Credit Acceptance
Loan paid off early but credit report shows collection account

I had a car loan with Credit Acceptance Corp. With my payments being automatically deducted from my checking account every month. Never late.

About one year later my wife had a car accident and the vehicle was totaled and my insurance paid most of the loan off. I ended up making six more payments, all on time with auto deduct payments still, and finally paid off the loan in full almost a year and a half ahead of time.

Yet on my credit report they say my account was a collection account. Instead of helping my credit it made it worse and as a result I was turned down for a new car loan. I called them to find out why they listed my account as a collection and they refused to deal with me and told me I would have to dispute it with the credit reporting agencies.

How can a loan that was paid off early and paid by auto deductions from my bank account be entered as a collection account? How can they be allowed to tarnish my credit without cause and get away with it?
I did enter my disputes with the credit agencies but will that really help? How well do they investigate dispute claims?

Company: Credit Acceptance
Country: USA
State: Michigan
City: Detroit
Address: P.O. Box 55000, Dept. 188801
Phone: 8006341506

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