When you are young you do stupid things I guess. I was 23.
Out of good faith, I put a 5 bedroom doublewide trailer in my name for a friend on the conditions that she would keep up the payments. The trailer was already repoed but was sold for $60,000. Unfortunately, my friend didn't keep up with the payments.
Greenspoint credit kept calling me and saying that her payments were behind. I even paid one payment to get her caught up and she still fell behind. To put it behind me, I decided to send the trailer back. The trailer was repoed and everything seemed fine. Well this happend in 2001.in two years later, Greenspoint Credit called me and stated that I still needed to pay to closing costs on the trailer since it was repoed or it would be on my credit.
It was also told to me that it would be a settlement and I would owe nothing else. I agreed to pay $3500.00 and have everything taken care of. I borrowed the money from my parents and thought that would finally be the end of it. Nope!!!
Now, in the I.R.S. States that I owe $10,000 for the closing costs on the repoed trailer and for not reporting it. I talked to my tax lady and she said that they can do that. Greenspoint Credit representatives told me nothing about this. Had I known this from the start I could have kept the trailer & rented it out, not paid the supposed settlement agreement, or even reported it to the I.R.S.
Greenspoint credit has ruined my financial stability and credit. Had I known all of this, I would have never chose them as a finance company. They are the biggest bunch of liars and schemers in this business. When I called about my account, they didn't want to give me any info. I will never do business with the same name or affiliation with Greenspoint Credit. Please beware and be careful in the future. Take a lesson from me, now 28 with bad credit and financial worries for the future.
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