Ace Motor Acceptance Corporation (AMAC) is a third-party, auto lending company based in North Carolina. AMAC has received consumer complaints alleging violations such as improper communication tactics and business practices. If you have been contacted by AMAC, make sure you understand your rights before taking action.
According to the Better Business Bureau (BBB), Ace Motor Acceptance Corporation was founded and incorporated in 1998 in North Carolina. The BBB established its profile page in 2011. The BBB lists AMAC as a consumer finance company.
According to its website, Ace Motor Acceptance Corporation “provides a wide array of benefits to Buy Here Pay Here [BHPH] dealers including capital to fund receivables and floorplan lines to fund inventory.” AMAC states that by 2016, it was “helping BHPH Dealers in over 10 states grow, while fulfilling the transportation needs of thousands of individuals and families in their markets.”
AMAC’s website provides information for car dealers and car buyers. Its dealer pages inform site visitors that AMAC “specializes in providing capital to BHPH dealers” and that its BHPHin a Box™ program “was designed to create positive cash flow and allow [the dealer] to retain control of the sales process.” It describes one of the benefits of the program as allowing the dealer to “maintain the relationship” with the customers. The Dealer FAQ page indicates that AMAC offers account collection services for dealers that do not have “a dedicated collections staff’ and more information about the BHPH in a Box™ is available by contacting AMAC.
Information for car buyers on AMAC’s website is limited to its Consumer FAQ page. The FAQ page answers questions about payments, payoffs, and its GPS starter interrupter unit, a device that emits “warning beeps to remind the customer that a payment is due within 1-2 days” and “has to stay on the car until the loan is paid off.”
The Ace Motor Acceptance Corporation website does not provide a lot of detailed information about its business practices or compliance policies. It does include standard, legally mandated information about information privacy and security.
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The BBB has closed 9 complaints against Ace Motor Acceptance Corporation in the past three years, with 2 closed in the past 12 months. Most of those complaints allege problems with billing and collections and communications. The Consumer Financial Protection Bureau (CFPB) has also received 4 complaints about Ace Motor Acceptance Corporation. Justia and Pacer list at least 8 federal civil lawsuits filed against AMAC, several of which are ongoing.
Absolutely. Here are some Sample Cases against Ace Motor Acceptance Corporation.
According to the BBB, complaints raise “billing and collections issues”, “advertising and sales issues” and “problems with product/service.” Specifically, consumers complain that they are unable to resolve loan payment problems even after following the direction of company employees. Additionally, consumers complain about harassing and aggressive collection tactics.
In August 2017, a complainant stated that dealing with Ace Motor Acceptance Corporation “has by far been the worst experience with a loan company ever.” She alleged that AMAC failed to provide her with a “statement of payment history” to reflect payments she made, but “received nothing from AMAC until after they repossessed [her] vehicle and [she] had already gotten the vehicle back.”Although she “retrieved the vehicle”, Ace Motor Acceptance Corporation refused to refund repossession and storage fees incurred, according to the complainant “due to lack of written communication until after the vehicle had been repossessed.” She also indicated that the customer service representative she dealt with was “extremely nasty in her tone of voice when talking to customers.”
In September 2016, a complainant alleged that Ace Motor Acceptance Corporation “used deceptive sales tact[ics] to get [his] business.” He indicated that although he put down the requested deposit and the dealer told her Ace Motor Acceptance Corporation would be the finance company and would contact her in a few days, he “never received that phone call.” He also stated that when he could not make a payment on time, he spoke to the dealer who told him “AMAC would not let “him go over 60 days late”, but that Ace Motor Acceptance Corporation then repossessed his car less than thirty days after the payment due date. When he called AMAC, he was told AMAC would call the dealer and return his call. Ace Motor Acceptance Corporation did not return the call, but in a later call told him it was his “fault for being late” and refused to address the situation other than to refer to the contract, of which the customer had no copy.
Ace Motor Acceptance Corporation
111 Cupped Oak Drive, Suite F
Matthews, NC 28104-8823
Telephone: (704) 882-7100
Understanding Your Debt Collection Rights
Consumers are protected from abusive debt collectors from the Fair Debt Collection Practices Act (FDCPA). By way of instance, the debt collector must identify himself or herself, who they’re working for, and what debt they’re collecting. The FDCPA claims that debt collectors can’t use any deceptive or misleading representation, like implying the debt is secured by the USA or any particular state. Additionally, they can’t use a badge or uniform to pretend they’re a government employee collecting a debt. Misrepresentation is a violation of the FDCPA and could be reported as such.
In case you’ve been a victim of a debt collector’s wrongdoing, then you can search for justice under the FDCPA. You have the right to pursue a claim against the debt collector; if you prevail, you can collect up to $1,000, plus attorney fees and court costs.
Your debt harassment checklist:
- You are receiving multiple calls per week from third party collection agencies
- You are receiving early morning or late night calls from debt collectors
- You are recieving calls at work from a debt collection agency
- Debt collectors are calling your friends, neighbors, or coworkers
- Collectors are threatening you with violence, a lawsuit, or arrest
- A debt collector attempts to collect more than you owe
- You are being threatened with negative credit reporting
- A debt collector attempts to intimidate you
- Criminal accusations are being made towards you
- Use of obscene language during an attempt to collect
- Automated robocalls are being made to your phone in an attempt to collect
If you’ve been harassed by debt collectors and even one of these has happened to you, we can help. We will fight for your rights.
The Lemberg Law legal team is committed to holding debt collectors accountable, so complete our form for a FREE case evaluation, or call 844-685-9200.
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