COVID-19 UPDATE: WE ARE HERE FOR YOU.
Updated on: 03/23/2021
Credit Acceptance is working hard to ensure you continue to have access to the account services you need.
The safety and well-being of our customers and team members are a priority for us. In this regard, we have successfully enabled our account representatives to work from home. Our team members remain available to provide you any account support you need.
We also want to encourage our customers to exercise social distancing and not venture out to make payments whenever possible. Keep in mind that payments can be made online or over the telephone, 24 hours a day.
How to make a payment
- If you have a Customer Portal account you can use it to make payments and to access your account 24/7. Click here to log into your Portal Account.
- If you do not have a Customer Portal account, you can set one up so you can make payments. Click here to create a new Portal Account.
- You can also make a one-time payment online without a portal account. Click here to make a one-time payment. (A fee of $3.95 applies to use this payment option.)
- If you would like to make a payment over the telephone, call 1-800-634-1506. You can make a payment 24 hours a day using our automated phone system (for a fee of $3.95), or with the assistance of an agent (for a fee of $9.95) during the following business hours:
- 8:00 a.m. – 11:00 p.m. ET, Monday through Friday
- 8:00 a.m. – 5:00 p.m. ET, Saturday and Sunday
Update on collection activities, credit reporting and late fees for customers impacted by COVID-19
If you told us that you have been impacted by COVID-19, you may have received an email or letter from us. In the letter or email, we explained that we intended to resume normal credit reporting and resume assessing late fees on October 1, and we intended to resume some collection activities (including repossessions) after October 1. You may have also received a separate email or letter from us explaining that we intended to delay these actions on or after November 1.
We have decided to further delay resuming normal credit reporting and late fees, and will continue to delay resuming some collection activities (including repossessions), as described in more detail below.
We will communicate further updates to these policies through this page, or in additional emails and letters to customers as appropriate. Please continue to check this page periodically for up-to-date information.
More detailed information about credit reporting for customers impacted by COVID-19 is also available below.
Information for customers impacted by COVID-19
If you notified us that you were impacted by COVID-19, we took several steps to help you navigate the impact of the pandemic. For a minimum of 90 days, we stopped late fees, we froze the status on your credit reporting, and we suspended certain collection activities. We call this the COVID Protected Status. Although you are still responsible for all monthly payments while your account is in the COVID Protected Status, our team members can work with you to set payment arrangements if you are having difficulty making your monthly payments.
If your account has been in the COVID Protected Status for at least 90 days, in order to stay in the COVID Protected Status you will have to make your full standard monthly payment (the monthly payment set forth in your original retail installment contract) each month. If you already have payment arrangements that are sufficient to make a full standard monthly payment for the month, you can continue with those arrangements to meet the full standard monthly payment requirement. If you already have payment arrangements that are not sufficient to make a full standard monthly payment for the month, you will need to either alter your payment arrangements or pay an amount in addition to your payment arrangement so that all payments made for the month equal a full standard monthly payment.
We will review your account status at the end of each month to ensure your account stays in the COVID Protected Status for at least 90 days. Once your account has been in the COVID Protected Status for at least 90 days, we will send you a letter or an email telling you when your account will have been in the COVID Protected Status for at least 90 days, and when you will need to begin making your standard monthly payment.
For example, if your account has been in the COVID Protected Status for at least 90 days as of January 31, 2021, we will send you a letter or email before the end of January, 2021 telling you that as of January 31, 2021, your account will have been in the COVID Protected Status for at least 90 days, and to remain in the COVID Protected Status, you must make your standard monthly payment during the month of February, 2021, and then each month thereafter. However, you will not be required to bring any past due balance current while in the COVID Protected Status. Although you are not required to bring a past due balance current while in the COVID Protected Status, any past due balance must be brought current once the account leaves the COVID Protected Status. Additionally, any account that is interest bearing may continue to accrue interest on the outstanding unpaid principal balance, even when in the COVID Protected Status.
If you do not make your standard monthly payment as directed by us in a letter or email, your account will be removed from the COVID Protected Status.
Upon removal of an account from the COVID Protected Status, we will resume collection activities that may include repossession, and we will remove the credit reporting freeze. See the FAQs below for what happens when the credit reporting freeze is removed. Also, we may resume assessing late fees. Currently, we are not charging late fees on any accounts, and will not do so until further notice. If we have resumed assessing late fees when the account is removed from the COVID Protected Status, we will assess late fees consistent with the terms of your retail installment contract.
If you have any questions, including a question about the date you were first placed in the COVID Protected status, please call one of our customer service representatives at 1-800-634-1506.
If you call us, please be patient. Our account representatives are here to help. However, call volume is high and it is taking us longer than normal to get to all calls. Thank you for your understanding.
Information for customers not impacted by COVID-19
For customers who have not told us that they were impacted by COVID-19, we previously advised that we would resume assessing late fees on monthly installment payments as early as December 1, 2020. However, we have decided to delay the resumption of late fees until further notice. Please continue to check this page periodically for up-to-date information on when we will resume assessing late fees on the accounts of customers who have not told us that they have been impacted by COVID-19.
Information about Credit Reporting
For each month you are in the COVID Protected Status, we will report your account to the credit bureaus with the status your account was in when you notified us that you were impacted by COVID-19, essentially freezing the status of the account. We will also report a special code that indicates your account has been affected by a declared disaster. For customers whose credit reporting was frozen, we will report a "D" in your payment history during the months credit reporting was frozen, which indicates that no information is available for that reporting period.
Please review the FAQs below for additional information.
Q. What does it mean to have my credit reporting frozen?
A. During the time your account was in the COVID Protected Status, we will report the status your account was in at the time you notified us that you are impacted. For example, if your account was reported as current when you notified us, it will continue to be reported as current, even if you do not make a payment. However, if your account is being reported with a frozen delinquent status and you bring the account current while you are impacted, we will report the status as current. As of the date we resume normal credit reporting, your account status will no longer be frozen, and the account will be reported with the status your account is in at the time it is unfrozen. Even after the account status is unfrozen, we will continue to report a "D" in the payment history for the months credit reporting was frozen.
Q. When will reporting on my credit be frozen?
A. We will report the frozen status of the account in the next monthly reporting period immediately after you inform us that you have been impacted.
Q. How long will credit reporting on my account stay frozen?
A. How long we report the frozen status is dependent upon your state of residence. However, all accounts will report a frozen status for at least 120 days from the date the account entered the COVID Protected Status. Additionally, if you make payment(s) sufficient to close your account while the account is in a frozen status, we will unfreeze the account to report the account closure. Even after we unfreeze the account to report the account closure, we will still report a "D" in the payment history for the months credit reporting was frozen.
Q. Will freezing the reporting in any way negatively impact my credit score?
A. The purpose of freezing your account status while you are impacted is to help reduce the negative impact to your credit. However, each credit reporting agency considers different factors in determining your credit score, not just your account status with Credit Acceptance. Please contact the appropriate credit bureau for specific questions relating to your credit score.
Q. If I wanted the freeze to be removed from my credit report, can I do that?
A. If you would like the freeze to be removed from the credit report, please call one of our account representatives at 1-800-634-1506 and state that you no longer want to have your credit report frozen. Our account representative will take steps to remove the freeze and the special code indicating you have been affected by a declared disaster. We are unable to retain the special disaster code if the reporting freeze is also removed.
Q. If I wanted the freeze to remain on my credit report, but I want the special code removed indicating I have been affected by a declared disaster, can I do that?
A. If you would like the freeze to remain on your credit report, but you want the special code removed, please file a dispute by completing and submitting to us the dispute form on our website.
Q. What will happen once my credit reporting is no longer frozen?
A. When Credit Acceptance stops freezing your credit reporting in accordance with the schedule described above, your account will stop reporting the frozen status and instead will report with the status it is in at the time it is unfrozen. For example, if your account had been frozen in a current status over the past few months, but you stopped making payments and became delinquent, your account will go from reporting current in the last month we reported the frozen status to reporting the appropriate delinquent status in the following month. Each month, Credit Acceptance reports account information to the credit bureaus with the account information from the prior month. For example, if we stop freezing your account status in February, we will report the February account status in March. After the account status is unfrozen, we will continue to report a "D" in the payment history for the months credit reporting was frozen.
If COVID-19 is causing a significant financial stress on you and your family, you can consider the assistance of a reputable credit counseling organization to help you with a budget. The Consumer Financial Protection Bureau has information on credit counseling at https://www.consumerfinance.gov/ask-cfpb/what-is-credit-counseling-en-1451/.
Be aware of online scams
Please be extra vigilant about online scams trying to exploit COVID-19. The Federal Trade Commission has tips for avoiding COVID-19 scams on their website at https://www.consumer.ftc.gov/blog/2020/02/coronavirus-scammers-follow-headlines.
For current information on developments related to COVID-19, visit the Centers for Disease Control and Prevention website at www.cdc.gov.