Those wishing to use non tradtional financing and non tradtional banking institions to finance purchase be wary and afraid you are better off to borrow from family or freinds! I was unable to do that so I opted for this solution boy what a mistake!
At the time the loan was taken out the company was called transcanada credit it wa the purchasedby wells fargo bank
do all you can to stay away from Wells Fargo Bank you willbe better off believe me!
A few years ago in nov I needed to finance my vehicle I did so believing I would be able to pay off the loan I did have a reasonable income at the time so it was possible in my mind.
I however had to have co-signer that was all arranged I got the loan, however just in case anything happened to me I decided to add insurance to my loan I am glad I did! As diagnosed with a autoimmune disease called fybromyalgia in aug 19 and was unable to work for the alst few years I the insurance kicked in 30 days later I was 2 payments behind as it was when I did get sick but now I was also expected to come up with the next 30 days I was offered a solution by the branch manager at that time who is now their area manager he called it an extention of the loan I agreed not really informing me that was mearly refinacing the loan!
That is where the ripoff starts up here is the rest, up until I got sick I paid $1400.00 on the loan then the insurance paid out $4526.64 for a garnd total of $5926.64 on a $3000.00 loan now they tell me they want an addtional $1165.75 that amount of interest adds up to 140% wow loan sharks dont even charge that kind of interest! To top it all of I had to pay to get my medical forms filled out by my doctor every three months there is a additional $180.00 in payouts every time!
I am thinking of just letting them take this to small claims court and defending my self and having my day in courtbecause this is just interest upon iterest upon interest and its beyon loan sharking and usery!
Yours Truly
Alan
Edmonton, Alberta
Canada
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