TRIAD FINANCIAL CORPORTATION - ROAD LOANS What to do if you think you have been charged excessive fees and interest. North Richland Hills, Texas
I have my car financed with Triad. Have been making $483 monthly payments for 5 years. Never over 30 days late. Loan has matured and all of a sudden I owe an additional $4,900 for fees and additional interest.
Have financed many cars throughtout my life and never have had this happen.
I have been on-line and found numerous complaints. There are also many complaints with the Better Bussiness Bureau.
Can anyone that has had this similar situation please give me some advice on how to handle.
Thank-you
Leon in Fort Worth
2 Updates & Rebuttals
Lucy777
Sherman,Texas,
U.S.A.
Leon
#3General Comment
Mon, November 30, 2009
I am with you, same thing happened to me. How do we get on a class action suite.
How do we stop these people. Read my complaint from Sherman. If you hear anything from anyone, let me know too.
Robert
Irvine,California,
U.S.A.
Well
#3
Mon, September 21, 2009
You probably owe the money.
Your initial payments were calculated on you paying your payment on or before the due date each and every month of the loan.
There is no Grace Period for interest assessed. Never being more than 30 days late is not good enough. If you pay 3 Days late you will be charged 3-Days of additional interest. There are also late fees, most loans give you anywhere from 5-10 days before they assess a late fee on top of the additional interest.
While $4,900 does seem high, since you probably had a very high interest rate(being a sub-prime loan), it may be quite possible. Especially if you were late more than a few days, several times during the loan.
If you trace back ALL of your payment dates, balance, and interest rate and plug them into an amortization table you will probably find that everything does match up.