- Report: #294574
Complaint Review: LBAC Long Beach Acceptance Corporation - Los Angeles California
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LBAC Long Beach Acceptance Corporation
lbac.com Los Angeles, California, U.S.A.
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LBAC Long Beach Acceptance Corporation being honest and calling in before late doesnt help Los Angeles California
Ahh LBAC, well I have read all the notes. In September, I called and asked to voluntary repossess my car. After being talked to rudely, threatened, talked down to, after sending 4 letters, 3 e-mails...it was not until I recorded a conversation with the representative who threatened to garnish my wages, let my car go out passed 120 days, ruin my credit for life....call my sick mom, threaten to force the sale of my home...yes my roof over my head. Once I stated the call was being recorded then it only took another 90 days to make arrangements for the 'voluntary' surrender. I called, I brought the car to the repo man and all I asked for was to be treated with dignity. When anyone falls on hard times and tries to do the right thing, it was either walk away from the high car payment of $626.00 a month or walk away from my home. I was upfront. I was laid off my 8 yr job with 250 other associates when my company was sold and went from making $56,000 a year to $14 an hour. It took me over 7 months to find a permanent position, by then my credit was gone down the tubes and I knew I needed a 12 month plan to play catch up without filing bankruptsy. I tried with 5 companies to re-fi my vehicle. I asked to have my payments lowered to $425 and extend the loan out due to my situation, I asked them to re-write the loan, all to no avail. I was promised a 2 month extension with the back payments placed to the end, but it was denied and I was not notified. So In Sept, I made a payment and then asked for a voluntary repossession. Well I did call, and no one wanted to assist, I was threatened, I was talked down to, I was called a deadbeat, I was placed on hold for 1+ hours with noone coming back to the phone. I did find out that Americredit out of Texas is now the parent company to LBAC and they do not allow this kind of treatment. Once all is resolved, I am going to write a detailed letter with names, times, and unnecessary comments. With the economy heading to a recession and thousands losing their jobs each month....all should be treated with decency even if it is to turn the vehicle in. Easy decision, NO!!! But I tried to do the honorable thing. The commercially value of my vehicle is 19,395 based on kelley blue book, and 20,650 NADA guides. Without the repo fees, I should only have a deficiet of $1-2000. Yet, since I brought the vehicle in one month ago, not a word. I have hired a debt relief company to assist me through this honorably as now when I contact LBAC they now say that they do not want to discuss this matter with me. Again, I am only trying to do the right thing but I also want to make sure that they are selling the vehicle at the commercially right price and not lower as I want to make sure my rights are not violated.
If this company could only have someone who dealt with individuals that were trying to do the right thing, as I was. I went to them, I repeatedly called them and it did not make a difference.
Denise
BCC, Arizona
U.S.A.
If this company could only have someone who dealt with individuals that were trying to do the right thing, as I was. I went to them, I repeatedly called them and it did not make a difference.
Denise
BCC, Arizona
U.S.A.
2 Updates & Rebuttals
Denise
BCC,Arizona,
U.S.A.
no offense taken, however
#2Author of original report
Thu, December 27, 2007
I hired an attorney, and it is a law that The sale of a repossessed car must be conducted in a commercially reasonable manner-according to standard custom in a particular business or an established market. and the sale price might not be the highest possible price-or even what you may consider a good price-but a sale price far below fair market value may indicate that the sale was not commercially reasonable. Our Arizona state law, failure to sell the car in a commercially reasonable manner gives you either a claim against your creditor or lessor for damages or a defense against a deficiency judgment-a court order mandating you to pay the debt you owe. This is in Arizona, I do not know about other states. I know I have (6) figures on my vehicle that were done prior to the voluntary surrender because of a smart attorney friend who knows the ins and outs of AZ laws, so if it is sold at a low non commercially reasonable manner then I will have a defense. If it is sold in a commercially reasonable manner then, I have already been referred to a company that will handle a payment arrangement for me and I will not have to directly deal with unreasonable/threatening people.
Bart
Springfield,Missouri,
U.S.A.
No offense
#3Consumer Comment
Wed, December 26, 2007
but they are not going to sit on a vehicle and wait for it to sell at what you think it should be sold for. They will flat rate it out and require the balance from you. That's how repos work.
