Complaint Review: DRIVE FINANCIAL

Our new vehicle was financed with Drive Financial in January 2008. Our first payment was due Feb. 2008 and was paid/credited with no problem.

Our March payment check was cashed by Drive Financial, but not credited to our loan account. They did not send us any notices of a late payment via e-mail or postal mail, but called us every day 5 times a day and never left a message.

By the time they spoke with us the payment according to them was 21 days past due.This was the same payment that had already cleared our bank several weeks earlier.

Any time that we have tried to resolve this matter we speak with some rep. in the Bahamas that has no idea of anything that is going on with our account. At this time (April 24, 2008), we have faxed a copy of the cleared check to them 3 times and they have yet to "find" our $700.00 car payment!

We have reported them to the Better Business Bureau and our bank (Chevron Federal Credit Union) has reported them too. We have finally gotten a phone number that is actually in Texas and not in the Bahamas. We have now faxed the check copy again and have given them until April 28, 2008 to "find" our payment and credit it to our loan.

They have also charged us late fees and reported us to the credit bureaus for being late on a payment that was never late.

If this is not resolved very soon we will be seeking legal counsel. This company is a predatory lender and should not be in business. They charge a huge interest rate and fees that should be illegal.

Glen and Jamie
Moss Point, Mississippi
U.S.A.