• Report: #1086258

Complaint Review: Credit Acceptance of Southfield

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  • Submitted: Sat, September 21, 2013
  • Updated: Sat, September 21, 2013

  • Reported By: d12m02k59 — Waterford Michigan
Credit Acceptance of Southfield
25505 W. 12 Mile Rd., Southfield, Michigan USA

Credit Acceptance of Southfield predatory loan, threats made during calls, will not send written confirmation of arrangements made by phone Southfield Michigan

*Consumer Comment: Steve, the consumer can choose to finance elsewhere

*General Comment: Credit Acceptance does prey

*Consumer Comment: Much To Learn

*Consumer Comment: Wow..

*Author of original report: You Know Nothing and Should Say Nothing

*Author of original report: People Like You Disgust Me

*Consumer Comment: No, Pay The Bills ON TIME and READ THE CONTRACT!

*Consumer Comment: Threats?

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 I co signed for my then 18 yr old daughter on a car.  Credit acceptance provided the financing.  The original papers showed 12.99% interest.  We paid a 1000.00 down.  When we picked up the car the next day we were asked to re sign papers.  The interest rate went to 24.99 %, ( we did not catch this till after we left the dealership).  Since then, I have received multiple calls a day from them when my daughter is late with a payment.  I answer the calls.  Threats ae made to me if I do not make the payment.  They will not discuss payment arrangements made with my daughter with me.  They will not follow up conversations when arrangements are made in writing.  This company targets those with the most need to get on their feet with predatory lending practices.  The online payment system is so slow that they took a car as Western Union had not processed the payment that had been made.  They access fees without proper documentation of those fees.  They never provide anything in writing.  I have been called upto 9 times a day.  I answer the calls and ask them to not call again that day, and an hour later they call again.  They have numerous numbers they call from, which Shannon stated to me allows them to call once from each number.  This is not acceptable.  If you are in need of a vehicle, please do not use credit acceptance to finance.  Buy a bike, you will be better off.


This report was posted on Ripoff Report on 09/21/2013 08:12 AM and is a permanent record located here: http://www.ripoffreport.com/r/Credit-Acceptance-of-Southfield/Southfield-Michigan/Credit-Acceptance-of-Southfield-predatory-loan-threats-made-during-calls-will-not-send-1086258. 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:
2Author 6Consumer 0Employee/Owner
Updates & Rebuttals

#1 Consumer Comment

Steve, the consumer can choose to finance elsewhere

AUTHOR: FloridaNative - ()

The fact is this: the borrower chose to use Credit Acceptance. Are they a lender that I would go to? No way. But this borrower did in fact choose to borrow the money from Credit Acceptance. Not only that, she agreed to the terms of the loan when she signed the finance agreement. She can't now over ride the written agreement with a verbal "arrangement" with the lender. You can not change a written contract with an oral modification. The lender knows it too.

The solution to this issue is this: Since this borrower can prove that she made each and every payment on time and has all of her receipts to show it, then she can go to another lender to refinance her vehicle with a better loan. That will stop the calls. Of course, if she can't show that she paid ontime with her western union receipts, then she will have a difficult time refinancing with a prime lender. Her best shot is to go to her local credit union with all of her paid receipts and get her refi there.

By the way, the single mother excuse is a poor excuse. You are demeaning your own daughter as not capable when you use her children as a reason why she can't make her payments ontime. (I got that from your post where you said she had to make arrangements for her payments).  Your daughter is a grown woman now with kids of her own. She needs to handle the lender appropriately by paying ontime. She has a responsiblity now to educate not only herself, but her children to do the responsible thing. The last thing she needs is her very own mother saying she isn't capable of handling her own life responsibilities and that's what you convey when you use the "single mother" excuse.

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#2 General Comment

Credit Acceptance does prey

AUTHOR: Steve - ()

We live in the 21st century and Credit Acceptance does business like it was the dark ages. They are a 3 billion dollar company listed on the Nasdaq, ticker name CACC.

1) Credit Acceptance will only give you a 7 day grace period from the time the payment is due. If you haven't made a payment by the 7th day past due, on the 8th day they will put in the paperwork to repocess the car. Credit Acceptance will not work out payment arrangements if you can't make the car payment within the 7 days past due.

2) Credit Acceptance will only accept payments online through Western Union. It takes Credit Acceptance 2 days to accept the payment. If you are on the 6th day into the grace period and pay by Western Union, Credit Acceptance will not accept the payment in time and the car will be put into repocession. You can't make a Bill Pay payment through your bank but they can take money from your bank account through automatic bill pay, that don't make no sense. You can pay by phone but they charge a fee. 

3) If you make a double payment by accident, you will not get reimbursed for that second payment. This usually happens because people don't know that it takes 2 days for Credit Acceptance to accept a payment. The money don't show that it has been taken out of your bank account, so logic is that you make a another payment. 

4) If you move to another state and have to register your car, it will take 18 days for Credit Acceptance to send a copy of the title to the Division of Motor Vehicles in that state.

5) Credit Acceptance don't allow you to view your loan information online, pre 21st century days. You can't view how many payments you made, interest your paying, payoff figure, etc. 

6) Some of the Customer Service Reps don't give you the right information. If your given the wrong information, Credit Acceptance will tell you tough luck. 

7) They charge outragous interest ratees because they prey on people who have bad credit or no credit at all. Thse days it's a choice of having a car or not having a job. 

 

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#3 Consumer Comment

Much To Learn

AUTHOR: Jim - ()

First, the reason they have the PHONEY "F" BOGUS BBB rating is because they haven't yet PURCHASED their "membership" nor their phoney "accreditation".  The BBB is NOT part of any governmental body.  The BBB has absolutely no power to do or enforce anything.  As you go on to write more, we see again and again your daughter, the unwed mother, is a late payer.  There is NO mystery about any "mystery" extra charges. 

Whenever anybody makes their payments late, they generate extra interest.  That statement to that effect is described in that legally binding document you didn't read, called a contract.  Have you ever read the terms and conditions of on line paying?  Do they tell you how long it takes for a payment to post? 

If you make the payment on the due date, does it post the same day?  Somehow I also have the feeling the whole story isn't being told here.  If this SUBPRIME lender was doing as many illegal things you and other deadbeats accuse them of, then the federal regulators would have shut them down years ago. However,  it is interesting most of the whiners about SUBPRIME lenders is by SUBPRIME borrowers who are simply making up stories because they don't like the collections efforts they themselves have "turned on".

 

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#4 Consumer Comment

Wow..

AUTHOR: Robert - ()

That is Better Business Bureau, look them up.

- And look up "BBB Pay for Play" if you want to know all about how great the BBB actually is.

They have literally 1000’s of complaints in the US and Canada.

- Yes they are a Sub-Prime lender and you can bet that a majority of thocse complaints are by people who complain when they are not giving them a "break" or upset that the company is trying to get them to pay their loan.

You call my daughter a deadbeat.  How dare you

- Nope..wasn't me.

All her other bills, rent, elec, gas, insurance, credit cards are paid on time. Credit acceptance would too if they could bother to post the payment when it is received.

- Ummm...Nothing about them not posting payments correctly in your first post.  Well I take that back there was this one cryptic sentence  "The online payment system is so slow that they took a car as Western Union had not processed the payment that had been made."

But most of your report you were talking about was not being told abut the "payment arrangements" your daughter was making.  Well if she is paying them on time and it is just a matter of posting..why is she talking to them about payment arrangements?  Perhaps your daughter isn't telling you the entire story.  Perhaps you should ask to see your daughters statements.

Moreover, they have threatened me not with my credit, or financially, but with my job, my profession. 

- And just how did they do that?  Did they say they would blast you on a public website for not paying the bill?  Were they going to send picketers to your office saying you were a deadbeat?  Please tell us exactly how did they threaten you(this should be good).

BTW * they also do not send a clear title after you pay off the loan. 

- And just how do you know all of this.  Nothing in your intial report or your update states you have paid it off. 

I have cosigned for each of my three children and only had a problem with this company

- Perhaps your other two actually paid their bills.

 

Of course if what you are saying is 100% the truth..why don't you sue them?  

 

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#5 Author of original report

You Know Nothing and Should Say Nothing

AUTHOR: d12m02k59 - ()

Credit Acceptance has an F rating with the BBB.  That is Better Business Bureau, look them up.  They have literally 1000’s of complaints in the US and Canada.  You call my daughter a deadbeat.  How dare you.  She works a full time job.  She goes to school full time.  She cares for her 3 year old son full time.  In addition, she does all of this everyday with three herniated disks in her lower back.  All her other bills, rent, elec, gas, insurance, credit cards are paid on time. Credit acceptance would too if they could bother to post the payment when it is received.

Credit Acceptance does not follow the terms of their own contract.  They cannot post a payment correctly within a timely manner.  They cannot document any calls they make or receive.  They do not know the truth, nor tell the truth.  They call me daily about this car and my daughter shows me the printout from her bank where the payment had been deducted.  They have also received double payments on three occasions over the last 2 ½ years.  Because they threatened to activate the disable switch with a 2 year old in the car, I made an immediate payment to keep my grandson safe.  Only to find out when I spoke with my daughter latter, that she had in fact made the payment.

Moreover, they have threatened me not with my credit, or financially, but with my job, my profession.  I am appalled that you have such a sad life that you can actually go on the internet and call names, and bully a person because they share a bad experience with a company.

I have cosigned for each of my three children and only had a problem with this company.  BTW * they also do not send a clear title after you pay off the loan.  They come up with mysterious fees that supposedly accumulated during the life of your loan.  However, they never can document those fees.  They never mention them during the course of the loan.  I have submitted documents of all payments made to Credit Acceptance from the origination of the loan.  All payments were submitted to them on time.  However, Credit Acceptance has a serious problem posting the payments they receive.  It can take up to 2 weeks to post a payment to the consumers account.  That is unheard of in this technological age. 

A word of advice to you, get a life.  We are sick of people like you who think they are superior, with nothing better to do then judge others.  Leave the judging to a more qualified entity. 

 

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#6 Author of original report

People Like You Disgust Me

AUTHOR: d12m02k59 - ()

Credit Acceptance has an F rating with the BBB.  That is Better Business Bureau, look them up.  They have literally 1000’s of complaints in the US and Canada.  You call my daughter a deadbeat.  How dare you.  She works a full time job.  She goes to school full time.  She cares for her 3 year old son full time.  In addition, she does all of this everyday with three herniated disks in her lower back.  All her other bills, rent, elec, gas, insurance, credit cards are paid on time. Credit acceptance would too if they could bother to post the payment when it is received.

Credit Acceptance does not follow the terms of their own contract.  They cannot post a payment correctly within a timely manner.  They cannot document any calls they make or receive.  They do not know the truth, nor tell the truth.  They call me daily about this car and my daughter shows me the printout from her bank where the payment had been deducted.  They have also received double payments on three occasions over the last 2 ½ years.  Because they threatened to activate the disable switch with a 2 year old in the car, I made an immediate payment to keep my grandson safe.  Only to find out when I spoke with my daughter latter, that she had in fact made the payment.

Moreover, they have threatened me not with my credit, or financially, but with my job, my profession.  I am appalled that you have such a sad life that you can actually go on the internet and call names, and bully a person because they share a bad experience with a company.

I have cosigned for each of my three children and only had a problem with this company.  BTW * they also do not send a clear title after you pay off the loan.  They come up with mysterious fees that supposedly accumulated during the life of your loan.  However, they never can document those fees.  They never mention them during the course of the loan.  I have submitted documents of all payments made to Credit Acceptance from the origination of the loan.  All payments were submitted to them on time.  However, Credit Acceptance has a serious problem posting the payments they receive.  It can take up to 2 weeks to post a payment to the consumers account.  That is unheard of in this technological age. 

A word of advice to you, get a life.  We are sick of people like you who think they are superior, with nothing better to do then judge others.  Leave the judging to a more qualified entity. 

 

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#7 Consumer Comment

No, Pay The Bills ON TIME and READ THE CONTRACT!

AUTHOR: Jim - ()

First off, lets not waste time here.  Because you probably won't like what I have to say, don't bother claiming I work for them, because I don't!  Predatory?  Did you go in or did they capture you and your daughter and force you to sign a contract (WHICH YOU DIDN'T READ) at gunpoint?  Then you wail about the COLLECTIONS efforts because she isn't making payments on time!  The solution is NOT whining about "arrangements".  The solution is for her to get a part-time job to help pay the bills.  As a co-signer, YOU are on the hook with your daughter.  As a parent, it is YOUR JOB to be on her back about meeting her obligations rather than to come here or anyplace  else and stomp your feet, cry, wail and whine about the COLLECTIONS efforts they have had to take because your daughter is a DEADBEAT and you are enabling her by going along with it!

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#8 Consumer Comment

Threats?

AUTHOR: Robert - ()

Could the threats be that if the car isn't paid it will be reposessed and you will still be responsible for balance of the loan?  Because if you co-signed for the loan..it isn't a threat.

When you co-sign a loan you make a legal agreement that if the primary borrower does not fullfill their oblgation..YOU will.  If you fail to do this, you then become responsible for any damage just as if you were the original borrower.  So perhaps instead of complaining about them..perhaps you should be talking to your daughter.  Because if you don't handle it not only will you have a reposession on your credit, but eventually could end up in court being sued for the balance. 

As to them not discussing any arrangements they made with your daughter.  She is an adult and as such they will not discuss this information with you unless she gives them her permission.  But again..if you want to know about the payment arrangments why don't you ask your daughter?

Oh and before you thinking this is unique.  This is exactly what every other finance company would do as well. 

Backing up to the original loan and the Interest rate.  That is an issue with the dealer.  They probably did what is known as a "Spot Delivery" in which they allow you to take the car with certain terms even though the loan hasn't been approved yet.  Now, with most dealers this is a totally legitmate as they know they can get the rate and it won't be an issue.  But with some less than reputable dealers they use this in a different way.  They intentionally give you a rate or other terms that they know you won't be approved for.  They do this so that you take the car, get excited about the car and a few days later when they give you the "bad" news they hope that you like the car so much you just accept what ever they put in front of you.  Unfortunatly  the time to catch this is when you are signing the papers..not after.

 

 

 

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