Independent profile — not affiliated with Credit Acceptance Corporation
Credit Acceptance Corporation
Credit Acceptance Corporation (NASDAQ: CACC), headquartered in Southfield, Michigan and founded in 1972, is an indirect subprime and deep-subprime auto lender: it does not originate loans directly, but funds and services "Consumer Loans" that a nationwide network of independent car dealers originate and assign to it. On September 17, 2026, New York Attorney General Letitia James announced a $700 million settlement with Credit Acceptance ("CAC") and a coalition of 39 other states (Hawaii participating through its Office of Consumer Protection) and the District of Columbia, resolving a lawsuit the CFPB and NY AG first filed in January 2023 (the CFPB withdrew as a plaintiff in April 2025, before the case was resolved); the settlement includes debt relief on the loans of more than 55,000 consumers, $60 million in restitution, and a $15.5 million penalty, without a trial verdict on the underlying allegations. Credit Acceptance separately settled with the Massachusetts Attorney General in 2021 ($27.2 million to a consumer-relief trust) and the Mississippi Attorney General in 2021 ($325,000 to the state plus a $125,000 charitable donation), and paid $12 million to settle a shareholder securities class action in 2022. The Massachusetts and Mississippi resolutions included no admission of liability or wrongdoing; the shareholder case ended in a negotiated settlement rather than a liability verdict. The CFPB's own complaint database shows 14,411 complaints about the company since 2012 (3,273 in the last 12 months), BBB lists 868 complaints in the last three years alongside a 1.7-out-of-5 customer review score, and Trustpilot shows a 4.3 ("Excellent") score from about 5,000 reviews; each figure is reported separately below rather than combined.
Complaints & Reviews on USAComplaints
USAComplaints currently maintains 242 historical complaints about Credit Acceptance Corporation, published between 2004 and 2013. No approved complaints have been published on this site during the last three years. For a current reputation snapshot, see the independent sources below.
- Consumer Report
- Consumer Report
- Consumer Report
- Www.creditacceptance.com Wrongly repo cars and fee gouging
- Scandelous!
- Angie, Bryan, Nicole, Thomas, Tameka I lost my job, and now I have lost my car. I tried to make payments the best I could
- Rip off
- Basic Auto Sales Guaranteed credit approval, any one can drive a ca
- Illegal Repo/Theft of Personal Property
- CAC Will not accept responsibility for stolen items from vehicle during illegal repossession
- Consumer Report
- Warranty problems
- I paid off my loan in June and they sent me the title.in Aug. I received a bill for $1181.40
- Boggus ford-lincoln in mcallen texas rip-off & tamperd with
- Bought a 2004 jeep grand cherrokee for 7995 ended up being 12995 left the lot had home for 3 days and engine started knocking brought to a jeep dealer tech said motor was no good have pics of valve p
- Continue to harass me after I have paid off my auto loan!
- Laugh at Vet with PTSD
- Lying, cheating, and bullying me Southfield
- Unlv my mother was blind and they allowed someone to buy a car and sign her name to purchase a car. They took my mother to court for 2 yrs, before they dismissed it because Auto Max in Tuscaloosa let someon
- How can they garnish my wages after 12yrs
Independent Sources
Shown for context — not merged with USAComplaints' own numbers.
Contacts & Payment
- Official website: https://www.creditacceptance.com/
- Customer service / make a payment: 800-634-1506 72 complaints mention this number
- Customer feedback & complaints line: 877-523-4044
- Make a payment: https://www.creditacceptance.com/make-a-payment
- Trustpilot-listed contact email: [email protected]
Locations
| Type | Address |
|---|---|
| Headquarters | 25505 West Twelve Mile Road Southfield MI 48034 |
Have a Credit Acceptance auto loan? What to check and how to reach the company
Credit Acceptance Corporation ("CAC") is not the dealership where you bought your car - it is the finance company the dealer assigned your Retail Installment Sales Contract to. According to CAC's own FAQ page, if you financed through CAC, "Credit Acceptance holds the title until the contract is paid off and/or Credit Acceptance releases its lien" in most states; a handful of states (KY, MD, MN, MO, MT, NY) instead mail the title directly or make it available at the motor vehicle department about 30 days after purchase, and Kansas holds titles electronically. CAC's FAQ also has specific instructions for getting a payoff quote, for obtaining a lien-release or title document after paying off your contract, and - if your vehicle was repossessed - for getting a quote in the Customer Portal for the amount needed to release the vehicle.
On September 17, 2026, New York's Attorney General announced a $700 million multistate settlement with CAC (details in the next section). If you are a current or former CAC customer, CAC's FAQ page states you can log in to the Customer Portal to see your account status, or call customer service; the settlement includes debt relief for more than 55,000 consumers and restitution for consumers who lost vehicles to repossession.
- About the 2026 multistate settlement: most of the roughly $700 million is targeted debt forgiveness for a defined group of accounts that were open on December 1, 2025, not a payment to every customer, and it is due by November 2, 2026 without any application; Credit Acceptance says fewer than 3% of open accounts are eligible, that eligible customers will be contacted, and that everyone should keep making scheduled payments unless told otherwise. The separate $60 million fund is distributed by the state attorneys general's administrator, not by Credit Acceptance.
- To get a payoff quote or ask about your title/lien release, use the Customer Portal or call 1-800-634-1506 (weekdays 8am-11pm ET, weekends 8am-5pm ET).
- To dispute a credit-reporting entry, CAC's FAQ directs customers to the "Your Credit & Privacy" section of the Customer Portal; the CFPB also advises disputing an error in writing with the credit reporting company (Equifax, Experian and/or TransUnion), explaining what is wrong and including copies of supporting documents.
- To file a complaint directly with CAC, log in to the Customer Portal to submit it (CAC says this lets it respond "quickly and directly") or call 1-877-523-4044.
- If your car was repossessed, CAC's FAQ describes a Customer Portal quote for the release amount, and a way to look up the repossession contractor's contact information; if you dispute the debt or the repossession itself, keep records of the contract, payment history, and any repossession paperwork. The CFPB explains that, depending on state law, you may have a right to notice before the car is sold, a right to buy it back (redeem it), liability for a deficiency if the sale does not cover the debt, and a right to any surplus.
- For payment hardship, ask customer service about available payment-arrangement options, and get any arrangement in writing.
- You can also file a complaint with the Consumer Financial Protection Bureau at consumerfinance.gov/complaint or with your state Attorney General, separately from any dealings with CAC directly.
The 2026 $700 million multistate settlement, and the Massachusetts and Mississippi settlements
CFPB and New York Attorney General lawsuit, and its 2026 resolution. On January 4, 2023, the CFPB and New York Attorney General Letitia James jointly sued Credit Acceptance in the U.S. District Court for the Southern District of New York (1:23-cv-00038), alleging the company "engaged in deceptive and abusive acts or practices" in violation of the Consumer Financial Protection Act and New York law, including hiding the true cost of loans and pushing consumers into loans that a large share would default on. CAC moved to dismiss; the case was stayed pending a U.S. Supreme Court ruling on CFPB's funding structure and then re-briefed. On April 24, 2025, the CFPB filed an unopposed motion to withdraw as a plaintiff, which the court granted on April 29, 2025; CFPB's own enforcement-action page now lists its case status as "Expired/Terminated/Dismissed." New York's Attorney General continued the litigation together with a separate, Maryland-originated multistate investigation that by 2020 covered 41 states and the District of Columbia. On September 17, 2026, Attorney General James announced that CAC had agreed to a $700 million settlement with a coalition of 39 other states (Hawaii participating through its Office of Consumer Protection) and the District of Columbia. Per the AG's press release, the settlement requires CAC to eliminate debt owed by more than 55,000 consumers nationwide (about 2,500 in New York), described as more than $630 million in debt relief; to pay $60 million in restitution to consumers who lost their vehicles to repossession; and to pay a $15.5 million penalty to the states. Going forward, if certain at-risk borrowers default within 12 or 18 months and their vehicle is repossessed and sold, CAC must forgive 95% of the remaining debt and may collect only the remaining 5%, and is barred from suing to collect that debt or reselling it to a collector; CAC must also contact consumers outside the dealer showroom about any add-on products they bought and offer a process to cancel them. The court entered New York's Consent Order and Judgment on September 17, 2026 and the New York case was closed that day; CAC's September 2026 Form 8-K says it signed separate consent judgments with each participating state and D.C., each of which is subject to final court approval in the relevant jurisdiction. In the judgment, CAC “denies any and all violations of law alleged,” and its 8-K states it made no admission of wrongdoing or liability; there was no trial or court finding of liability.
Who gets the debt cancellation, and when. The New York consent judgment (signed by U.S. District Judge Jesse M. Furman on September 17, 2026) defines two groups of accounts that were open as of December 1, 2025 and originated between November 1, 2015 and November 30, 2025, where the borrower had, at origination, a Credit Acceptance Score (the company's proprietary score) below 56 and a payment-to-income (PTNI) ratio of 13% or more: (1) “Early Defaulted Accounts,” where the vehicle was sold after a voluntary surrender or involuntary repossession within 18 months of origination (estimated $388 million in balances), and (2) “Other Identified Early Defaulted Accounts,” where the vehicle was not repossessed and sold at auction by Credit Acceptance (estimated $246 million), for which CAC must also release its lien and send the title. For both groups CAC must waive all outstanding balances on or before the order's Effective Date, November 2, 2026, stop collection and not sell the accounts, stop reporting them and ask the three credit bureaus to delete the tradelines, and notify each borrower by letter, email, or text. No application is required for this debt relief. Because the Credit Acceptance Score is proprietary, borrowers generally cannot tell from their own credit report whether they qualify; Credit Acceptance says fewer than 3% of open accounts are affected and that eligible customers will be contacted.
The $60 million fund is handled differently. Under the judgment, CAC pays $60 million into a trust used by a settlement administrator chosen by a committee of state attorneys general, and that committee has “sole discretion” over which account holders receive money and how much; the order contemplates payment by check. As of September 28, 2026 no public claim-form process for this fund was found.
Future loans. For contracts originated after December 1, 2025, the judgment requires CAC to waive 95% of the deficiency balance, never sue, and not sell or transfer the contract when the vehicle is involuntarily repossessed and sold within 12 or 18 months of origination and the borrower fell into specific credit-score and payment-to-income bands (for example, a credit score below 475 with a PTNI of 13% or more and a repossession and sale within 18 months). After 90 days CAC may make no more than four collection communications about the remaining 5%, and must consider in good faith a request to delete the tradeline. The judgment also requires CAC to maintain procedures for borrowers with credit scores below 600 or no score that are designed to offer debt relief such as payment deferrals or favorable settlement offers.
Massachusetts Attorney General. On August 28, 2020, Massachusetts Attorney General Maura Healey sued Credit Acceptance in Suffolk Superior Court (Commonwealth of Massachusetts v. Credit Acceptance Corp., Civ. Action No. 20-1954-BLS2), alleging the company made unfair and deceptive auto loans to Massachusetts consumers, gave investors false information about its asset-backed securitizations, and engaged in unfair debt-collection practices. The parties resolved the case with a Settlement Agreement and Assurance of Discontinuance, which CAC announced as finalized on September 1, 2021: CAC agreed to pay $27.2 million into an independent trust for consumer relief and to cover the AG's investigation costs, with an independent trustee overseeing distribution to affected borrowers, and to request that credit bureaus delete certain loan tradelines when directed by the Attorney General's office. Under the agreement, "Credit Acceptance made no admission of liability," per the company's press release.
Mississippi Attorney General. On April 23, 2019, Mississippi's Attorney General sued Credit Acceptance in Chancery Court for Hinds County, alleging unfair and deceptive practices in the state's auto-finance operations and in disclosures to consumers who purchased optional vehicle service contracts, in violation of the Mississippi Consumer Protection Act (the case was later removed to and litigated in federal court, S.D. Miss. 3:19-cv-00353). CAC settled on December 15, 2021: it paid $325,000 to the State of Mississippi (inclusive of the state's attorney's fees and expenses) and made a $125,000 charitable donation, and provided assurances about continued compliance with laws governing indirect auto finance and vehicle-service-contract disclosures. The Attorney General agreed to dismiss the case, and "Credit Acceptance made no admission of liability or wrongdoing," per the company's SEC filing.
Company background
Credit Acceptance Corporation says it "was founded in 1972 to collect retail installment contracts ... originated by automobile dealerships owned by Donald Foss," the company's founder, according to its FY2025 Form 10-K. During the 1980s it began marketing its servicing model to non-affiliated dealers and offering dealers cash advances against future collections. The company operates as an indirect lender: dealers originate the retail installment contracts ("Consumer Loans") and assign them to Credit Acceptance under one of two programs - the Portfolio Program (CAC advances money to the dealer against future collections) or the Purchase Program (CAC makes a one-time payment to buy the contract outright). Per the same filing, 79.5% of the Consumer Loans it was assigned in 2025 involved borrowers with FICO scores below 650 or no FICO score at all. Credit Acceptance's own site states that "over the past 50 years, we've helped more than 4 million people get a vehicle, even with bad or no credit" - a company claim, not independently verified here.
The company is publicly traded on Nasdaq under the symbol CACC and is incorporated in Michigan. Its headquarters, an approximately 136,000-square-foot office building in Southfield, Michigan that it has owned since 1993, uses a "remote first" work strategy according to the FY2025 10-K. As of that filing (signed February 13, 2026), the company's principal executive officer is Vinayak R. Hegde (Chief Executive Officer and Director), its principal financial officer is Jay D. Martin (Chief Financial Officer), and its Chair of the Board is Thomas N. Tryforos. Kenneth S. Booth, who was the company's Chief Financial Officer and a named individual defendant in the 2020-2022 shareholder securities lawsuit described below, is now listed only as a director; Brett A. Roberts, the CEO named as a defendant in that same lawsuit, no longer appears among the company's listed officers or directors in that filing.
Complaint record: CFPB, BBB, and Trustpilot, reported separately
Several sources track complaints and reviews about Credit Acceptance, and this page reports each separately rather than combining them into one figure:
- CFPB Consumer Complaint Database (company "CREDIT ACCEPTANCE CORPORATION," checked September 28, 2026): 14,411 complaints filed April 5, 2012 through September 24, 2026 (3,273 in the last 12 months). By product: vehicle loan or lease, 5,354; credit reporting or other personal consumer reports (combining product-name variants used over time), 5,895; debt collection, 2,542. Top issues: incorrect information on a credit report, 3,547; improper use of a credit report, 1,697; problems managing the loan or lease, 1,696; repossession, 1,075; attempts to collect a debt not owed, 928. The company closed 13,534 of these complaints with an explanation, 683 with monetary relief, and 189 with non-monetary relief, with 5 in progress at the time checked; 14,376 were answered in a timely manner and 35 were not. The CFPB does not verify the facts alleged in complaints, and a company's size and loan volume affect how many complaints it is likely to receive.
- BBB: Credit Acceptance Corporation's Southfield, Michigan BBB profile shows the company is not BBB accredited, with a BBB Rating of A+ - BBB's letter rating is separate from accreditation and from its customer-review score. BBB shows 868 complaints in the last three years (233 closed in the last 12 months), and a customer-review score of 1.7 out of 5 from 162 reviews.
- Trustpilot: a profile at trustpilot.com/review/creditacceptance.com shows a TrustScore of 4.3 ("Excellent") from approximately 5,000 reviews. Trustpilot's own transparency panel states the company "asks customers to review" (whether positive or negative) and has "replied to 4% of negative reviews."
Because each source covers a different population, time window, and methodology, none of these figures is added to or averaged with any other. Readers may notice that Credit Acceptance's Trustpilot score is high while its BBB customer-review score is low and its CFPB and BBB complaint counts are both substantial; this page reports that gap without drawing a conclusion from it.
Shareholder securities class action
Separately from the consumer-protection cases above, Credit Acceptance and two of its then-executives were sued in a federal securities class action after the August 2020 Massachusetts Attorney General lawsuit became public. Palm Tran, Inc. Amalgamated Transit Union Local 1577 Pension Plan v. Credit Acceptance Corporation (E.D. Mich., No. 2:20-cv-12698), filed October 2, 2020, alleged that the Massachusetts AG's announcement caused Credit Acceptance's stock price to fall $85.36 per share (about 18%) over two trading days, and that the company and its then-CEO Brett A. Roberts and then-CFO Kenneth S. Booth had made misleading statements about its lending and securitization practices, in violation of federal securities laws - allegations from the complaint, not proven facts. Two Canadian pension funds, Millwright Regional Council of Ontario Pension Trust Fund and Ontario Provincial Council of Carpenters' Pension Trust Fund, were appointed lead plaintiffs in May 2021 and filed an amended class-action complaint in July 2021. The company moved to dismiss in September 2021; before the motion was decided, the parties reached a settlement, and the court denied the motion to dismiss as moot in August 2022. The court granted final approval of a $12,000,000 settlement fund for the class on December 12, 2022, and entered a Final Order and Judgment on December 16, 2022. Court filings describe the per-share recovery as approximately $1.95 per allegedly damaged share before deduction of attorneys' fees and expenses, and about $1.34 per share after those deductions. As with the consumer-protection settlements, this was a negotiated resolution, not a verdict finding the company or its former executives liable.
Is Credit Acceptance Corporation Legitimate?
Credit Acceptance Corporation is a real, publicly traded company (Nasdaq: CACC), incorporated in Michigan since 1972 and registered with the SEC (CIK 0000885550), headquartered at 25505 West Twelve Mile Road, Southfield, Michigan. It has faced enforcement actions brought by the New York, Massachusetts, and Mississippi Attorneys General (the New York matter resolved as part of a September 2026 multistate settlement with New York, 39 other states (Hawaii through its Office of Consumer Protection) and the District of Columbia, for a combined $700 million in debt relief, restitution, and penalties), plus a federal shareholder securities class action. The Massachusetts and Mississippi settlements included no admission of liability or wrongdoing; the New York and shareholder matters ended in settlements rather than liability verdicts. Consumers considering or holding a Credit Acceptance auto loan can independently verify the company's SEC filings, the settlement terms described above from the New York Attorney General and from CAC's own SEC filings, and the complaint data reported separately from the CFPB, BBB, and Trustpilot. This page assigns Credit Acceptance no rating, score, or "scam" label of its own - the regulatory and complaint record above is reported so readers can weigh it for themselves.
Court & Public Records
| Case | Authority | Dates | Type | Outcome | Source |
|---|---|---|---|---|---|
| Consumer Financial Protection Bureau and People of the State of New York v. Credit Acceptance Corporation Docket 1:23-cv-00038 | U.S. District Court, S.D. New York | Settled | Settled The CFPB and New York Attorney General jointly alleged Credit Acceptance engaged in deceptive and abusive acts or practices in auto lending and securitization, in violation of the Consumer Financial Protection Act and New York law. The CFPB withdrew as a plaintiff on April 29, 2025 (unopposed motion granted); its enforcement-action page lists the case status as "Expired/Terminated/Dismissed." New York continued the case together with a related multistate investigation covering dozens of states. On September 17, 2026, the New York Attorney General announced a $700 million settlement with New York and a coalition of 39 other states (Hawaii through its Office of Consumer protection office: more than $630 million in debt relief for over 55,000 consumers, $60 million in restitution to consumers who lost vehicles to repossession, and a $15.5 million penalty, plus ongoing debt-forgiveness and add-on-product-disclosure requirements. | Source | |
| Commonwealth of Massachusetts v. Credit Acceptance Corp. Docket Civ. Action No. 20-1954-BLS2 | Massachusetts Superior Court (Suffolk County, Business Litigation Session) | Settled | Settled The Massachusetts Attorney General alleged Credit Acceptance made unfair and deceptive auto loans to Massachusetts consumers, misrepresented facts to asset-backed-securitization investors, and used unfair debt-collection practices. The parties resolved the case with a Settlement Agreement and Assurance of Discontinuance under M.G.L. c. 93A, finalized September 1, 2021: Credit Acceptance paid $27.2 million into an independent consumer-relief trust and agreed to request deletion of certain credit-bureau tradelines when directed by the Attorney General's office, without admitting liability. | Source | |
| State of Mississippi ex rel. Jim Hood v. Credit Acceptance Corporation Docket 3:19-cv-00353 | Chancery Court, First Judicial District, Hinds County, Mississippi (removed to U.S. District Court, S.D. Mississippi) | Settled | Settled Mississippi's Attorney General alleged Credit Acceptance engaged in unfair and deceptive practices in its auto-finance operations and in disclosures related to optional vehicle service contracts, in violation of the Mississippi Consumer Protection Act. Credit Acceptance settled on December 15, 2021, paying $325,000 to the State of Mississippi (inclusive of attorney's fees and expenses) and making a $125,000 charitable donation, and providing compliance assurances; the Attorney General agreed to dismiss the litigation, and the company made no admission of liability or wrongdoing. | Source | |
| Palm Tran, Inc. Amalgamated Transit Union Local 1577 Pension Plan v. Credit Acceptance Corporation Docket 2:20-cv-12698 | U.S. District Court, E.D. Michigan | Settled | Settled A federal securities class action alleging Credit Acceptance and its then-CEO Brett A. Roberts and then-CFO Kenneth S. Booth made misleading statements about the company's lending and securitization practices, filed after the August 2020 Massachusetts Attorney General suit was announced and the company's stock fell about 18% - allegations from the complaint, not proven facts. Lead plaintiffs (two Canadian pension trust funds) were appointed in May 2021; an amended complaint followed in July 2021 and a motion to dismiss in September 2021, which was denied as moot once a settlement was reached. The court granted final approval of a $12,000,000 settlement fund on December 12, 2022, and entered a Final Order and Judgment on December 16, 2022. | Source |
Related Complaints
Names this company in a role other than the primary subject — not necessarily current or complete.
Frequently Asked Questions
Is Credit Acceptance (CAC) a legitimate company?
Credit Acceptance Corporation is a real, publicly traded auto-finance company (Nasdaq: CACC), incorporated in Michigan since 1972 and registered with the SEC, headquartered in Southfield, Michigan. It has been the subject of actions by the Consumer Financial Protection Bureau and state attorneys general, and in September 2026 settled a multistate lawsuit for $700 million in debt relief, restitution, and penalties, following earlier settlements with Massachusetts (2021) and Mississippi (2021). The Massachusetts and Mississippi settlements included no admission of liability or wrongdoing; the 2026 matter ended in a settlement rather than a trial verdict. This page assigns the company no rating or "scam" label of its own; the regulatory and complaint record described here is meant to let readers weigh it themselves.
Will I get debt forgiveness or money from the 2026 Credit Acceptance settlement?
Probably not automatically. Credit Acceptance's settlement page says that "most customers are not eligible for settlement-related relief" and that "fewer than 3% of open accounts" are eligible for debt forgiveness; eligible customers will be contacted directly by mail or email, and "the overwhelming majority of customers are not affected and will not need to take any action." It also says to keep paying: "Please continue making your scheduled payments unless Credit Acceptance contacts you directly and gives you different instructions." The separate $60 million consumer relief fund "is administered by the participating state attorneys general," and the company says it "does not control or administer the fund and does not decide who receives relief from it," so watch for information from your state attorney general. Under the court's judgment, qualifying balance waivers are due on or before November 2, 2026, and qualifying borrowers must be notified by letter, email, or text. Under the court's judgment, qualifying balance waivers are due on or before November 2, 2026, and qualifying borrowers must be notified by letter, email, or text. Under the court's judgment, qualifying balance waivers are due on or before November 2, 2026, and qualifying borrowers must be notified by letter, email, or text. Be wary of anyone asking for money or account details to "claim" relief.
What was the $700 million Credit Acceptance settlement about, and do I qualify?
On September 17, 2026, New York Attorney General Letitia James announced a $700 million settlement with Credit Acceptance and a coalition of 39 other states (Hawaii participating through its Office of Consumer Protection) and the District of Columbia, resolving a lawsuit first filed jointly by the CFPB and the New York AG in January 2023 (the CFPB withdrew as a plaintiff in April 2025). Under the settlement, CAC eliminates debt for more than 55,000 consumers nationwide (more than $630 million in debt relief), pays $60 million in restitution to consumers who lost their cars to repossession, and pays $15.5 million to the states. Credit Acceptance denied the alleged violations and made no admission of wrongdoing or liability.
How do I get a payoff quote from Credit Acceptance?
Credit Acceptance's own FAQ describes obtaining a payoff quote and checking title or lien-release documentation through its customer channels; customers can call 1-800-634-1506 for help. The FAQ says Credit Acceptance holds the title until the contract is paid off and/or releases its lien in most states, with different title procedures in Kentucky, Maryland, Minnesota, Missouri, Montana, New York and Kansas.
What happens if my car is repossessed by Credit Acceptance?
Credit Acceptance's FAQ describes a Customer Portal feature for obtaining a quote for the amount needed to release a repossessed vehicle, and a way to look up contact information for the repossession contractor that picked up the vehicle. Separately, under the September 2026 multistate settlement, Credit Acceptance agreed that if certain at-risk borrowers default on their loan within 12 or 18 months and their vehicle is repossessed and sold, the company must forgive 95% of the remaining debt and may only collect the remaining 5%, and is barred from suing to collect that debt or reselling it to a debt buyer. Outside the settlement, the CFPB explains that state law governs notice before a repossessed car is sold, any right to redeem it, deficiency balances, and surplus proceeds. If you dispute a repossession or a resulting balance, keep your contract, payment history, and any repossession paperwork.
How do I dispute something on my credit report or file a complaint with Credit Acceptance?
Credit Acceptance's FAQ directs customers to the "Your Credit & Privacy" section of the Customer Portal to file a credit-reporting dispute. To submit a complaint, customers can use the Customer Portal or call 1-877-523-4044. Complaints can also be filed independently with the Consumer Financial Protection Bureau at consumerfinance.gov/complaint or with a state Attorney General's office.
What did the CFPB and New York Attorney General's 2023 lawsuit allege, and what happened to it?
The joint January 2023 complaint alleged that Credit Acceptance engaged in deceptive and abusive acts or practices in violation of the Consumer Financial Protection Act and New York law - allegations from the complaint, not adjudicated findings. The CFPB withdrew as a plaintiff in April 2025 (its own enforcement-action page lists the case status as "Expired/Terminated/Dismissed" as to CFPB), while the New York Attorney General continued the case together with a related multistate investigation. That litigation was resolved in the September 2026 settlement described above, without a trial verdict on the original allegations.
What were the Massachusetts and Mississippi Attorney General settlements?
Massachusetts's Attorney General sued Credit Acceptance in August 2020 alleging unfair and deceptive auto lending, misrepresentations to securitization investors, and unfair debt collection; the company settled in September 2021 by agreeing to pay $27.2 million into an independent consumer-relief trust and to help arrange deletion of certain credit-bureau tradelines, without admitting liability. Mississippi's Attorney General sued in April 2019 over alleged unfair and deceptive practices, including vehicle-service-contract disclosures; the company settled in December 2021, paying $325,000 to the state and a $125,000 charitable donation, again without admitting liability or wrongdoing.
How do I contact Credit Acceptance?
Credit Acceptance's customer service and payment line is 1-800-634-1506 (weekdays 8am-11pm ET, weekends 8am-5pm ET); its customer feedback/complaints line is 1-877-523-4044. Most account tasks - payments, payoff quotes, title status, complaints, and credit-reporting disputes - are handled through the online Customer Portal or the Credit Acceptance Mobile App at creditacceptance.com. The company's headquarters is at 25505 West Twelve Mile Road, Southfield, Michigan 48034.