JD ByRider - CNAC Sold me a hunk o junk lotsa problems, sued me w/o notice sold my debt 4 times now ripoff Milwaukee Wisconsin
I along with my ex husband purchased a van from JD ByRider/ CNAC in 2001. I purchased the service agreement and they had the vehicle more than I did. I paid every two weeks even though I didnt have the vehicle for weeks and weeks at a time. They never fixed the problem i would drive away and stall out down the block.
I was told by them I could have it fixed somewhere else, nevermind the fact I bought the service agreement with them! My ex husband ended up with the van and the debt in the divorce decree. While looking up my record online I noticed they sued me and him for the vehicle even though they didnt serve either of us. (He left it on the side of the road after it broke down AGAIN, and he didnt make ONE payment either, my fault for marrying an idiot I know.) I was ordered to pay around $150 plus replevin.
I do not know where the vehicle is at all. Since then my debt to them which has now climbed to almost 20,000 with all of their fees, has been sold to four different companies.
I sent the last one a copy of the judgement along with a drop dead letter since they were so not nice to me or understanding of the situation. Needless to say the debt is almost 7 years old and I know they have to list the correct date on my credit report, however they have sold my debt to make it look like I opened a loan with the company and CNAC has my debt listed as a charge-off after I contested all this action on my credit report which is now totally screwed.
Besides the fact they keep selling the debt after they sued me what am I missing here this seems so illegal! I know a lot of people who have been suckered unfortunately by this company.
Do I have legal recourse?
Seems to me like they have broken the law quite a few times as well as these "collection/loan" agencies whatever they are. What can I do I am lost on this and feel I deserve vindication.
Oh and please anyone reading this don't get tempted by their ads. They lied to my face and said they were seperate companies JD ByRider and CNAC, however I caught them in that lie when I showed them the first good remark on my credit report that listed them both as creditors.
April
Milwaukee, Wisconsin
U.S.A.
2 Updates & Rebuttals
Joe
Centreville,Virginia,
U.S.A.
Unfortunate
#3Consumer Suggestion
Wed, June 27, 2007
I am responding because most people do not know the process for your type of situation......to start I am an experienced collections manager; I have worked with car loans, credit cards, and mortgages. So I know what I am talking about....unfortunately most companies.. i.e. CNAC...do not practice "customer service" and one of the main reasons that I refused an offer to work for them.....with that being said a company, either the one that originated the loan, or a collection company do not honor a divorce decree...the reason is that the original loan was signed by both parties, so both parties are held responsible....the divorce is a domestic action and what the decree enables you to do is take the other party back to court to resolve any damages or receive money that you had to pay in result from them not honoring/following the divorce decree.
The only way to get the loan completely out of your name would be to refinance..being that a car loan, mortg, or even if the other person took out a consolidation loan to pay off shared debts.....but that is the only way.....
Now as far as it being charged off....the process for a charge off is so that the company saves itself from further money loss...they charge it off as a loss and to try to gain a profit they sell the debt to a third party collections company....once it is sold, CNAC (or any company that charged a debt off) has nothing to do with it except providing archived records (most of the time they give that to the first company)
Now a charge off does not mean the debt goes away it is just a legal way for the company to stop losing money, but now a 3rd party has it and they will sometimes add fees and or interest to it....(this is also stated in every loan agreement that you sign)...their purpose is simply to make as much money as possible..now if time goes by and they have not collected the balance in full, or settled the debt, and have not had any activity (either payments or actually talked to you) that company will sell it to another company in hopes to make any kind of profit off of that debt.....
And this brings me to a point that I would like to share to anyone reading this....it will not go away after 7 yrs....the 7yrs applies to debts that are NOT active for 7yrs...meaning nothing has been done involving that debt...so your charge off will go away after 7yrs but the actual loan will not because of the contact with you and the selling it to different companies, this goes for anything.
So if you feel that you were sold a lemon, look up the lemon law in your state/county/town/city...then if need be see an attorny..but for future situations the best thing is to document who you talk to, name (I.D. number), date, time. Keep a file of everything involved with that company...so you have something to go on...also keep on paying, it is very hard to correct items on your credit after fighting it.
So it is easier to bite the bullet and then get damages afterwards..you are only hurting yourself when you do not pay unfortunately...Also get familiar with the FDCPA (Fair Debt Collection Practices Act) this is federal law pertaining to how company's need to collect on past due items....your state might have extra laws on top of the FDCPA.....you can find it all over the internet. :) Hope this helps you and also explain some of the process.
April
Milwaukee,Wisconsin,
U.S.A.
Update
#3Author of original report
Sat, June 09, 2007
I forgot to add the company the debt was sold to as of now, had the nerve to try to comment and have a conversation about my credit report. How can this be pulled if I am not doing business with them or asking them for any services. Can certain companies just look at credit reports whenever they decide they want to? Is there no just cause to view protected information? If not that needs to be addressed because someone most definitely will abuse that loophole.