NEWS
Auto-loan settlement sets November relief date for eligible CAC borrowers
State notices describe targeted debt relief and restitution; having a Credit Acceptance loan does not automatically qualify a borrower.
By Staff Writer · Reviewed 2026-10-05
Settlement and affected borrowers
Virginia and Georgia announced a multistate Credit Acceptance Corporation settlement in September 2026 with $694 million in cash and debt relief. The notices give November 2, 2026 as the effective date. The settlement addresses allegations concerning unaffordable loans and unwanted service-contract or GAP add-ons; those allegations should not be read as findings about every loan.
The relief targets specified risky loans. For qualifying loans originated from November 1, 2015 through November 30, 2025, the agreement calls for debt relief by November 2, including accounts where vehicles were repossessed and accounts where borrowers still have their cars.
How to check your situation
CAC must notify consumers eligible for debt relief; a claims administrator will notify people eligible for cash restitution. Keep your account and contact information available and confirm eligibility through those channels. The effective date is not a universal application deadline.
Virginia lists CAC’s number as 800-634-1506 and its consumer hotline as 804-786-2042. Georgia consumers can contact 404-651-8600. Neither notice establishes an individual borrower’s award amount.