Complaint Review: Americredit

I want to advise everyone out there not to do business with this company. Their simple interest compounded daily can add up to alot of money after paying on a 5 year plus loan

I paid a total of 65 payments for a 1995 ford taurus, making the grand total about 11000 dollars on a vehicle selling for 6800. They are saying I owe a baloon payment of 800. dollars after all loan payments were paid. I didn't have any idea this was happening. I just thought when you pay all the payments your loan is done. I was late a few payments and they said thats why they added this amount as principle not paid. I will be close to the 90day mark after them requesting the balance. I asked them why they haven't come and taken the vehicle yet and they said it wasn't worth repoing.

Can they repo after paying off the loan. But they say money is owed because of late payments. They said they would charge it off and than negotiate for a settlement with me. I tried to settle the amount but with no luck..They said they needed the full amount. Any help out there. Disatisfied customer..

anchalee
Lakehurst, New Jersey
U.S.A.