Union Acceptance Corporation
Stonewalling Customers the Worst Ripoff Company I Have Ever Delt With

Auto Dealer Loan Company:

Due to a divorce 2 years ago I was ordered by the courts to make payments to Union Acceptance Corporation who is the lender for my ex wifes 1993 Jeep Grand Cherokee. The minimum payment for this loan is $395.00 a month.

I have the vehicle in my possesion and have been using it fo the past year now.

My current fiance has lost her job and we can no longer afford to make the payments on the vehicle. I decided to contact UAC and ask how much the payoff was so that I could trade the vehicle in.

I found that the amount owed on the vehicle was $ 13,000.00! My ex had purchased the vehicle for $ 15,000.00 in 1999. I spoke to a rep. At UAC and she stated to me that if I could get a dealership to offer between $8,000.00 to $9,000.00 for the
vehicle at trade they would release the title and work out payments at a lesser 4 amount for the remainder of the loan.

I asked why the interest was so high? And she stated that it wa simple interest! I said that this was not simple interest and that it sounded more like a compound interest. She had no reply. I found that it was useless to argue the point.

I went to a local dealer and explained my delima and they said that they could only offer the maximum amount of $7,500.00 for the vehicle. We contacted UAC from the dealer per UAC's instructions and we were told that they would not accept any amount but the actual payoff amount.

I explained to the rep. My conversation I had with his coworker and was told that they could not help me and that the only way they would settle on a lesser amount to release the title was if I was to get an offer from an independent buyer off the street.

I asked the rep. What was the difference if it was a dealer or a private party asking to buy the vehicle? He saidhe did not know. He went on to say that that is just what his supervisor
told him. I asked to speak with the supervisor and was denied access. He did finally give me the first name only of the supervisor. I felt as if I was dealing with the CIA due to the secrecy and stonewalling. I will try and speak with the VP asap if they give me his phone #.

This is deffinetly the worst company i have ever delt with when it comes to customer service. I can not figure out how to speak to a "Buck Stops Here Person" please help.

Greg
Kittredge, Colorado

Company: Union Acceptance Corporation
Country: USA
State: Indiana
City: Indianapolis
Address: P.O. Box 2407
Phone: 8002847869

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