Crescent Bank and Trust Chooses to change contracts to favor them new orleans lousiana
My wife and I purchased a 2008 Chevy equinox at our local Kia dealer. We went through abank called Crescent Bank and Trust. We signed an agreement to pay $505 and some change on the 15th of each month. We did admittedly hit financial hardships and fell behind on payments. We missed two payments and on the 5th of December tried to make one full month payment and make arraingments to pay the behind balance off by Jan 2. They tried to tell us we where behind thre months though our payment was not due until the 15th of the month as per the contract we signed. They openly have stated this in a file with the BB. Though they also say we fell behind 3 months in the same response. They have tried to interrupt the language of the contract to suit them. This is not how you due business. They gave a loan to "high risk" people. I take full responsibillity for that. My credit is unfortunately damaged by my fathers account some how being on it. This is off subject but I knew what I was agreeing to and so did Crescent Bank and Trust. To try to change the language of the contract and then not accept a full payment and try to work with your customers makes no business sense. The asking price for the Equinox was 15k, and with 22% interest, yes you read that right, we would have paid 30k for the car, or double by the end of the loan. Again knowing where we sat credit wise we agreed. Crescent not only would not work with us as we offered a full payment but tried to force us to pay 3 months, or a month in advance to be "up to date". I completely want to warn people about his horrible company. I take full responsibility for falling behind. Yet we were two months behind offering to pay one full month plus the late fee, plus $100 toward the next payment for good faith.
I understand they don't accept partial payments and therefore could not take the extra $100. In sayin that they could have taken the one month payment and set up payment arraingments. Again this is not how you should conduct your business or treat your customers, "high risk" or not. You don't try to change the language of a contract to benefit yourself, it is one illegal and two immoral. Again I highly recommend avoiding workign with this company.
Steve
Toledo, Ohio
1 Updates & Rebuttals
Robert
Irvine,California,
You are running your excuse machine at full power
#2Consumer Comment
Fri, December 26, 2014
The typical "Sub-Prime" borrower who blames everyone else and then thinks a company is ripping them off when they are the ones who are not fullfilling the contract they agreed to.
My credit is unfortunately damaged by my fathers account some how being on it.
- I have news for you, it isn't only this mysterious account that is causing you a problem. First of all if you didn't lie making it seem like you didn't know how the account got on there, you would have disputed it with the credit reporting agencies to have it removed. Since you did not do that, it is obvious you know EXACTLY why your fathers account is on there.
Yet we were two months behind offering to pay one full month plus the late fee, plus $100 toward the next payment for good faith.
- You seem to be focusing on the typical sub-prime misdirection. You were 10 days short of being 3 months late, yet that is the focus of your complaint? So what is your solution..to pay 1 month and 1/5 of the 2nd month payment..oh but you add "in good faith". But guess what...you would still be DELINQUENT by 4/5 of a month's payment and in a few days another full month. If you truly wanted to pay them "in good faith" you would have made the 2 months payment IN FULL.
Oh and one thing you seem to be missing. Because you are delinquent they have the legal right to reposess your car outright. In fact most sub-prime lenders would do this after you become just a few days behind. Since they did not do that even when you were almost 3 months late, you should be on your knees thanking them.
You don't try to change the language of a contract to benefit yourself, it is one illegal and two immoral
Please tell us where in the contract it said you could make a partial payment? The contract stated you must make a payment on the 15th of every month...you FAILED to do that. YOU are the one trying to change the contract to get them to accept a partial payment.
So now who is the one trying to change the contract to beneift themselves? Seems like if you want to see the one who is illegal and immoral by your definition, all you need to do is look in the mirror.
By the way...it is now 11 days past the 15th..just how many months delinquent are you now?