• Report: #818421

Complaint Review: Credit Acceptance Corp

  • Submitted: Thu, January 05, 2012
  • Updated: Sat, January 07, 2012

  • Reported By: Jaymibh — Manchester Connecticut United States of America
Credit Acceptance Corp
25505 West Twelve Mile Road Southfield, Michigan United States of America

Credit Acceptance Corp On Dec 27th I called Credit Acceptance Corp (CAC) to stop my auto withdrawl of $239.50 from deducting from my ING bank account. I've been paying on my car loan for a year, but came across financial tr Southfield, Michigan

*Consumer Comment: On Time?

*Consumer Comment: Ridiculous

*Consumer Comment: All One Has To Do Is Read Your Report!

*Author of original report: idiot

*Consumer Comment: Remedies are limited

*Consumer Comment: Amazing

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On Dec 27th I called Credit Acceptance Corp (CAC) to stop my auto withdrawl of $239.50 from deducting from my ING bank account. I've been paying on my car loan for a year, but came across financial trouble this past month. I was transfered to 3 departments and finally spoke with the Payment Department who set up the terms for me to make my next payment on the 17th and said they were canceling my Dec 28th payment. So on Jan 1st I got an email from my bank stating they tried to withdraw anyway and it was returned. My bank warned that if I had too many withdrawls it would result in the closing of my account. I disputed this with my bank, but they were unable to help me through email. So I intened to give CAC a call after the holidays, but they tried the payment again on the 4th. My account was closed after that. When I finally did talk with CAC, I told them what happened. I told them my account was closed because of fraud, and that I would not be able to make the payment on the 17th and that I was filing a claim with BBB. They had nothing to say. They told me that I could do what I had to and they would notate my account. Their attitude was that of "why are you bothing me with this?  What do you want me to do?" They just didn't care. What they didn't realize is that this doesn't make people who do business with them (read reviews about them and I'm not the first one to feel this way) feel comfortable. I don't want to make anymore payments to them. I'm definitely not going back on autopay. And I'm out of a perfectly good interest bearing saving account that I had for 5 years in great standing. That's going to hurt my credit. What can I do as far as reprocussions, etc?

This report was posted on Ripoff Report on 01/05/2012 12:11 PM and is a permanent record located here: http://www.ripoffreport.com/r/Credit-Acceptance-Corp/Southfield-Michigan-/Credit-Acceptance-Corp-On-Dec-27th-I-called-Credit-Acceptance-Corp-CAC-to-stop-my-auto-818421. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.

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REBUTTALS & REPLIES:
1Author 5Consumer 0Employee/Owner
Updates & Rebuttals

#1 Consumer Comment

On Time?

AUTHOR: Robert - (U.S.A.)

You stated.....
I have a great job and pay all my bills on time

Now let me remind you of what you wrote in your original report...
I've been paying on my car loan for a year, but came across financial trouble this past month. I was transfered to 3 departments and finally spoke with the Payment Department who set up the terms for me to make my next payment on the 17th

Is that really your definition of paying ALL of your bills ON-TIME?

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#2 Consumer Comment

Ridiculous

AUTHOR: CollegeMom - (United States of America)

That's interesting, I had no problem when I called to cancel my auto payment. A responsible adult with a loan wouldn't wait until the day before payment's due to cancel it. Every time I call and speak with a Rep they're always helpful, not interested in my sitatuion or bothered by it. I wouldn't expect them to be. The first comment is exactly right when saying 1,2,3 days isn't enough time to cancel auto-pay. It would occur on your next billing cycle. 
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#3 Consumer Comment

All One Has To Do Is Read Your Report!

AUTHOR: Jim - (USA)

You want to throw around the word "idiot"? How's this for an example..."file a claim with the BBB! Please tell us what government agency the BBB is part of. Is the BBB going to garnish the lender? Are people in BBB uniforms going to arrest the lender's officers? Should I be watching the news tonight for the story? Go ahead IDIOT answer those questions! And no, neither I nor any of the others work for the lender.
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#4 Author of original report

idiot

AUTHOR: Jaymibh - (United States of America)

Great. I was waiting for some idiot to respond, and my wishes have been answered... One day IS enough time to cancel an auto pay dumb a*s. You know nothing. I have a great job and pay all my bills on time unlike you who suits by a computer with nothing better to do than waste time trying to make peoples lives miserable. Understand? Great.
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#5 Consumer Comment

Remedies are limited

AUTHOR: Flynrider - (USA)

"  What can I do as far as reprocussions, etc?  "

   Sadly, this is one of the hazards of giving ANY company free access to your bank account.  

   When you go to the grocery store and the checkout person tells you what your total is, you don't normally hand over your wallet and trust they they'll extract the right amount of cash.   Unfortunately, that's exactly what you're doing when you give a company permission to directly debit a bank account.   As far as the bank is concerned, you're responsible for any mistakes that company makes (i.e. overdrafts, etc...), because you authorized their access.      

   Your remedies are limited to convincing the company that made the mistake to make good on it.   If the posts on this site are any indication, most will not.   Your only real recourse would be to sue them.  
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#6 Consumer Comment

Amazing

AUTHOR: Robert - (U.S.A.)

Another Sub-Prime lender who doesn't understand that they made a legal agreement to make payments ON-TIME every time.  Then when they don't pay they want to know what recourse THEY have against the lender for trying to hold them to the agreement.  If it wasn't so sad that people actually believed this it would be laughable.

Here are some facts.  You tried to cancel the Auto payment less than 1 day before it was to be withdrawn.  This is generally NOT enough time to cancel as it was probably already in process, especially if you did it later in the day on the 27th.

Next a bank is not going to close a Savings Account for 1(or even 2 or 3) withdraws.  So if it was closed for excessive withdraws that is not the financing companies fault..that is on you.

The real kicker is that if they closed your account there is nothing keeping you from opening up a Savings Account at another bank.  Also, for someone who is having issues making your payments worrying about your credit report should be the least of your concerns.

What can I do as far as reprocussions, etc?
- So to answer this question the answer is really simple...Pay your bills ON TIME.
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