I financed a vehicle through this company when I fell upon hard times and could not get a conventional loan. The original amount financed was $2500. Payments of $257 for 18 months. Very high. However, I got a good job and began in earnest to pay off this debt. I had a draft from my checking account of $300 each month. I paid a payment of $1500.in Dec 05. I then paid $300 each month until March 1, when I called for payoff. I was quoted $898 and some cents. I wanted to give my debit card but they would not allow me to do it that way. They informed me that I would have to mail the check or send it via Western Union.
I sent a check for $1000 to make sure that would cover it and figured they would refund any difference. On March 10, I stopped the auto draft from my checking account because I had paid the loan off with the check for $1000. On March 17, I called the pay off dept to make sure the received my check and all was clear. I was informed by Ramon Ramirez that they had recieved my check and there was no balance. I asked when I would receive my title and he said in about 10 days. I asked him to fax over a copy of it so I would have it on file. He did fax that to me. I waited 15 days and got no title.
On April 25, I received a check in the mail for $291.66 for overpayment. I cashed the check and then the bank told me they had stopped payment on it. This is when trouble began and no one can seem to understand or help me. They tell me that I owe $300 for the payment that I stopped after my loan was paid off. Well, the payment had never been $300. It was $257. I paid March's payment when I paid the vehicle off with the final check for $1000. This is the amount I was quoted and it should have included the amount due for March. The payment wasn't due until the 20th of the month and I paid this off March 2. I had paid the Feb payment. The last thing I was told by a person named Mary was that there was an underpayment of $6.00 when I paid off my loan.
When I stopped the payment they consider this to be non sufficient funds in which fees and interest accrues. This would have ballooned up to $300 from March 10th to March 17. However, they are will to negotiate a final payment of $162.50. I refuse to pay another cent because I paid what I was told on March 1. Mary states that the stop payment occurred prior to the pay off. This is sheer idiocy. If I was sent a copy of my title on March 17, they obviously had my check and cashed it before that date. They state the stop payment was on March 13 and check for $1000 was received on March 16. The two have nothing to do with one another. I never owed the $300 to begin with. It was paid off on March 2. This company refuses to release my title until I pay $162.50 but I am receiving bills for $300 and then one for $280. I have even been called for collection at work for $301.
This company needs help with their accounting practices. They need to send me my title so I can get rid of the piece of crap that will hardly run at this point. From a $2500 loan, I have paid $7230. I know I agreed to the contract but to do this when I intend to pay it off for what they claim is $6.00 is ridiculous.
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