Tired Of Hearing Complaints About Vanderbilt
LA,#2Consumer Comment
Wed, July 01, 2009
The payment issues that you have had are unfortunate but Vanderbilt is no different than any other lender in that regard. They have to collect on any delinquent loan. And yes, collections by its nature is nasty. But, the fair debt collections act only allows one call per day on a collections account UNLESS you do not answer your phone. In that case the company can make one more attempt to reach you within that day. The three or four calls a day claim might be a slight exaggeration on your part due to mere frustration over your financial situation, and that's understandable. However, the structural problems that you have encountered with your home "at the point of purchase" (i.e. your cabinets) are with the manufacturer, not Vanderbilt. Vanderbilt is just the lender. Case in point, if I loan you money to buy a car, I am not responsible for the mechanical upkeep of the car because I loaned you the money. That is up to you and the dealer. Any issues after the manufacturers home warranty expires fall on the shoulders of the insurance company that insures your home. That is why mortgage companies require insurance on the home in an amount greater than or equal to the financed amount of the home while the home is still mortgaged. The consumer must have insurance and the mortgage company requires that in order to protect their assets in case of damage to the structure after the one year manufacturers warranty expires. Warm Wishes, Happy Consumer