I had a loan with this company, I purchased a 2005 Honda, and the vehicle was not even a year old when my wife was in an accident with it. The insurance company totaled the vehicle. When I took out the loan, RoadLoans added GAP insurance. Well according to Roadloans website, Gap insurance is to provide coverage in the event that your vehicle is totaled and the vehicle insurance doesn't cover the whole amount. According to the website, Roadloans GAP insurance "goes one step further to provide the extra protection that can help you and your family save money and reduce your risk" it even states that it provides "Deductible coverage - Pays you up to $1000.00 in addition to the deficiency"...
Now we get to the complaint. Roadloans has called me and stated that there is a balance on the loan, I am required to pay that balance and the GAP insurance doesn't cover the entire loan. Well hello people according to their own website the GAP insurance DOES cover that amount. They have gone as far as report me for not paying to the credit bureau and have called a few times demanding payment. I have told them I am not responsible for payment since I had GAP insurance. Roadloans in their PDF file explaining the GAP insurance in bold letters states "Protection you can count on" Well either they didn't read that, are not familiar with there own programs, or just plain ignore that and still try to get people to pay debts that are not their responsibility any longer.
I have read allot of comments from people on this site, so this should come as no surprise to anyone. Now the battle to get my credit cleared from this company (that should be interesting) and to file a report with the Pennsylvania Attorney General's office. If Angie reads this and would like to include me in the suit, I am game for that route also.
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