Yes, you read that right... 10 days! Yesterday, the business manager from the dealership called me to inform me that Americredit had contacted them to deny my loan application, after approving it 10 days prior.
Now, I'll readily admit; we too were just happy to be approved after the dealership told us that Americredit was the ONLY company that would approve us. We recently completed a Chapter 13 bankruptcy (we paid our debt back in 5 years), and I thought now was the time that we would finally STOP being PUNISHED for being such horrible people to have had financial struggles and had to file bankruptcy. I hate it when people are so quick to judge one that has filed bankruptcy without knowing the circumstances that brought them to it... individuals or lenders.
While I am absolutely flabergasted at the fact that that Americredit told the dealership that I was approved, that the supposedly "legal and binding" contract that I signed is now no longer valid, not to mention that I drove off the lot with car and have had it for 10 freaking days; I must say that the business manager at the dealership has been very kind and patient and has even agreed to give me a few days to find alternative financing; and all the while allowing me to keep the new vehicle in my possession.
Americredit's reason for denying the loan was that they wanted proof that our bankruptcy case was "discharged." I provided the dealership (and bank) with a typed letter from the court that stated that our Chapter 13 was "complete" and the "court was satisfied." Now isn't that petty? But that's not all... At first, Americredit actually acused me of "fabricating" the letter. They came up with the wording preference excuse after I provided them with a full color print screen copy of our case summary (which also stated "complete").
I'm going to take this weekend to decide what my next steps will be. I'm seriously thinking about contacting an attorney as after reading all of the other complaints I am now even more convinced that Americredit isn't playing very nice and needs a little time out.
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