Report: #644155

Complaint Review: Credit Acceptance

  • Submitted: Fri, September 24, 2010
  • Updated: Mon, October 04, 2010
  • Reported By: self employed — akron Ohio United States of America
  • Credit Acceptance
    P.O. Box 551888
    United States of America

Show customers why they should trust your business over your competitors...

I was unable to finance through dealership due to self employment (even with documentation).  Seems most banks lump all self employed into 'underemployed' category.  I have a master's degree and teach online as an independent contractor, for the same money I was making working for a state agency.  Ended up going through Credit Acceptance, even though decent credit scored compared to average (630). 

Made my first payment on 17th of the month at dealership, though it was due 22nd. Dealership told me they would send my payment.  Did not tell me that had to send it by mail. On the 24th I called company.  They said never trust dealership to get payment in on time, though they say it takes 'a few days' on their web site.  I now get the beeping every time I start vehicle, to remind me payment is late. 

I have a paypal debit card, as that is how I am paid.  Company not set up to take half of the country's debit cards, so those of us who can't must use western union or money grams.  I believe they are in with these companies and there is some kind of scam going on to benefit western union.  Why should I pay $10 every month to make a payment. 

Of course I did not know of the payment options, or should I say restrictions, until my paperwork was signed. Now I am stuck with this loan.  I wonder, even if I pay on time every month, will I still get this harassing beep.  No creditor should have such restrictions on payors that require you to use high fee services.
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This report was posted on Ripoff Report on 09/24/2010 07:23 PM and is a permanent record located here: 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. Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report. READ: Foreign websites steal our content

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#1 Consumer Comment

How Were They Supposed To Send It???


If they told you the payment was "going to be sent"...How did you expect them to get it there???  Pony Express hand delivery? 

Surely with a Master's Degree you should have at least a little bit of knowledge of how finance works, maybe?  The fact that YOU did not perform due diligence to get the payment to the lender on time is NOT the fault of the lender!  Where is your checking account?  If need be, they could take it right out of that account over the phone! 

Why should you pay $10 a month to make a payment?  Because that's the deal YOU got YOURSELF into!

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#2 Consumer Comment


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

First as to your credit score.  If your score of 630 was a FICO score then yes that is decent but still a little below "average".  If that was a Vantage score(which is starting to be used more), then that is what they consider a "D" or Poor credit rating.  Those are the two most common, so if the dealer used another scoring system you would have to confirm with them how good it actually was.

As to your comment that they are not set up to take "half the countries Debit Cards"..what do you mean by that?  Because if your debit card has a VISA or MC logo it is processed "like" a credit card and does not matter what bank you are with.  However, there are a lot of banks that restrict the transaction limit.  So if for example your payment was $450 and the "limit" was $400 then it would be declined. But that is not the fault of CA but of how Paypal is set up.

Why should I pay $10 every month to make a payment
You don't have to.  If you mail in your payment you don't get charged this fee.  If you don't have a checking account, that is not the fault of CA.

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