I financed a car from Credit Acceptance in 1998 and put $500.00 down. The car was $6,410.46. I paid around $3,000, plus full coverage insurance payments of $230.00. I lost my job, and in the night they took the car, repossessed it, and sold it for $1,000 at an auction. On my credit report they said I owe $3,410.00. I tried to call them to make arrangements to start paying on that amount and was told I couldn't pay $50.00 a month, as that was all I could afford. At least I tried to make an effort to start paying on the car, and I was told that I now owe $6,410.46 because of interest. I didn't think they could add more money unless they took me to court or had a judgment put on me, but this is not the case. I never heard anything more from these people until I called trying to make arrangements to work on paying this bill so they would take it off of my credit record.
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