Question:
Dear Steve,
I own a vehicle with a loan held by American Credit Acceptance, LLC. I live in South Carolina, and my vehicle currently has repossession orders.
Please let me know if there is any way that I can link my vehicle to these lawsuits, have it paid off and the delinquencies removed from my credit report?
Please let me know if there is any way that I can link my vehicle to these lawsuits, have it paid off and the delinquencies removed from my credit report?
Jenna
Answer:
Dear Jenna,
I think you might be thinking of this post from 2019 about American Credit Acceptance.
There have been many federal suits that involved American Credit Acceptance over the years. That doesn’t even count the suits filed in state court.
If you feel the repossession is not warranted and you are not delinquent on your payments then you should see assistance from a vehicle consumer attorney in South Carolina or file a complaint with the South Carolina Attorney General Office.
It would be unrealistic to expect the vehicle to be paid off and your payment history removed unless there is an underlying legal issue or error created by American Credit Acceptance that has created the situation.
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I feel as if my loan is not getting paid down through American credit acceptance. I heard there is so many lawsuits. Is there anyone I can do to get out of this car?
You can hand the car back and attempt to settle the default balance, file bankruptcy and hand the car back, pay more than the minimum to pay the balance off faster, refinance at a lower interest rate, or sell the car and pay any difference due between the sales price and loan balance.
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