After reading all the reports I am astonish of how many people share the same feelings I do about this company. My story starts out as having filed a bankruptcy just before I bought this car. When I signed the contract I new that I was getting screwed with a 20% interest. I thought I had no choice at the time. I needed a car.
Well the first few years were rough and I had some four late payments not more than 30 days. Also when the car broke down I defered payment till the end so I could fix the car instead. I did that three times. The last couple years I have been doing better paying my bills on time. I havent paid Triad late for over two years.
I was feeling pretty good that my loan would be finished in Oct. (This counts the added on 3 defered payments). When I checked the pay off amount for the loan it had an extra $1200 added on to the loan. I called and tryed to get an explenation. When I did they told me that because I had late payments that they look more of the payments and put it more toward the interest of the loan. WOW!!! I thought I was getting screwed with the already high interest rate. Now they want more. I thought that if you have a fixed interest rate contract that they could only take the contracted interest and no more. As for the late payments they charged a late fee, and it was paid. That should be the end of it.
I was vulnerable at the beginning and got the high interest rate, but I think I am being ripped off in the end by them taking too much interest than they should be legally able to take.
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