Krista
Wichita,#2Consumer Comment
Mon, June 23, 2003
I work for an auto loan company. The laws of the contract are ALWAYS based on the state the contract is signed in... It should state that on the back of the contract. One of the last sections, APPLICABLE LAW, this contract is governed by the laws of (insert state). For instance, if you purchase a vehicle in Virginia, you will pay late charges after 7 days (excepting lease) at 5% of the payment past due... even if you move to another state that assesses late charges differently.
JACK
Las Vegas,#3Consumer Suggestion
Sat, May 03, 2003
Greed is where Americredit lives. Even if it violates the texas state laws.What does Americredit have to say to an AUDIT ON LOANS GREATER THEN 17%.THOSE LOANS WILL BE A LOSS TO YOUR COMPANY AND PUT THEM IN BANKRUPTCY////. IS YOUR COMPANY READY FOR THE CHALLANGE AND THE MONEY TO SETTLE WITH THE CONSUMERS AND STATE OF TEXAS. WHO IS QUITE HUH FRANK
David
Las Vegas,#4Consumer Comment
Sat, April 26, 2003
According to the texas State usuary laws 17 % is the max on any loans.Since, Amricredit Financial Services is only licensed out of Texas all loans must only Texas laws and not the state you signed an autlo loan cotract. ALL LOANS HIGHER ARE A VIOLATION AND NOT ENFORCEABLE BY TEXAS LAWS.CLASS ACTION SUIT////THE STATE OF TEXAS NEEDS SOME MONEY AND THOSE VICTIMS GET THEIR AUTOS FREE AND CLEAR DUE THE GREED.
Frank
phoenix,#5UPDATE Employee
Sun, January 12, 2003
You claim to not know what your payments or interest rate was? You said you were notified that your interest rate was 25.5%? If you truly didn't know what these were then you have no business buying a car. I can understand if you didn't know what finance company funded your loan, until you recieved a statement or payment book. But you've got to be kidding me... look at your contract that "you" signed, it states the interest, payment amount, date first payment due, and other pertinent information on it. If you signed a "blank" contract then the dealership can put whatever they want in there, and guess what... your screwed! Some people amaze me, they like to point their fingers at other people for their follies. The dealership drew up the contract (that you signed), they typed in the interest rate, they sold you the car, not Americredit. Americredit took a risk and was nice enough to loan you thousands of dollars in an attempt to help you re-establish your credit. If Americredit was calling you then you were delinquent on your payments. Americredit doesn't call you unless you are at least 5 days past due (as a courtesy), the more days delinquent you are, the more aggressive they are in their collection efforts. It's the same with any company that is collectng a debt. You are right, they shouldn't call you at work if you have asked them not too. They will contact you at work if they do not have a good home phone number to reach you. My suggestion is to be current on your payments to any finance company. The credit rates are not illegal, they're based on each individuals past credit performance. So if the dealership changed documents on you, shame on the dealership. If you signed a blank contract, shame on you. If you signed the contract not understanding the terms of the contract, shame on you. The only thing Americredit did, was reviewed your past credit, agreed to the contract that you agreed to (because you signed it, you agreed to it) at the dealership, and funded your loan. Then when you were late on your payments they tried to contact you to collect the payments that you owed. Remember, when you point your finger at someone, look at your hand and you will see three fingers pointed right back at you.