accurate information.

ACA’s Credit Disputes Department confirmed that the reporting for the account is accurate and will not be removed nor deleted from credit reporting.
Business response
07/23/2024
ACA apologizes, *** ******* is correct she did speak with ACA on 6/25/2023.   ACA takes all customers complaints seriously and values its customers’ business. Accordingly, we have thoroughly reviewed *** ********* complaint and ACA account.

ACA appreciates the opportunity to explain how monthly payment history is reported to the credit bureaus. ACA reports payment history based on current or past due status at the end of each month. An account which is 0 to 29 days past due at the end of the month will report as “current.” An account which is 30 to 59 days past due at the end of the month will report as “30+ late.” An account which is 60 to 89 days past due at the end of the month will report as “60+ late.”

The account reported 30+ days past due on 12/2023, 10/2023, and 9/2023.

Creditors do not need permission from customers to report to the credit bureaus. ACA informs customers that we may report information about their account to the credit bureaus in the Welcome Letter and in monthly statements, (see Welcome Letter copy attached).

In addition, ACA reports all account conditions, including monthly payment history, account balance, and account delinquency, where applicable. ACA is permitted to furnish information regarding her account to the credit bureaus but is required by law to furnish accurate information.

ACA’s Credit Disputes Department confirmed that the reporting for the account is accurate and will not be removed nor deleted from credit reporting.
Customer response
07/24/2024
Better Business Bureau:

I have reviewed the response made by the business in reference to complaint ID ********, and have determined that this does not resolve my complaint.
ACA is infact reporting inaccurate information and according to the law has to be removed.
They will eat their words. WATCH

Regards,

***** *******
Customer response
07/24/2024
Better Business Bureau:

I have reviewed the response made by the business in reference to complaint ID ********, and have determined that this does not resolve my complaint.
ACA is infact reporting inaccurate information and according to the law has to be removed.
They will eat their words. WATCH

Regards,

***** *******
Initial Complaint
06/25/2024
Complaint Type:
Billing Issues
Status:
Answered
The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
On May 20th I requested a Pay off quote. The qutoe from them $22,259.32 that was good till May 30th. The Check was Delivered June 1st and cleared the account on June 6th. We are now on June 24th and the check ha NOT be attached to the account . They are saying they haven't got the check. However my attorney has the cleared check,. It was cleared on August 6th to a ********** account ********** elecronically deposited on ******** When I call 3 times I have been hung up once and the other one a Manager was going to call me back so her and my attorney could talk to find this check, She didnt call me back. I called and was hung up I dont have a scanner at home but i would be happy to scan document at work They are saying I still owe, 900 and it keeps adding so much a day plus a late fee when IM NOT LATE and we mailed the pay off amount Plus this is also going to affect our credit cause your showing we are late
Business response
07/11/2024
This is to serve as a formal response by American Credit Acceptance, LLC (“ACA”) to the complaint filed by ******** ******* with the BBB case number ********.

An investigation of the customer’s account determined ******** ****** ******* and ***** *** ******* signed a Retail Installment Contract on 8/5/2022 with ******, for the purchase of a 2015 ****** *****. The contract was assigned to ACA.

On May 16th ACA sent Ms. ******* a ten day pay off quote to the email address on file which matches the email address on the BBB Complaint.

ACA received the payoff check on 6/7/2024 in the amount of $22.259.32. The check was placed in suspense due to no identifying information on the check.   ACA was able to locate the payoff check on 7/2 and process the check back dating it to 6/7/2024.
The customer’s account now has a zero balance.

The tile is an electronic title, it be released to the state of Georgia on 7/19/2024. The state of Georgia will send the title to the customers at the address on file which matches the address on the BBB complaint.

A positive customer experience is a top priority for ACA, as stated in our mission and values. If the customers have any questions, they may Karen R. at ************ or ******************************.

Keith K.
Customer Experience Manager
Initial Complaint
06/18/2024
Complaint Type:
Service or Repair Issues
Status:
Answered
The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
I lost my job and can’t afford my car anymore I ask fir them to pick this car up it’s been over a month now no sign of anyone call they give you the run around I look online and there adding late fees and penalties all while they not picking this car up I called befor 30 days it’s now 81 days I’m not paying them late fees they need to come get this car asap
Business response
07/03/2024
This is to serve as a formal response by American Credit Acceptance, LLC (“ACA”) to the complaint filed by ****** ******* with the BBB case number ******** *

ACA has reached out to the *** ******** by phone and have been able to speak with him. ACA apologizes for the confusion this situation caused. An investigation of the customer’s account determined ****** *** ******** signed a Retail Installment Contract on 3/16/2019 with ******, for the purchase of a 2016 Chevrolet Impala. The contract was assigned to ACA.

On 5/15/2024 the customer informed ACA he was unable to continue making payments. *** ******* informed ACA he would like to voluntary surrender the vehicle. The vehicle was repossessed on 6/28/2024.

The vehicle will be sold at auction. If there is a deficiency balance *** ******* will be responsible. The customer may contact the settlement department at ************ to settle for less than the amount owed.

A positive customer experience is a top priority for ACA, as stated in our mission and values. If *** *******, has any questions, he may contact Karen R. at ************ ** ******************************.

Keith K.
Customer Experience Manager
Initial Complaint
06/18/2024
Complaint Type:
Billing Issues
Status:
Answered
The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
For three months I have been trying to resolve a payment issue with American credit Acceptance. For three months I have been dealing with the same person "Kayla" is what she calls herself. This person has played a game and will not give information needed to resolve a case that should have been resolved months ago. My vehicle has been repossessed due to the lack of cooperation from ACA. When asked to speak to her immediate supervisor she claims she have none or puts me on hold and comes back herself but uses a different name. This is bad business behavior. She is playing with my lively hood and my mental stability. All I need is to be contacted by someone other than her that can resolve my issue. Please have someone contact me so that I can resolve this issue.
Business response
06/27/2024
This is to serve as a formal response by American Credit Acceptance, LLC (“ACA”) to the complaint filed by ***** **** with the BBB case number *********

An investigation of the customer’s account determined *** ***** **** **** **** signed a Retail Installment Contract on 3/21/2019 with ******* for the purchase of a 2016 Dodge Dart. The contract was assigned to ACA.

The vehicle was repossessed on 2/16/2024 at 75 days past due for $1,271.87. *** **** processed two payments on 2/18/2024 for $1,271.87 and $443.70 to redeem the vehicle. Both payments were charged back through the customers bank on 3/13/2024.
On 3/29/2024 *** **** informed ACA she suspected fraudulent activity with her banking account and was working with her bank to resolve the issue. *** **** processed a payment on 4/04/2024 for $200.00 via debt. On 4/17/2024 *** **** processed a payment for $500.00 via debit.

The vehicle was repossessed on 6/17/2024 at 166 days past due for $2,357.61.

The customer is welcome to reach out to ***** *** ** ************ to resolve the issue with the charge back payments.

*** **** may also contact the reinstatement department at ************ before 7/05/2024 if she is interested in redeeming the vehicle.

A positive customer experience is a top priority for ACA, as stated in our mission and values. If *** **** has any questions, she may contact Karen R. at ************ or *******************************

Keith K.
Customer Experience Manager
Initial Complaint
06/17/2024
Complaint Type:
Billing Issues
Status:
Answered
The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
They continue to report to my credit report after they told me they’d remove the account because they could not verify the account. But yet they’re still reporting the Charged off account/ closed account to my credit report.
Business response
06/27/2024
This is to serve as a formal response by American Credit Acceptance, LLC (“ACA”) to the complaint filed by ******** **** with the BBB case number ********

An investigation of the customer’s account determined **** ** ***** and ******** ******* **** signed a Retail Installment Contract on 6/11/2021 with ****** (Contact Attached), for the purchase of a 2015 Hyundai Sonata. The contract was assigned to ACA.

ACA’s call record indicate *** **** was not told the account would be removed from his credit report. The last payment received was on 11/10/2023 in the amount of $477.44 that payment paid the account through 8/26/2023. The account charged off on 1/30/2024 after reaching 120 days past due. Both parties remain responsible for the remaining balance on the account.

ACA reports to the credit bureaus how the customer has paid. ACA is required to furnish accurate information to the credit bureaus.

Currently the account is 275 days past due for $4,865.54. We encourage the customers to call ACA at ************ to make arrangements to bring the account current.

A positive customer experience is a top priority for ACA, as stated in our mission and values. If the customers have any questions, they may contact Karen R. at ************ or ******************************.

Keith K.
Customer Experience Manager
Initial Complaint
06/13/2024
Complaint Type:
Billing Issues
Status:
Answered
The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
I do not have a contract with American Credit Acceptance. I was informed that this account would be removed from my credit report and that I am not liable for it. Since the account is paid in full, I kindly request its removal from my credit report.
Business response
06/27/2024
This is to serve as a formal response by American Credit Acceptance, LLC (“ACA”) to the complaint filed by ******* ***** with the BBB case number ********.

An investigation of the customer’s account determined ******* ***** signed a Retail Installment Contract on 3/15/2014 with ***** **** ****** **** for the purchase of a 2000 Lexus RX 300-V6. The contract was assigned to ACA.

The customer vehicle was repossessed on 10/02/2018 at 80 days past due. *** ***** paid $1, 808.76 to redeem the vehicle on 10/10/2018, this amount paid off the loan.

ACA’s call record indicate *** ***** was not told her account would be removed from the credit report. ACA reports to the credit bureaus how the customer has paid. ACA is required to furnish accurate information to the credit bureaus.

A positive customer experience is a top priority for ACA, as stated in our mission and values. If *** ***** has any questions, she may contact Karen R. at ************ ** *******************************

Keith K.
Customer Experience Manager
Customer response
06/28/2024
Better Business Bureau:

I have reviewed the response made by the business in reference to complaint ID ********, and have determined that this does not resolve my complaint.

[To assist us in bringing this matter to a close, Please let us know below why you are rejecting the offer made by the business.]
Under the Fair Credit Reporting Act (FCRA), I am entitled to an accurate and fair credit report. I am requesting that the erroneous repossession entry be removed from my credit report immediately. There is no reason for it to still be there. I am disputing this matter because it is preventing me from obtaining any type of credit. I have paid off this account, which has been open since 2014. I do not agree with the current situation.
Regards,

******* *****
Business response
07/10/2024
The customer vehicle was repossessed on 10/02/2018 at 80 days past due. *** ***** paid $1, 808.76 to redeem the vehicle on 10/10/2018, this amount paid off the loan.

ACA reports to the credit bureaus how the customer has paid. ACA is required to furnish accurate information to the credit bureaus.
Initial Complaint
06/12/2024
Complaint Type:
Billing Issues
Status:
Answered
The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
Dear Better Business Bureau, I am writing to submit a formal complaint against AMERICAN CREDIT ACCEPT due to an unauthorized account listed on my credit report. Despite several attempts to resolve this matter directly with AMERICAN CREDIT ACCEPT , the account remains on my report. Here are the details of the disputed account: Creditor Name: AMERICAN CREDIT ACCEPT Opening Date: 06/24/2017 Account Number: ***************** I have not authorized or opened this account with AMERICAN CREDIT ACCEPT , and its continued presence on my credit report is negatively impacting my credit score and financial standing. It is imperative that AMERICAN CREDIT ACCEPT address this issue promptly to correct the error and prevent future occurrences.
Business response
06/25/2024
This is to serve as a formal response by American Credit Acceptance, LLC (“ACA”) to the complaint filed by ******* ******* **** with the BBB case number *********

An investigation of the customer’s account determined ******* **** ******* signed a Retail Installment Contract on 6/24/2017 with ******* for the purchase of a 2016 Hyundai Accent. The contracts were assigned to ACA.

ACA appreciates the opportunity to explain how monthly payment history is reported to the credit bureaus. ACA reports payment history based on current or past due status at the end of each month. An account which is 0 to 29 days past due at the end of the month will report as “current.” An account which is 30 to 59 days past due at the end of the month will report as “30+ late.” An account which is 60 to 89 days past due at the end of the month will report as “60+ late.”

The account reported 30+ days past due on 8/2018. The account reported 60+ days past due on 10/2018 and 9/2018.

ACA reports to the credit bureaus how the customer has paid. ACA is required to furnish accurate information to the credit bureaus.

As a one-time courtesy, ACA is adjusting the late mark for 10/2018, 9/2018, and 8/2018, to neutral, which is not derogatory.

A positive customer experience is a top priority for ACA, as stated in our mission and values. If *** **** has any questions; she may contact Karen R. at ************ ** *******************************

Keith K.
Customer Experience Manager
Initial Complaint
06/12/2024
Complaint Type:
Billing Issues
Status:
Resolved
The complainant verified the issue was resolved to their satisfaction.
In 2023, I filed for Chapter 13 bankruptcy, which included my vehicle financed by American Acceptance Corporation. When I bought the car in 2022, I lived in Texas. Later that year, I moved to Shreveport, Louisiana, and needed to transfer my license and tags to Louisiana. To do so, I required the lien holder to send a copy of the title to the state of Louisiana. Despite repeated attempts over several months, the company insists that they will only release my vehicle's title to Louisiana if I make a $10,000 payment on my account. I have explained multiple times to the company employees that I am currently in a Chapter 13 bankruptcy, and my repayment plan is up to date. Therefore, I should not be required to pay $10,000 for my title to be sent to Louisiana for vehicle registration. The company is still responsible for providing the title to the state. This situation is causing me to incur additional fees, and since my Texas plates have expired, I may receive a ticket.
Business response
06/25/2024
This is to serve as a formal response by American Credit Acceptance, LLC (“ACA”) to the complaint filed by ****** ******** with the BBB case number *********

An investigation of the customer’s account determined ****** ***** ****** signed a Retail Installment Contract on 11/23/2021 with ******, for the purchase of a 2015 BMW 3 Series. The contract was assigned to ACA.

ACA apologizes for any inconvenience or confusion this may have caused *** *********

*** ******** filed Chapter 13 bankruptcy on 8/25/2023.

The copy of the title was sent to the Louisiana DMV on 6/25/2024.

A positive customer experience is a top priority for ACA, as stated in our mission and values. If *** ******** has any questions; she may contact Karen R. at ************ ** *******************************

Keith K.
Customer Experience Manager
Customer response
06/25/2024
Better Business Bureau:

I have reviewed the response made by the business in reference to complaint ID ********, and have determined that this does not resolve my complaint.

[To assist us in bringing this matter to a close, Please let us know below why you are rejecting the offer made by the business.]

Regards,

****** ********
Customer response
06/25/2024
Good Afternoon:
Thank you for your attention. Even though the title has been sent to Louisiana, I still feel American Acceptance Corporation should be responsible for any late registration fees I incur due to this matter. I appreciate the information finally being sent, however it does not remove any penalties for me.
Business response
07/09/2024
*** ******** would need to send documentation reflecting the late fees accrued due to the late registration to *******************************
After receiving the requested documentation, it will be reviewed, and a decision will be made regarding the fees.
Customer response
07/11/2024
[A default letter is provided here which indicates your acceptance of the business's response. If you wish, you may update it before sending it.]

Better Business Bureau,

I have reviewed the response made by the business in reference to complaint ID ********* and find that this resolution is satisfactory to me.

Regards,

****** ********
Initial Complaint
06/11/2024
Complaint Type:
Billing Issues
Status:
Answered
The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
I am being charged a really high fee for my car loan after I finished paying my last payment . Now they will not give me my pink slip because of the fee . It’s almost $5,000 more . They said it’s part of the 3 extensions I requested during the 6 years of payments. I have paid more than $40 thousand plus $10 thousand on fixing it . I feel like they are charging me more than what I should have paid and should be paying. I just want to do what is fair for me and for anyone else who they have done this too.
Business response
07/03/2024
This is to serve as a formal response by American Credit Acceptance, LLC (“ACA”) to the complaint filed by ******* **** with the BBB case number *********

An investigation of the customer’s account determined. ******* ****** ******** **** a Retail Installment Contract on 7/25/2018 with ******, for the purchase of a 2011 Ford Explorer. The contract was assigned to ACA.

Whenever *** **** makes a payment, ACA applies the payment to the accrued interest first, then principal. Interest accrues daily and is based on the current principal balance, the APR of 28% the number of days over which interest has accrued. The principal balance is highest at the beginning of the loan, so more of the payment is taken up by interest early in the loan. The customer has made the equivalent of 64 monthly payments on his Contract which has a term of 66 months. Three payment extensions and paying late (after the due date), caused additional accrued interest and more of each payment to be taken up by interest and late fees and not available to apply to principal.

If a customer pays strictly according to the payment schedule, some of every payment (except the first payment) will be available to apply to principal, after accrued interest is paid. However, if a payment is one, two, or more days late, additional interest has accrued, causing more of the next payment to apply to interest and less or none to be available to pay down principal.

*** **** did not pay off her loan as stated in her complaint. The customer has made an equivalent of 65 payments.

The outstanding balance on the account is due to the loan matured 2/08/2024. This maturity date is due to payment extensions and late payments.

The customer’s loan matured on 2/08/2024, ACA was able to provide *** **** with an End-Of-Loan (EOL) modification agreement, which will enable her to pay off his account by continuing monthly payments until the account is paid in full. Alternatively, she can pay off the remaining balance via a lump sum payment. Entering an End-Of-Loan modification agreement is not mandatory, but it is the only way to pay off the account via monthly payments after the maturity date has passed.

A positive customer experience is a top priority for ACA, as stated in our mission and values. If *** **** has any questions, she may Karen R. at ************ ** *******************************

Keith K.
Customer Experience Manager

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