Cresent Bank And Trust
Ripoff. Was givin no choice but to deal with them

I am trying to improve my credit. I bought a car locally with a very high intrest rate... 25%. The dealership got me approved through a local company, and after speaking with them, I was told that after making all payments on time for a year, that I could refinance at a lower intrest rate, and a lower monthly payment.

Six months into the loan they transfered my contract to Cresent Bank and Trust. After one year I contacted said company to inquire about refinancing. I was informed they dont do that! I asked if I could defer a payment. Once again I was told no.

My question is. As a consumer do you have any control over who your loan gets "farmed" out to? Secondly, does anyone know if Cresent Bank is even reporting to the credit bureaus? I tried to get refinanced, and also have one of those watchdogs on my credit report... But my credit rating number has not changed at all. I was right at a 550 beacon score before I became involved with these people, and one year later I am still there. One would think that after making payments on time for a year, there would be some sort of improvment to my credit score! Improving my credit was how I justified the high intrest rate!

I love my car, but can no longer afford the $447 monthly note. If they would consider refinancing that would be great. But, based on my experience with these people, and everyone elses reports, it doesnt look promising. If they are reporting to the credit bureau then why shouldnt I just file bankrupcy, and keep the car I love. A bankrupcy or a repo will both be on my credit for the same amount of time! If anyone has any comments or suggestions, please let me know. I will be more than happy to participate in any action against this company. Hope to hear from someone soon

Company: Cresent Bank And Trust
Country: USA
State: Louisiana
City: BATON ROUGE
Address: PO BOX 98511
Phone: 8002644381

  <     >