Credit Acceptance Corporation Very Wrong Reposession Southfield Michigan

If I am reading your compliant correctly at the time of repossion you were 3 months deliquent (july, august, & sept) as well as it appeared that you had 2 NSF's. GMAC uses True Pay as well and they sometimes mis-speak about their capabilites. However by your own admission you stated you were advised that the reason for the 2nd NSF was b/c when True Pay went to debit the account the account could not be located. Which means that the financial institution most likely does not allow ACH debits which is not unheard of for the "pre-paid" like atm cards. Credit Acceptance was within their rights to ask for guarnteed funds when payments are returned from a financial institution consecutively no matter what the reasoning behind the returned payment was.

I can tell you the person that told you to mail a money order was wrong. Again if I am understanding your story at this point your account was approaching 90 days deliquent and with any finance company your car would have been scheduled for repossion without guarnteed funds (i.e. Western Union or Money Graham) and being 3 months past due (and your payment coming due just a few days before does not matter 3 payments past due is 3 payments past due).

I would like clarifcation though, why did you just not mail a money order earlier (i.e. july or early august)? You are blaming the finance company for you not seeking alternate methods to insure the payment was made in a timely manner. At best I would think by mid-august you should have made the decision to stop spinning your wheels and just mail a money order or send a western union or money graham payment when advised. You sealed your own fate when you decided you were going to mail a money order on an account that was as deliquent as yours was. By your own admission you were advised on at least 2 occasions to send guarnteed funds and you decided not to.

Of course being a victim of ID theft was not your fault but failure to pay in a timely manner is your fault. Once the car is repossed you are responsible for the fees associated with the repossion. Per the contract that was signed states that the payments are considered past due if not recieved on the due date and legally a finance company can repo a car account is one day past due (depending on the state). I further do not understand why you feel you should recieve a refund of your security deposit and monthly payments paid until the car was repoed. You had full usage of the car as a matter of fact you had full usage of the car for more time than you actually paid for. I think that you were a victim of miscommunication but there were things you could have done to prevent the repossion from happening so I would be really surprised if any judge would rule in your favor (if you do please tell me their name and location) and if you have the money to pay for an attorney why not just pay what is owed and get the car back.
Because you were in actuallity late with your payments for whatever reason your account was still deliquent and therefore the credit bureaus will most likely not remove the negative information but I would give it a try.

Credit Acceptance was not preditory lending you did not quailfy for tradional financing due to poor credit history or a lack of credit history. I have seen thier retail installment contract and it is very clear and straight forward especially compared to some other contracts I have seen where you really need a dictionary at your side to make sense of them. You knew you had payments that were past due and you resolved it in the manner in which you wanted to and in your case you made a decision that was ended up having an adverse effect for you.

I do think the dealership was wrong for telling you that you had to sign up for auto-debits I am not aware of that being a stipulation of financing contracts but I could be wrong. That was just really odd but it really would not matter if they had you set up on autodrafts or not. Had you been a victim of ID theft any way you I can't see your outcome being any different because you were advised of alternate payment methods.

Clearly there was some miscommunication or a lack of communication but at the end of the day your payments were 3 months behind and it most likely appeared to the persons repsonsible for issuing reposseion orders that you were not going to pay. I have researched a wide variety of lenders and when you get to the sub-prime market there are indicators that are used to determine if collateral is at risk. And from reading what you wrote and looking at it from the business side and knowing what I know about how these businesses work I am almost certian the your account was viewed as if the collateral was in danger and therefore they opted to take action.

Hopefully this helps you and I wish you all the best. I am really interested to know how this all turns out for you.

I must say I know how you feel! I am Joleen in the report below you. People think we are crazy by the way they reply. The next thing to expect is garnishment of your pay check for both you and your daughter. They will serve you papers from some far away town. Plus that $7000.00 vehicle will now be more like $16000.00
I hope for your sake not, but our stories are close but, different. Good Luck Joleen

I must say I know how you feel! I am Joleen in the report below you. People think we are crazy by the way they reply. The next thing to expect is garnishment of your pay check for both you and your daughter. They will serve you papers from some far away town. Plus that $7000.00 vehicle will now be more like $16000.00
I hope for your sake not, but our stories are close but, different. Good Luck Joleen

I must say I know how you feel! I am Joleen in the report below you. People think we are crazy by the way they reply. The next thing to expect is garnishment of your pay check for both you and your daughter. They will serve you papers from some far away town. Plus that $7000.00 vehicle will now be more like $16000.00
I hope for your sake not, but our stories are close but, different. Good Luck Joleen

""Installments past due: $511.28""

They have since decided that they require a cash bond/deposit to continue your loan. This deposit was probably not figured into your discussion with them when they repossessed the vehicle.

I thought I should add that today (September 22, 2008),when I got the mail, there was a letter from Credit Acceptance Corporation that states the following "As of the date of this notice, the amount you are required to pay to cure your default is: Installments past due: $511.28, Unpaid delinquency or deferred charges: $39.93, Reposession expenses: $25.00, Cash deposit or bond: $511.28, Total due: $1087.54. My concern: when I called them for the millionth time on Thursday when they picked up the car, I was told $795.00. How did it go up over $500.00 in a matterof 3 days!!!!

They will not get another dime from me. We have decided that they can keep the car and I will fight this another way. I still stick to I will get my $1900 and every payment made so far back.