Complaint Review: Americredit - Fort Worth Texas

I noticed megan reported that Americredit tries everything before they reposses a car. I am sure that is true for most finace companies but what she isn't saying is what they are taught. And it has been said that Americredit tries very hard to structre there loans so that you can't pay. (http://www.southernstudies.org/reports/driventomisery.htm) They want you to default so they can take the secured asset and try very hard to gurantee payment by garnisghing your wages. Americredits system of finance and customer service is so screwed up. Their employees can't be trained very well because according to this site http://findarticles.com/p/articles/mi_m3495/is_8_46/ai_78132954 yes it is an article form '01, employees get bonuses for referring their friends for a job. That is crap, they can't even do regular employee searches. That business practice garuntees u can't get quality people who can even speak reasonably. This company is crap and I regret trying to fix my car on my own, which led me to think I had only one option, get financed trhough a predatory lender eventhough i had a 675 credit score.

I worked for Amercredit for 2 yrs. I have been in collections for over 10. This is to Doug????? and his comments. Go back and research the law some more before you make your comments. There are things called a cease and desist 99% of the time need to be in writing however there are 3 states that a verbal will hold up only when calling the place of employment. Further more not all states require a pre repo letter prior to repoing your car. Cont..... As far as making or losing money when repo accurs, If somebody does not make a payment on a loan then you are in default of the contract and they can sue your A.. When they sell the car at auction they recoup some of there losses rather then continue to allow somebody to drive there collateral around which by the way 99% of the time is not insured. These cars go to a dealer's auction not to the gen public there for a lower sale price. Americredit makes every attempt to work with people and use repo as a last resort. They are a first party lender so FDCPA does not apply however they do addheader if for anything else good buss ethics. However a debtor refuses to answer there calls or make sutable arrangments there for leaving no option but repo So before you bash you really need to learn the collection laws if you have any questions I will be more then happy to advise you as such or better yet have your atty contact me I would love to discuss this subject. Final comment for all that feel unjust either pay your bill or simply give up the car if you can no longer afford it.......Problem solved.... If somebody owes you money I would assume that you would liked to be paid as agreed.

I had an auto loan through Americredit and things went okay. Americredit loans are generally for consumers with poor credit and generally they are going to offer better terms than most other companies that "cater" to consumers with bad credit. You have to understand going into your loan with Americredit that you are not going to get much leeway if you miss payments. I was late on a couple of payments, paid the late fees, and caught back up - they called consistently until I caught up but didn't threaten or attempt to repo. They generally give you a little time to get caught back up and there will be late fees. It's not a wonderful experience to fall behind and pay the fees but it's not like you are late on a payment by a couple of weeks and they come out and take your car. I paid off my loan about a year ago and I would consider another loan through them but I know that the payments have to be made on time. If you're late on payments you're going to have to pay a fee and if you don't make your payments and get to far behind they will repo your vehicle. They will not renegotiate your loan terms - that's who they are - a little above some of the companies that deal with people with bad credit but they don't play around if you're late or miss payments. Make your payments on time and you won't run into trouble - or at least I didn't.

Hey guy, you might need to go back and read ALL of the posts again. I said that I found 25% of these people's posts were due to the fact that Americredit brought trouble onto themselves when they decided to intentionaly and directly make those people late and forced them to pay late fees and UNLAWFUL interest on those late fees and then repoing anyway! I know that Americredit has people on here trolling this site. I want them to know that SOMEONE will be recording all transactions with them. I encourage you people to do the same. Maybe if they now they will be recorded and documented, they will start abideing by the laws of this country. My identity on here is not true for one reason. They will not know WHO is recording them. I don't live in Texas and my Name is not doug. I could be anyone from anywhere in the country. They figure if someone has bad credit then they will not be able to afford an attourney to kick their asses in court. I just happen to have a business lawyer in the family that has given me advise and I am passing it on. I am sick of campanies that screw consumers for corporate gain when they try to repair or rebuild their credit. I see it the other way around. If they don't screw me and my ontime payments then THEY won't have any problems with me. BTW, I just can't see your logic in statements like "well, they want you to make payments. They make more money if the customer makes the payments, They lose money if they repo." Try this on for size. IF those statements were true, why do they repo EVEN THOUGH the customer is having a hard month or two and is willing and trying to make arangements with them to get caught up. Instead, they give them s**t, lie to them and repo anyway? DOES THAT SOUND LIKE THEY WANT YOU TO MAKE THE PAYMENTS?? HELL NO it doesen't! They KNOW without a dought, that they will never see any more money from someone they screw. They KNOW this, So why the hell do they do it? ANSWER THAT ONE! And don't tell me it is to try to recoup some of their loses. That is horseshit. They sell your car that is worth $10,000 for $1,500. You call that recouping their loses? Get a fricking clue! They wait till you are almost paid up, make up some lies like you were late (maybe you were) because we decided to hold back a few payments from your account without LEGALLY telling you and you now are late with all these fees and ILLEGAL interest from 2 YEARS AGO. They then repo and resell to make more money off the car. Does that sound like an HONEST company to you? If you say yes, then there is no hope for you. There was one person that got fired because of Americredit calling her job. I would have owned Americredit if I had been her. People, posting to this site and others like it is just the first step in retaliation. You must follow through. Don't just post your story here and WAIT for someone to fight for you. Many single lawsuits have more of an effect on a company than one class action and it will cost the company more! Don't just call one or two lawyers and then give up because those two turned your case down. Call ALL of them untill you find one that will! If you have all documents that has concrete proof that you have been done wrong, a lawyer wil1, most likley, not turn you down. You may even want to call your local news station and plaster their a*s all over it. Most of them eat up stories like yours. DON'T bother going to the BBB. They have become useless pieces of s**t that get payed by the companies they represent. You will get nowhere with them. Good luck!

I always read these Americredit complaints and feel compelled to tell about my experience. After grad school -- when my credit was not strong -- I desperately needed a car. I bought a modestly priced Nissan from a dealer that was financed with Americredit. I think my interest rate was in the high teens, but I really needed a car. I NEVER had a problem with them because I ALWAYS made my payments in full and on time. ANY lender gets nasty when you don't pay -- this is not something unique to Americredit. EVERY complaint about this company usually has a sentence like "Then I ran into some financial problems..." or "Then I fell behind on my payments..." embedded in it. I eventually sold my car privately, made a little profit, paid Americredit off and leased my next car through Toyota/Lexus Financial. I also should say that this was back in 1998 (when I bought my car I sold it in 1999) So, unless Americredit has changed substantially, it's about personal responsibility people. If you have any, you won't have any problems. The fact some people continue to have financial problems and cannot honor their end of the contract they signed with Americredit does not constitute a ripoff and does not mean Americredit is the "worst finance company EVER." My ONLY complaint was it took Americredit a long time to send me the title.

I always read these Americredit complaints and feel compelled to tell about my experience. After grad school -- when my credit was not strong -- I desperately needed a car. I bought a modestly priced Nissan from a dealer that was financed with Americredit. I think my interest rate was in the high teens, but I really needed a car. I NEVER had a problem with them because I ALWAYS made my payments in full and on time. ANY lender gets nasty when you don't pay -- this is not something unique to Americredit. EVERY complaint about this company usually has a sentence like "Then I ran into some financial problems..." or "Then I fell behind on my payments..." embedded in it. I eventually sold my car privately, made a little profit, paid Americredit off and leased my next car through Toyota/Lexus Financial. I also should say that this was back in 1998 (when I bought my car I sold it in 1999) So, unless Americredit has changed substantially, it's about personal responsibility people. If you have any, you won't have any problems. The fact some people continue to have financial problems and cannot honor their end of the contract they signed with Americredit does not constitute a ripoff and does not mean Americredit is the "worst finance company EVER." My ONLY complaint was it took Americredit a long time to send me the title.

I always read these Americredit complaints and feel compelled to tell about my experience. After grad school -- when my credit was not strong -- I desperately needed a car. I bought a modestly priced Nissan from a dealer that was financed with Americredit. I think my interest rate was in the high teens, but I really needed a car. I NEVER had a problem with them because I ALWAYS made my payments in full and on time. ANY lender gets nasty when you don't pay -- this is not something unique to Americredit. EVERY complaint about this company usually has a sentence like "Then I ran into some financial problems..." or "Then I fell behind on my payments..." embedded in it. I eventually sold my car privately, made a little profit, paid Americredit off and leased my next car through Toyota/Lexus Financial. I also should say that this was back in 1998 (when I bought my car I sold it in 1999) So, unless Americredit has changed substantially, it's about personal responsibility people. If you have any, you won't have any problems. The fact some people continue to have financial problems and cannot honor their end of the contract they signed with Americredit does not constitute a ripoff and does not mean Americredit is the "worst finance company EVER." My ONLY complaint was it took Americredit a long time to send me the title.

You know, I have recently purchased a new vehicle and dealer sent it to Americredit. I came here to look them up and was terrified from what I was reading. I am trying to rebuild my credit and I will not let these people destroy it. I have seen a pattern in 75% of these posts that states "well, I was late a few times" or "I fell behind on a few payments". Please know this, a finance company has every right to repo your car if you are even one day late. BUT they must do it LEGALY! From what I read here, they have not done so. They must send you a repo letter and they must give ample time for it to reach you before they send the repo man. Also, if you catch the repo man trying to repo your vehicle, he MUST BY LAW leave (WITHOUT YOUR CAR) if you tell him to or YOU CAN SUE HIS A**. Also the other 25% of people say that they were never late and that Americredit took payments ontime but didn't credit their account untill after the due date. Let me tell you something, IT DOES NOT matter what day they decide to credit your account. IT DOES matter, in a court of law, what day they TOOK or ACCEPTED your payment. If you keep records of your bank statements and other transactions and they repo your car even though you are current, they broke your contract therefor, YOU CAN SUE THEIR A**! It does NOT state ANYWHERE on my contract with them that I must pay interest on a late payment but states that I must pay 5% of the SCHEDULED payment as a late fee and NO MORE! So therefor, they CANNOT MAKE you pay extra interest on a late fee or payment! IF they try to make you and you refuse and they repo, YOU CAN SUE THEIR a*s! If they call you at work or your refrences, neighbors ect.. after you tell them to stop YOU CAN SUE THEIR A**!! If they are not reporting your credit corretly or applying your payments to principal and interest properly and they repo your car because they forced you to get a lawyer involved, YOU CAN SUE THEIR A** for breach of contract! You need to download a program called Loan Amortizer. It will help you calculate the payments as far as principal and interest and also figures in extra payments and late fees. KEEP ON TOP OF IT! If they repo your car and sell it before they legally can and before you can do anything about it, get WRITTEN STATEMENTS from whoever you can like the repo people themselves or the police. Tape record ALL convesations with EVERYONE you talk to and SUE THEIR A**!! You guys need to start tape recording ALL telephone convesations and voice mail from Americredit and catch them in their lies. From what I hear from you people about what they tell you when their collectors call is ILLEGAL! Let them try their crap with me. My lawyer as well as the judge will have a field day with them after they listen to how they treat people. You guys need to get up off your butts and do something about it. They are treating people like they are because you people are letting them. Plain and simple. You need to call a LAWYER (alot of lawyers will take the case if they expect to win money and take their cut out of it, but you can also make Americredit pay for your lawyer), your state's Attorney General, Consumer Affairs, the congressman or hell even the President if you need to. YOU HAVE THE POWER TO STOP THEM! Also, I think that there is a law that states that they CANNOT FORCE you to make a payment through a SERVICE that charges you extra fees like WESTERN UNION! I am still checking on this one. I will not send anything though WU simply because of all the Nigerian scams going around. It is your choice, YOU make it!

Americredit (NYSE: ACF) is a publicly-traded, American company. In fact, by owning a few hundred shares, I am a partial (but passive) owner of the company. I do not nor ever have had a loan through ACF, so I am unable to comment on customer service issues. What I do know, is that ACF issues insured bonds to investors, and uses the proceeds to purchase high-risk car notes from independent automobile dealers. They also service the loans. The bond holders and bond insurers have strict requirements regarding the quality of the loans ACF buys. Such requirements require ACF to collect on delinquent loans aggressively. Repossession of an automobile is a last resort. In fact, Americredit loses money on "repoes" most of the time. They would rather find a way to keep the payments and late fees rolling if at all possible. Customer Service perhaps mishandled your situation---- I have no way to know except your account of what happened. I do know, however, that they determined taking your car was the only way to recover at least part of what they were owed by you. It would have been much more profitable to find a way to keep collecting payments from you.

I've been reading several threads about Americredit and I've got to say, that although i am usually mistrustful of any corporation, especially a finance institution, Americredit has been overly fair and decent with me. I've had four cars through this finance company and have been a customer since September of 2001. My first car with them was a 1996 Chevrolet Cavalier coupe which i traded for a 1998 Chevrolet Cavalier coupe which was traded for a brand new 2005 Chevrolet Cobalt coupe which was just recently traded for a 2007 Chevrolet Cobalt SS/SC coupe... In the past 5 years, my financial and work life changed repeatedly, my income going up and down and up again and which each change in situation, this company was more than willing to work with me. In the case of a couple of payments being late, i called them, spoke with a customer service rep immediately had resolution on the spot. In several instances (my employer had lost our paychecks), Americredit did not penalize me for the payment being 14 days late. My credit history was not a spectacular one, being young, i foolishly went delinquent on several loans early on after high school and after finally smartening up, Americredit was the only company that would lend me the money for a much needed newer car. In 2001, there was only so much repair I could do to my aging 1986 Dodge 600 coupe and my job requirements were taking me farther from home... i NEEDED a new car. I'm just passing along my experiences.

Out of all the companies to deal with, I had to get this one. They are the worst company I have ever dealt with. I Am getting my car repoed and I really dont want to fight since at least the phone calls will stop. Bought my car for 12500 and have one year left. I had some financial woes but as long as I have a great family to fall back on and GOD in my heart, those *&*& can kiss my pearly white @#$%&*^(. I am American, true to the heart, so lets stop dealing with foreign companies like this one. They are robbing our society, and having a good time doing it. There needs to be a stonger voice for us out there somewhere on this matter...anyone have any suggestions? I think they should be sanctions on loaning in the US. By the way, I had bad credit and now it is worse, since I dealt with these weirdos. 100% AMERICAN.

I had a loan through Americredit when I had little established credit. They took a chance on me and I've had no problems. I paid off my car last year and had absolute no problems with them. I've lost jobs and barely scraped to make the payment but I did and on time too - that's what I agree do so I did it. I have nothing bad to say at all. I even let my insurance lapse a few months when I lost my job because I couldn't afford it and all they did was tell me that I needed it. Most other companies would've put their own insurance on the payment and made it really expensive. When I paid off the car, like a month later, I got a check for $1.70 for the amount I overpaid on my last payment. When I saw that I just thought, wow what an honest lender! I've read most complaints on this company and they were all self-inflicted. I knew I was getting an 18% rate on my loan and I knew I had to make the payments on time, just like everone else on here who is complaining. I'd use them again if I needed to without question.

Julie, I can't see how Americredit did you wrong, aside from your unfortunate circumstances. It is not the fault of the lender that you feel you got a bad deal with a high interest rate on the car. But when you signed the contractural obligation to drive the vehicle, you gave the dealer and ultimately the new lender "Americredit" authorization to collect monthly installment payments of the said amount. What was the amount? And what was the amount you tried later to negotiate due to affordability? I find that really hard to believe you couldn't afford it. I used to work in a call center at a bank making $10.75 an hour and qualified for a $600 a month payment on a new Dodge Caravan. Was I ripped off? Absolutely!! But I didn't go and fire at my lender the way you have done here. By the way, I was the only breadwinner of a 3 child family and I was eventually laid off and out of work for a few months during that term. I still found ways to come up with my high payments. Savings, Church, family, Credit Cards, other loans - I always found a way. More importantly, I went back to school and used Loan and Grant Money to help out as well. So they tried to contact you to the point of annoyance to get your first payment? OK Wouldn't you do the same thing if your employer said "I know you were expecting THIS much money, but now that I haven't paid you as expected, can I pay you a little bit when I got it?" Unacceptable - RIGHT? Pay your bills, cut back on other things that are extras and don't be afraid to ask for help. Fortunately, the world is flooded with used cars for sale and with the right down payment, you can go qualify for another one regardless of anything else. Thanks.

Julie, I can't see how Americredit did you wrong, aside from your unfortunate circumstances. It is not the fault of the lender that you feel you got a bad deal with a high interest rate on the car. But when you signed the contractural obligation to drive the vehicle, you gave the dealer and ultimately the new lender "Americredit" authorization to collect monthly installment payments of the said amount. What was the amount? And what was the amount you tried later to negotiate due to affordability? I find that really hard to believe you couldn't afford it. I used to work in a call center at a bank making $10.75 an hour and qualified for a $600 a month payment on a new Dodge Caravan. Was I ripped off? Absolutely!! But I didn't go and fire at my lender the way you have done here. By the way, I was the only breadwinner of a 3 child family and I was eventually laid off and out of work for a few months during that term. I still found ways to come up with my high payments. Savings, Church, family, Credit Cards, other loans - I always found a way. More importantly, I went back to school and used Loan and Grant Money to help out as well. So they tried to contact you to the point of annoyance to get your first payment? OK Wouldn't you do the same thing if your employer said "I know you were expecting THIS much money, but now that I haven't paid you as expected, can I pay you a little bit when I got it?" Unacceptable - RIGHT? Pay your bills, cut back on other things that are extras and don't be afraid to ask for help. Fortunately, the world is flooded with used cars for sale and with the right down payment, you can go qualify for another one regardless of anything else. Thanks.

Julie, I can't see how Americredit did you wrong, aside from your unfortunate circumstances. It is not the fault of the lender that you feel you got a bad deal with a high interest rate on the car. But when you signed the contractural obligation to drive the vehicle, you gave the dealer and ultimately the new lender "Americredit" authorization to collect monthly installment payments of the said amount. What was the amount? And what was the amount you tried later to negotiate due to affordability? I find that really hard to believe you couldn't afford it. I used to work in a call center at a bank making $10.75 an hour and qualified for a $600 a month payment on a new Dodge Caravan. Was I ripped off? Absolutely!! But I didn't go and fire at my lender the way you have done here. By the way, I was the only breadwinner of a 3 child family and I was eventually laid off and out of work for a few months during that term. I still found ways to come up with my high payments. Savings, Church, family, Credit Cards, other loans - I always found a way. More importantly, I went back to school and used Loan and Grant Money to help out as well. So they tried to contact you to the point of annoyance to get your first payment? OK Wouldn't you do the same thing if your employer said "I know you were expecting THIS much money, but now that I haven't paid you as expected, can I pay you a little bit when I got it?" Unacceptable - RIGHT? Pay your bills, cut back on other things that are extras and don't be afraid to ask for help. Fortunately, the world is flooded with used cars for sale and with the right down payment, you can go qualify for another one regardless of anything else. Thanks.

Julie, I can't see how Americredit did you wrong, aside from your unfortunate circumstances. It is not the fault of the lender that you feel you got a bad deal with a high interest rate on the car. But when you signed the contractural obligation to drive the vehicle, you gave the dealer and ultimately the new lender "Americredit" authorization to collect monthly installment payments of the said amount. What was the amount? And what was the amount you tried later to negotiate due to affordability? I find that really hard to believe you couldn't afford it. I used to work in a call center at a bank making $10.75 an hour and qualified for a $600 a month payment on a new Dodge Caravan. Was I ripped off? Absolutely!! But I didn't go and fire at my lender the way you have done here. By the way, I was the only breadwinner of a 3 child family and I was eventually laid off and out of work for a few months during that term. I still found ways to come up with my high payments. Savings, Church, family, Credit Cards, other loans - I always found a way. More importantly, I went back to school and used Loan and Grant Money to help out as well. So they tried to contact you to the point of annoyance to get your first payment? OK Wouldn't you do the same thing if your employer said "I know you were expecting THIS much money, but now that I haven't paid you as expected, can I pay you a little bit when I got it?" Unacceptable - RIGHT? Pay your bills, cut back on other things that are extras and don't be afraid to ask for help. Fortunately, the world is flooded with used cars for sale and with the right down payment, you can go qualify for another one regardless of anything else. Thanks.