Complaint Review: Credit Acceptance Corporation - Southfield Michigan

you were 100% right predatory lenders.masters in the art of deception. consumers need to know how this company operates. doing business with cacc just sets a consumer up for heartache and hassle. you are right, everyone in america has the right to make money but not the way this immorally bankrupt company tries to do so.i am hoping that these posts will reach people or they do research on cacc before they sign any contracts with  them. it is not worth it. i got out of my mess but many people are not that fortunate. every dealer that is set up with cacc has to adhere to their policies. the ford dealership that i dealt with used to use cacc for finacing but they don't anymore because of all the unhappy and complaints from customers. they decided that it was not worth it. also the used car dealership that i had purchased my cacc car thru in ohio has closed down. good riddance.

And they do so with a reason. Credit Acceptance Corporation isn't to be faulted for wanting to make a profit. They are to be faulted for predatory lending practices. Lawsuits that have been bought against them were not just by private attorneys, but by the SEC and States' Attorney Generals. They have been accused of lying in court about disclosure of their true financial position and attempting to hide gross accounting irregularities. So, no, I don't feel much pain for them right now. The experiences of some of these folks on this webpage mirror too exactly the experiences of my nephew with Credit Acceptance. In his case, he went to Iraq, and was making payments to CAC via deductions through TruePay. He'd gotten CAC credit before joining the military because he had no credit yet and only worked at his first job as a cashier at a BBQ joint. Once in the military, he doubled his payments. During his second tour, he received a Traumatic Brain Injury (TBI). My sister contacted CAC. They told her that they had a program for active duty soldiers stationed in Iraq whereby they could get their interest lowered drastically and my nephew's normal monthly payment of $340.00--not the doubled amount of $670.00 a month--would be reduced to $162.00. He only had 5 months to pay anyway. My sister made the payments. Well, CAC called her two months after her first three payments of $162.00 telling her that they wanted to talk to my nephew. She explained that she had spoken to someone three months before. They couldn't speak to her. They could only speak to Flint. She had faxed them the Power of Attorney. They had no record. Put Flint on the line. He couldn't even talk! This went on and on. She faxed the records again. In the meantime, the amount my nephew owed went from less than a few hundred to magically over $6,000.00 due to late fees and charges. They accepted her POA. And the lower payments. She still owed over $6,000.00. They wouldn't budge. This went on for months. She had to go to an attorney and get it fixed. She had the money to. But, this is the way they treated a young man that came home broken from a war and that had always payed his bill on time.  

it does not matter if he had contacted cacc because if they had made an agreement they would not have honored it-have you not read any of these complaints? that is the point. also how was his loan approved in thefirst place if he did not have the correct amount of references? also this is true what you said about third party debt collectors.that is how credit acceptance corporation gets around the harrassment law because their of their so-called internal collections. i wish i were a lawyer. also,by law cacc is not allowed to threaten you for payment with that so-called turn-off feature on a car unless there is actually one.also why would they let this person have the car back for one price and then try to hit them up for another fee?he would have been better off dealing with the mafia because at least with them if they are unsatisfied with dealing the results come to an end,with cacc it never ends. people still have rights. another thing, if he did not have the right amount of references when they gave him the car back, why did they give him the car back if he was in violation of his contract? souds to me like a bullying game so that this customer would comply with whatever their demands are. still it is the same story again and again,cacc does not have any record of this conversation,cacc did not receivce payment,poor little  cacc!it is amazing that cacc only has recordable access to everything that benefits them but nothing to benefit the consumer. also another amazing thing is that on cacc's website they have a feedback page and whenever i have tried to log a complaint with all the proper fields required for some reason or another i cannot submit the complaint. why is that?hopeless, milledgeville,ga. but not so hopeless anymore.

Again the "I don't like what you are saying so I am going to say you are an employee so I can ignore everything that you said".  Yep...predictable.  Just as predictable as people REFUSING to take personal responsibility and blame their problems on everybody else.

After all I could say the same thing about you hopeless.  I could say that you are actually an attorney trying to get the "buzz" going to file a Class Action Lawsuit.  After all in the end they are really the only ones who make any money.  Perhaps that is YOUR motiviation.  See...sounds pretty silly doesn't it.

,all you want to say is well you signed a contract,they just want their money

- Your right..how dare a company actually try and hold someone to a LEGAL agreement they signed.  I actually agree with you, you need to spend all of your time picketing in front of their headquarters.  Perhaps you will even get the media to show up.  Of course when you do be sure you bring up the original poster who FAILED to take PERSONAL responsibility when they decided to not contact them.  Because I would be willing to bet, the OP is the type of person who sees how far they can "push things".  That is even though they seemed to have the money, they were going to wait until the absolute last minute before they HAD to pay.  Based on the fact that the OP was with CAC I would not be surprised if they have played this game before as well with other companies.

Unfortunatly, CAC(and you can actually transpose just about any other finance company) has decided to stop playing games, mainly because of the people who try and "game" the system.  

Now, if you can show me one law that says a company can not reposeess a car if it is delinquent please post it.  If you have one law that says a company can not ask for 3 references..PLEASE post it.  If you can show me where a company has to "cease and desist" contacting a borrower just because a letter was written..again please post it.  Now of course I hope you are not thinking of the Fair Debt Collection Practices Act(FDCPA) as that only applies to 3rd Party Collection Agencies.

As I said before the best thing that the OP can do is make sure that the bills are paid on time.  If they have problems contact the company and see if there is anything that can be worked out in ADVANCE.  Depending on the history and current situation they may or may not help.  But you don't know until you try.  This does not apply to just CAC, but ANY creditor.

do you work for credit acceptance robert? i noticed that you have responde to several cacc posts. What is your connection? you do not want to address the legal or should i say the illegal ways of cacc,all you want to say is well you signed a contract,they just want their money. there are still protection laws and methods that a company is suppose to adhere to.what's your deal?

I knew I was behind in payments, but I never received written demand of what they wanted in the way of payment to work out the problem.

- This was YOUR loan and you knew that you were behind.  Instead of waiting for them to contact you, why didn't YOU take the responsibility and contact them to find out what you needed to do to make it current?  From their perspective they have a person who borrowed several thousand dollars, stopped paying and didn't contact them.  What would you think if someone did that to you?  Apparently you had the money to pay them, as you surprisingly came up with the money once they repossessed it.

Then you get upset about when they required 3 contacts and you only had 2.  Keeping in mind again that YOU failed to take the responsibility to contact them in the first place.  You are lucky, there are some companies that require 5-10 contacts.

As for the amount owed, yes it is very possible depending on how late you are that the additional interest and late fees cause your balance to increase if you become delinquent.

You were with them because either you had credit issues in the past, or a lack of credit history.  The only way to avoid them is to get your credit history into a good status.  Becoming late on payments and having your car repossessed is NOT the way to do that.

a class action lawsuit should be filed against credit acceptance corporation! i am the milledgeville,ga post and i just went thru all the same lies and harrassment with cacc that you are going thru except i trade my car off and i am waiting on my wynn's refund. they are rude they lie and they trick you and they break the law! keep every document that you can, keep logs of the phone calls,get them to send you faxes or emails of their statements, send them a certified cease and desist letter and that they have to contact you in writting of their intentions. contact the better business bureau and the ftc whewther it helps or not,it lets them know that you arte researching your rightsa and will continue to do so! we need to schedule a protest outside if their headquarters. people get organized and stand up for your rights. there are suppose to be laws to protect consumers but if we let big business do this to us and do not stand up they will continue to do what they do. contact your states att office and let their nasty mouthed reps know you will do so. also let them know in writing by return receipt cerified mail. they are not allowed to threaten you. let them know that you know what your rights are and that you are not playing games with them. check your credit report and make sure they have been reporting accurately your payment history. i went thru this with them over a late pyment. get control of your life and do not let them bully you that is what they do. i am not joking. i want to leave a contact for myself but i do not know if i;m allowed to do so on this site. i am going to check. read the other posts on cacc. everone haS A SIMILIAR STORY. DO NOT TAKE THEIR CRAP.