Lacy
Carson City,#2Consumer Comment
Mon, July 27, 2009
Peak5/flatiron took over loans from centrix financial in 2006 but never obtained titles from them and now they too have gone out of business without notifying any of us and now unknown debt collectors are calling people from blocked numbers requesting money over the phone from consumers. I personally talked to a woman from aps finance another company that assumed some of the loans from peak5 and she admitted over the phone that they only have titles that originated from peak5 not centrix!!! so now people are getting cars repossessed because they traded in a car that the dealership cannot obtain a title to. Apparently this woman did not realize that she admitted that her company is a fraud too!!! they cannot legally collect on a car note if they do not have the title to the vehicle. APS is collecting on car loans that originated in2004-2005 from centrix financial but peak5 never obtained title of those vehicles so now people are getting taken for a ride. Example: you just traded in a vehicle that had a pay off amount of $2500 and an interest rate of 23% the dealership sends off a check to pay off the company and get title, peak5 closes its doors without warning, the name on the title owner with dmv is centrix, the check comes back! now the car has no title, and the dealership is stuck with a vehicle that has no title and a new company floating around taking their sweet time letting interest accrue on the payoff amount to screw you! Now your dealership is mad, and they are threatening you with a repossession because you traded in a vehicle that they are having to pay extra on and cannot get the title. We need to start a class action lawsuit!!!! this company is a sham and should be punished for unlawful debt collection practices
Where
Crofton,#3Author of original report
Sun, September 14, 2008
We need a forum where we the consumers can gather and unite to gain strength to shut this shister down. Any ideas?