I purchased in 1995 a Dodge Neon! This particular bank financed the loan AFTER they charged me at that time 18% intrest. I was assured that this banking institution does follow the laws of Louisiana and does business in a right manner. NOT!!!
I had the car for 6 months before the U joints went out in the car, the dealership didn't honor the warranty, and I had to pay for the repairs myself. (As this was the only means of transportaion I had!) I first made "arrangements" with the bank to make the intrest payment for that month, and the following month, make the regular payment and divide the principle of the month I had to forgo in order to have the car repaired.
Although I made the intrest payment to the bank, they STILL REPORTED me to the credit bureau as not paying at all, then when I tried to resolve this matter and have it straightend out, ONCE I FINALLY GOT THROUGH TO A REAL PERSON, I was rudely spoken to, and NOTHING was done.
I missed a payment three mos after this situation, then the next thing I know, with out notification, a sheriff's represenitive was at my door with reposession papers. I let the car go, and two mos later, I get a notice that I owed 16K on this car, and they sold it at auction (supposedly) for 2K. That's Bullshit!
Now you must realize that the TOTAL LOAN with intrest if paid in full at the end of the 60 mos term was 18K.
I paid notes and interest, and they didn't deduct it from my account. So now in the year of these ASSHOLES are still making inquiries on my credit and STILL damaging it. They report me as NOT paying them, when I don't even have the car, and haven't had it since 96..
Whoever regulates banking practices in Louisiana needs to be notified and an investigation into their business practices NEEDS to be commenced. I am wondering if I have grounds for a law suite at this point.
If you are offered financing for anything from this bank. REFUSE IMMEDIATELY!!! For your own protection!!
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