Complaint Review: United Acceptance Inc. - Smyrna Georgia

Believe it or not I am on your side, and while I won't speak for the other poster I believe they are as well.

The fact is that regardless of how you think things should be, that doesn't always make it so. So even though you call it "attorney speak", it is an attorney that you need to talk to ASAP. As they will give you specific advice for your specific situation.  Just don't be surprised if you hear basically the same thing from them.  

But in reading your posts and updates it seems as if there is a LOT more not being said.  As we find out that this "lien release"  you talk about in your original post was one you forced the dealer to sign.  Your reasoning...he never transfered the lien with the loan.  On that I will just say that is HIGHLY unlikley as a Sub-Prime lender is going to take on the responsibility of a loan without some protection(i.e. the title).  

I will also say that there is one more odd part of your statement.  They are reminding you of a payment due in October...that is two months away.  Which generally means that you have paid ahead a certain amount.  Based on that the dealer may have actually sent them a payment but not enough to pay off the balance.  Have you actually ever talked to UA about the balance due and what has been sent to them by the dealer?   

Please be advised:  THE DEALER DID NOT ASSIGN THE TITLE TO THE COMPANY THAT BOUGHT THE LOAN.  It was kept in the dealers name as the lien holder.  IF this goes to court, I will make certain he fets hung out to dry as he is committing fraud.  I don't know how the laws in YOUR state work, but every state is different.  I reviewed the "contract" (generic form, NO MENTION OF SELLING OR REASSIGNING the loan),  

We will see how this plays out.  Not looking good for the dealer.  Arizona takes a very dim view of fraud.  

BUT I refuse to pay the finance company since I have receipts. 

I rrealize loans get sold EVERY DAY.  I paid the loan in full on June 30th at the dealer.  I asked about getting the title and was told due to 4th of Jult holiday it would be around the 15th as Arizona DMV keeps the title instead of the lien holder.  NOT TRUE.

I contacted the DMV and was advised that the lien release was not issued, and the DEALER or lrin holder holds the title.  I went to the dealer several times and always got aom excuse (hence the hemming and hawing).  I finally went to the DMV and obtained the form for the title release and took it to the dealer who grudgingly took it to be notarized and I promptly went to the DMV to obtain my title.

So what you are telling me is that because the DEALER knowingly defrauded the finance company that he took funds from and I have signed receipts showing the loan paid in full I am STILL responsible to the finance comapny?   I think not.  As I said I filed a comlaint with the Attorney General's office, the DMV dealer licensing office and BBB.  

I WILL persue this fully.  There is NO WAY I will accept responsibility for the dealer commiting fraud and will avail myself of any and all legal means neccessary. 

First off loans are sold/transfered every day, there is nothing illegal or inappropriate about that and I am sure you description of how the dealer "hemmed and hawed" is more in your mind than reality. In fact this is a standard clause in a loan agreement and I can just about guarantee you it was in your loan...and YOU agreed to it when you signed the documents.

As for the payments, the reality is that while the vehicle is used as security it is independent of the loan. That is even if you didn't have the car you would still owe the loan. So even if you do have a lien release if there is still a balance it doesn't take away the fact that you owe it, it just means they can no longer repo the car if you fail to pay.

However, there is somthing fishy going on here if we are to take your account at face value.  If you paid the dealer and there was an agreement that he would forward the payments to the loan company and he did not your action is against the dealer.

You would most likely need to file a suit against him in court at a minimum. Depending on the exact circumstances where he intentionally kept the money a complaint to the state and possible criminal charges may be filed.

But in the end..if the new company has not recieved the payment, YOU still owe them the money.

As for the lien release, if it is from the dealer it is worthless as the one who now has the legal right is UA. As part of the transfer the dealer must release the lien, but then it gets transfered to the new company.

Good Luck

Sounds like the BHPH dealer sold your loan to United Acceptance. When a vendor sells the loan the factoring company they sell to pays a discounted value for that loan. When you paid the dealer, he should have forwarded the funds to United Acceptance in accordance with the purchase and sale contract the dealer signed with the funding company, United Acceptance.

From your description here, the dealer has collected twice on this loan in direct violation of his factoring contract.

Contact an attorney to protect your interests, you may have to sue the dealer that you paid.