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Credit Acceptance agreed to report the CURRENT status of my account when I notified them that I lost my job due to COVID and would need to make payment adjustments. The representative from Credit Acceptance then told me that they were offering a service in which would help people affected from the global pandemic : they would not report negative data to the credit bureaus such as late payments, etc.
Instead, they would mark your credit report as "natural disaster", thus protecting your account from any damage. Since then, Credit Acceptance has NOT accurately reported the status of my account when I notified them that I needed to adjust payments. They are incorrectly reporting that I was 60 days late. I notified them in March 2020 and before March 2020, I had not missed a payment.
I still paid after notifying them. Despite losing my job, I was able to pay off $11K worth of car debt on 7/06/20, thus paying the loan in full and closing my account. By 11/2020, Credit Acceptance begin reporting to the credit bureaus that I was 60 days late on payments and that my account was still being affected by natural disaster.
It is now January 2021, I have called and sent several disputes. Through my efforts, several credit bureaus removed the remarks added by Credit Acceptance, those remarks being : "60 days late" and "natural disaster".
Yet Credit Acceptance keeps adding the remarks, even though I've had them removed.
Credit Acceptance's actions has managed to drop my credit score 60+ points despite me paying off the loan in full, closing the account, being affected by COVID - yet protected by a category labeled as "natural disaster" and me reporting to Credit Acceptance at the time when my account was in good standing.
Credit Acceptance refuses to remove the remark they added, I have tried everything.
Every time I have the remark removed, Credit Acceptance adds it back, despite my account being closed and paid in full nearly a year ago.
User's recommendation: NEVER get a car from them!!!!!
Preferred solution: To have Credit Acceptance please remove the remark : "60 Days Late". .
Credit Acceptance Cons: Lies on credit report, Misleading and manipulative information, Taking advantage of a global pandemic, Get richer while they abuse the poor.