Americredit we were forced to make a payment that was only due one day prior Ripoff Phoenix Arizona
two months after having a banckruptcy discharged, we had to find another vehicle. we found a dealership that would finance us first then picked out a vehicle.
we knew from the start the interest rate would be high due to our banckruptcy. the finance company was AMERICREDIT, and we've regreted it ever since!
we bought our vehicle in july, 2002, with a five year loan being paid off in july, 2007. we have defered 1 payment in february of this year, 2006, making our final payment due august, 2007.
upon falling on hard times in the past we had managed to make partial payments at a time to keep our car from being repossed. now we're talking only 30 days past due, not 60 or 90! we were told we had to do this or they would reposses.
our payment due date is on the 11th of the month. today is july 12, and we owe for the june payment. i called to give them a post dated check for that payment and another for the july payment. our payments are $449.34 per month and i had the two checks written out for july 28 and august 11, as we are paid bi-weekly. they would not except this.
i had to give them the amount of june and half of julys payment on july 28 and the balance of july on august 11 or they would not except any arrangement or payment!! this as i explained, would put a hard financial burden on us for that folling two weeks and what is the difference between 2 full payments as opposed to 1 and 1 half payment and another half payment! it equals the same amount!!! i was told that is the only way they will except payment. how can they demand a payment that was due just yesterday?
also on the deferment, we have only defered 1 payment and they said their records indicate 6. we've only had the loan for 4 years, how can we defer 6 times? so now they're trying to get another 5 months out of us or take the car this close to pay-off! we do have all of our bank statements and or western union reciepts which will prove we didn't. it's going to take awhile to gather them but it will be worth it to prove they are indeed crooks!!
we are called no less than 4 to 5 times a day starting on the 11th. i've been called at my work when they were told not to and we have also been told at one point maybe we should get better jobs to make our payments!! this is total harrassment and uncalled for and they need to be stopped!!!!
Kenneth
hedgesville, West Virginia
U.S.A.
3 Updates & Rebuttals
Greg
Omaha,Nebraska,
U.S.A.
One last thing
#4Consumer Comment
Sun, July 23, 2006
You think they want to 'make money' by getting to sell the car again. They in reality almost always lose money in a repo, and legally if they could actually double their money, you would be entitled to any money in excess of the payoff plus admin costs.
A 2001 Mustang would auction for about $6500- $7000, so right now, you will have equity in the car once you make the remainder of your late payments. My advice, save the $450 a month and pay cash next time.
Kenneth
hedgesville,West Virginia,
U.S.A.
americredit
#4Author of original report
Fri, July 14, 2006
thank you for your rebuttal, but the problem is is that our due date is on the 11th of the month and our payments are usually made within a week or two from that date, with the exception of approximately 6 within the 4 year period, but they report it as 30 days on our credit report even though thirty days has not passed.
also the fact that we haven't had a problem with them, aside from the fact of the high interest which is our fault from the banckruptcy, that they do not want to cooperate now so close to pay-off and it seems they are trying their best to get the car back to double their money by resale.
by the way, it's a 2001 red ford mustang which i'm pretty sure they know they can resell for double the pay-off, therefore making a tremendous amount of money from just 1 car.
Mark
Cablon,Idaho,
U.S.A.
Just be careful
#4Consumer Suggestion
Thu, July 13, 2006
By filing bankruptcy, and then paying late, people may start to brand you as a bad borrower, and then give you high rates. And then call our home when you are late.