I went to this finance company because I needed money faster than I could receive it from my bank or credit union. First mistake. I initially called and inquired about a loan for 5,000.00, they told me that I wasnt approved for that much but would give me a loan for 3,000.00 with my automobile as collateral. My automobile being a vehicle worth 3 times the amount that they approved me for. I asked about the interest rate and they quoted over 20% interest. I told them that I would pass on it, and they told me that they would report it on my credit report as a denial for credit, which at the time I really didnt think about the fact that they couldnt really do that, or if they did I could fight it.
These places prey on people that are hard on their luck, and have no other place to turn. Unfortunately, I was in the process of buying a new home, and didn't want anything nasty to appear before it was all finalized. When we signed the papers there was paperwork for different insurances, which we told them right away that we was not interested in. But guess what, it was added anyhow.
Finally after receiving checks for the amount reimbursed back, but of course not the added interest that it caused. The company also received over 700.00 just for sealing the deal. Also, the other problem that I encountered with them is about my full coverage insurance that I carried on my automobile.
They put full coverage on my automobile and charged my account for it, when I finally realized this, I called my insurance carrier, and made sure that I hadnt let my insurance lapse. Of course I hadnt, I have been a steady customer with my auto insurance carrier for about 4 yrs without a lapse. So, I wrote a letter to Justin Collins the brance manager at American General Finance telling him once again that I did have insurance and to please quit charging me for it.
I also informed him that this was illegal to have multiple policies on one automobile. I also asked for my balance and a breakdown of all charges on my account, and for him to stop coming to my home. After all I have 3 young children that didn't need him harassing their mother.
I immediately paid the loan in full after receiving the letter showing charges. I called when the check cleared to find out about gettting my title back. He told me that they hold it for a time period to make sure that my check clears.
After 2 and a half months and not getting my title I went above his head, and immmediately got my title. It seems Justin went on vacation and "forgot" about it. How convenient. But the other associate that I dealt with, Crystal Sharp, obviously she wasnt on vacation and he didnt feel confident enough in her abilities to let her handle the situation. We only had this loan for less than 5 months, and it was nothing but problematic from the get go.
After the incompetent manager came to my house every day for two weeks about 3 to four times a day, and left nasty threatening notes on my car windows and in my house door, I stopped dealing with them and got the money to pay them in full. My best advice to anyone thinking about dealing them. Think again.
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