Complaint Review: American Investment Bank

Financed a 1998 Pontiac Grand Prix in 2001 with American Investment Bank. The car was repossessed end of 2002 (voluntary repossessed, they couldn't help me with a late payment or deferred payment, so I advised them to pick up). Last time I heard from these people was when they sent me a letter advising me of how much they sold the car in auction for -which was around $2500 leaving me a balance of around $8,000 dollars. That was the last time I had any contact with these people and that was last part of 2002.

I get a "continuing garnishment summons" from them on Monday, March 23rd 2009. Stated they have started continuing garnishment proceedings against me. This confused me since I've never been garnished from them before. They say I owe them around a total of $27,700 for the vehicle. I want to know how in the world they got that amount out of a balance of $8,000. Like I said I haven't had any contact with these folks since 2002 so how do I owe you $27,000... I am so pissed at these people right now.

I submitted a "claim for exemption and hearing" form, which was with the summons paper, to the Oklahoma County court. I'm currently waiting on them to send me a hearing date. Not sure what's going to happen on this day but I must start somewhere, because I re-fuse to pay the money hungry, scoundrels $27,000 dollars when I only owed a balance of around $8,000. I will do all I can to keep them from getting this large amount of money from me. They're out there freaking minds. From what I've previously read, they're not even in business anymore, phone # doesn't belong to them anymore-how can they sue me when they don't even have business anymore.

All the other individuals who have been screwed by them in the past (and present) please let me know... There has to be something we can do about this -from happening to anybody else in the future.

If anyone is thinking of doing any business with these people -please don't because they will definitely try and eat you alive.

Thanks for listening-

Brandi
Oklahoma City, Oklahoma
U.S.A.