After buying a car at a "tent sale" (my credit was not great), the original finance company sold my loan after 2 years. Since I obtained a 5 yr loan, that company also sold my loan to Regional Acceptance Corp. When I only had two months of payments left.
Fortunately, I checked my account online and found that Regional was trying to charge me an extra $3,200 for fees they claimed were for "late payments". They claimed that, even if I had been late for a few days several times over 5 yrs and paid late fees, that there were finance charges due as well, which were not in my contract.
After calling "customer no-service" many times I was informed that I should read my contract and that I would not get my ownership papers until I did.By this time I had made my last payment. After looking up all the corporate officers, including the CEO, on their website, I obtained an online attorney, whose name I included in certified letters to the corporate staff.
One by one the letters were returned to me, certified, after having been opened (I did not know you could do that!). Since they were convinced I would not stand still for this and was ready to sue, their legal counsel sent me a letter telling me the amount was actually $4,360.89. Remember, I had already paid $18,000 for a $9,000 car!
In his letter he finally recognized that since I had made five yrs of payments they were "willing to write off the remaining balance and provide title" to me.in each letter I cc: all the officers and my attorney. I'm sure that is what made the difference.
I have received my title, so don't give up, get creative, and DON'T let them intimidate you. Let them, whoever they are, know you are a force to contend with and will do whatever it takes!
0 comments