Credit Acceptance Corporation Consumer Loan Complaint

Credit Acceptance Corporation Consumer loan department,

Vehicle loan Managing the loan or lease Pennsylvania

On -/-/-, I purchased a used car ( - Ford Explorer ) and had it financed through Credit Acceptance Corp. ( CAC ) for 45 months. The car was for my daughter and she was to make payments. The only correspondence we EVER received from CAC was the payment coupon book. Due to the fluctuations in my daugter 's work hours and pay, and unbeknownst to me, she fell behind in her payments. My daughter purchased another car and I took over the payments. Because I found out the payments were not up-to-date, I called CAC in - - and asked what amount I would need to pay in order to become current AND to be on track to have the truck paid off according to the coupon payment book date of - -. I was told by the customer service representative at CAC that if I paid $2100.00 that my payments/loan would be current and the final payment of $270.00 payable in - - would be the final payment. So that I could become current on the truck payments, I authorized a payment to CAC in the amount of $2100.00 in - -. Yesterday, - -, -, I made


what the procedure would be to get the title after my final payment in -. I did n't get a chance to ask about the title procedure as, the CSR told me that I a balance of $900.00 plus, not my payment due of $270.00. I asked her to explain how this could be. She, and later her supervisor both said that because I was late in making payments, the interest kept being added. I 'm not sure how interest and/or principle works relating to loan, but I thought the interest was calculated into the payments. Also, a late fee was assessed if payments were made late. I think my main complaints are ; when I called in - -, I specifically asked what amount would bring my account current and I paid that amount ; the fact that no correspondence was sent to me when payments were late and/or not paid and, no correspondence was sent as to how and/or when the interest rates were applied and/or changed. Nothing was explained to me regarding the interest either while I was on the phone with the CSR, nor by any mailed correspondence. I believe this is highly unfair and unethical, CAC adding interest and/or hidden fees and not communicating this to me, the loan holder. I believe that I am current on my payments and that any mistakes on what was due at the time I called in - - should be the fault of the CSR as he was the person who instructed me that by remitting the $2100.00, my account would be current and up-to-date. Please look into this matter.