Robert
Irvine,#2Consumer Comment
Mon, December 29, 2008
So let me get this straight.. You were behind on your car payments and had no way to make them up do to your financial situation. So far makes sense as that happens. But because the options were "limited" with AmeriCredit you decided to hide the car. Yet they are the RipOff? So you now are "forced" to drive an older car that is paid for, by putting $600 in repairs into it. So are we to figure that you are more than $600 behind with AmeriCredit? Now, please take this as a sincere question. If you are a Single Mother and have a PAID-OFF car just lying around why did you not sell that car to make up for the payments you were behind. Not only would that probably get you even(or ahead), but you now have less insurance you have to pay because you are down to only 1 car. Or better yet sell this newer car. If you had a 3 year loan, and to have $4000 left on a 16K loan the amount of your payments would put it at about 3 years. You were probably no longer upside down and could have sold the car, received the title and still had some money left over to help you through this time. Now, here is a shocker for you. AmeriCredit didn't ruin your credit. They are a Sub-Prime lender dealing almost exclusively with people who have credit problems. So you would have already had problems when you got this loan, it was then further damaged by your current situation. Believe it or not Banks are not Non-Profit institutions. No bank is going to allow you to just not pay your payments on high value items such as a car. If you get behind they are going to report it on your credit report. If you hide it they are going to look for it.
Mike
River Edge,#3Consumer Comment
Mon, December 29, 2008
Can you please explain to me why you feel this is a ripoff? You signed an agreement with them to pay off a car loan with payments due over a set period of time for set amounts. You failed to make your payments and they want their property back. Contrary to the popular belief on this site, creditors are not required to "work with you" if you lose your job. It's noce if they do, but they don't have to. It is YOUR responsibility to do what it takes to make those payments you agreed to in your contract. As far as your credit being ruined, yes, that's what happens when you don't pay your bills.