After having files bankruptcy a few years ago, purchasing a vechicle became very difficult. However I was approved for a loan through Drive Financial. I was required to give a rather large down pymt (understandable with my credit) and proof of income.
A year after purchasing the vechicle I contacted Drive to make them aware of an employment change. Although I technicaly still held the same job. I was out on workers comp., and although I had disability insurance for such an occurance this did not help. They called daily, two and three times. They called my relatives and friends.
When I did make contact they would act like all was well and they would make arrangements. But, to my surprise they had gone to my next door neighbor and asked for his assistance in reposessing my car. They told my neighbor that they would pay him $200.00 if he would call them when the car was parked at home. My neighbor did no such thing.
At this point I voluntarily took the car back to the dealership and gave them the keys. After the vechicle was sold I was sent a letter stating I owed them a balance of less the 4,000 dollars. Today on my credit report I owe $14000.00. More than the original price of the car.
I contacted them and asked how they came up with this figure. Again I was told of the unpaid balance under $4000.00. I said how does that turn into $4000.00. They said that the collection agency they do business with adds the interest to the balance.
I can't get the collection agency to respond to my calls or letters. (Regional Adjustment Bureau) But they do continue to add this to my credit report monthly. I'll never get another car loan with this on my credit report.
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