Credit Acceptance Corp I paid off my loan in June and they sent me the title. In Aug. I received a bill for $1181.40. Detroit, Michigan
I paid off my auto loan in June of 2012. In August, I received a bill for over $1100.00. I own the title. they sent it to me in July. What do I do?
1 Updates & Rebuttals
Jim
Orlando,Florida,
USA
What Does The Bill Say?
#2Consumer Comment
Sat, August 18, 2012
In all probability the bill is for late fees and additional interest. if you made payments late, that generates additional interest. This is a subprime lender with a high interest rate. It doesn't take long to run up huge additional interest charges along with late fees. This would have been explained in the contract and/or Late notice notifications. However, the FIRST step is reading the invoice to see exactly what the amount is for.