I took out a small 6000 dollar loan for a RV I bought in 2005.in 2006 I got laid off and when my unemployment ran out I missed some payments. Nothing ever past 90 days only 30 days here and there. I was laid off, I did the best I could.
I called the bank and told them of my current status and they were very helpful as were all my other loan holders including GMAC, HFC, and Chase. They all told me to keep in touch and let them all know what was going on. Which I did religously.
I got a new job in the fall of 2007 and started making payments and in Feb. Of 2008 I paid the loan off two years early.
I receive a letter in the mail stating the mercantile was taking me to court because of the missing payments even though I paid them and the late fees plus I paid the loan off two years early.
Once in court I tell my story to the judge and he rules in my favor. I won—the judge asked the lawyer why Mercantile would waste money taking me to court for such a small loan—he speaks but says nothing. The greedy lawyer working for Mercantile, Curtis Rypma, appeals and wins.
Why was Mercantile the only lender to do this to me? A RV which cost me 6000 dolllars now cost me another 3600 in court cost.
I think there is a lot of corruption on Mercantile's part and the lawyers part in this scam. They used the contract out of context to to receive easy money, money they strongarmed from me.
None of the other lenders did this to me, only Mercantile.
Avoid Mercantile Banks at all cost.
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