Nationwide Acceptance LLC (f/k/a Nationwide Acceptance Corporation) (Nationwide) is a third-party subprime auto loan company based in Illinois. Nationwide has received consumer complaints alleging violations such as improper billing, communications, and credit reporting. If you have been contacted by Nationwide, make sure you understand your rights before taking action.
According to its website, Nationwide Acceptance “is comprised of a group of companies that has been providing quality financial services to consumers and businesses since 1954” and it is a wholly owned subsidiary of Prospect Capital Corporation, a publicly traded company. The Better Business Bureau (BBB) website states that Nationwide registered as a Delaware LLC in 2013. The BBB opened its file on the company in 1966, and it lists Nationwide as a consumer finance company.
Nationwide’s website informs site visitors that “Nationwide is one of the most reputable and reliable independent subprime auto lenders in the country.” Its businesses include personal loans, automobile retail sales financing, collection services and bulk purchases of contract receivables” and serves customers in 26 states. Nationwide provide customers and dealers with “unparalleled personal service” and has “developed special loans for people who have yet to establish a good credit record or need the chance to re-establish one.”
Nationwide Acceptance’s website provides information for car dealers and car buyers. Its dealer pages inform site visitors that Nationwide has been making subprime auto loans since 1954. Dealers that work with Nationwide have access to “the most flexible auto financing guidelines available anywhere.” They enjoy “accessible, responsive and committed” service as well as “quick approvals and funding.” Dealer forms are available online and more information about Nationwide’s dealer services is available by contacting a regional dealer representative.
The car buyer pages assure site visitors that Nationwide “recognizes that situations sometimes occur that make it difficult to make payments on time. Its dedicated team of collection professionals is here to assist customers.” According to Nationwide, many times it can “work out arrangements” to get customers “back on track” to pay their loans on time. Nationwide also provides a “customer center” with a “payment and an online information center”that allows customers to make payments, check their account balances, obtain payoff quotes, manage their accounts or access educational resources. The FAQ page answers questions about account access, payments, insurance, payoffs, and credit reporting.
Nationwide Acceptance’s website does not provide a lot of detailed information about its business practices or compliance policies. It does include a link to Nationwide’s “Fair Lending Manual” and standard, legally mandated information about information privacy and security
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The BBB has closed 2 complaints against Nationwide Acceptance in the past three years, with 1 closed in the past 12 months. Most of those complaints allege problems with billing, collections and customer service, although the details of the complaints are not available online. Some consumers also allege improper credit reporting and problems with getting the company to remove negative credit reports that resulted from identity theft or fraud. Since December 2013, the Consumer Financial Protection Bureau (CFPB) has received 42 complaints about Nationwide and continues to list them under Nationwide Acceptance Corporation.
Absolutely. Here are some Sample Cases against Nationwide Acceptance LLC.
According to information available from the BBB and the CFPB, complaints against Nationwide Raise problems with billing, collections, customer service, and credit reporting. The 7 negative reviews on Nationwide’s BBB profile, several of which describe Nationwide Acceptance as “the worst finance company ever” with the “worst customer service”, support these allegations.
In October 2016, a complainant indicated that Nationwide Acceptance took advantage of his misfortunate after he lost his job, “nearly lost his life”, had several car accidents and became homeless. The complainant alleged that he purchased a car financed by Nationwide after he filed for Bankruptcy. He then lost his job and nearly lost his life, became homeless, was forced to live in his car, and got behind on his car payments. He contacted Nationwide to assure the company that he would make payments. Unfortunately, the complainant was then in a car accident. He contacted his insurance company to have the car repaired, but ultimately realized he could no longer afford the car payments since he had been homeless for almost a year and “needed to keep a roof over his head.” According to the complainant, he advised Nationwide of this and told them to pick up the car after it was repaired. Nevertheless, he “constantly got calls” from Nationwide and was told once Nationwide sold the car he would be responsible for the balance. When the complainant checked his credit, the amount reflected was far more than what could have been due or what the car was worth.
In July 2016, a complainant indicated that he had problems obtaining from Nationwide Acceptance the correct amount he owed to bring his car loan current and that rather than assist him, Nationwide repeatedly called him, denied the substance of the calls, and baited him to complain. The complainant alleged that Nationwide’s website incorrectly calculated his payment due amount. Although Nationwide acknowledged that the website was wrong and that it did not calculate interest correctly when a customer overpays the monthly loan amount, it failed to help the complainant resolve the issue. Instead, Nationwide’s collection department began calling him, mostly from “blocked numbers…” According to the complainant, Nationwide had “hung up on” him and told him the phone calls would not be stopped. In an effort to bring his account current, the complainant called Nationwide two days before his next payment was due, but the Nationwide representative chose only to tell him the amount he “owed for one month instead of two (due to Nationwide’s errors on its website).”Later, when complainant called to correct the problem and bring his account current, he was told that Nationwide had kept “notes” about his earlier calls and that his version “was mistaken.” Nationwide Acceptance later denied the blocked calls altogether and told him that Nationwide’s “legal team is big and welcomes complaints.”
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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.
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