We purchased a truck in March and we went through Wachovia Dealer Financial Services for financing. The first problem in a long list of issues with this company was that they sent the payment coupon book to an address we had moved from 4 years prior. Our current address was on the loan application papers so it wasn't rocket science to figure out where to send the booklet.
The first couple of payments posted without a problem. We mailed them and within 3-5 business days the payment was credited. That didn't last long.By June our payments were posting later and later and in November they didn't post our payment at all. We ended up having to cancel the check and make a payment over the phone. We wound up with $38 ($30 check fee and $8 to make a payment to Wachovie over the phone) in extra charges to make our truck payment.
After the above incident we began mailing our payments Priority with delivery confirmations so there would be no dispute that we mailed it and that they received our payments. The payments were getting there within two to three days but it was still taking them forever to post them. When we would call, they would feed us a bunch of lies about how they post the payments the day they get them. HELLO, we know better, we have proof that the payments were delivered in your box well before you posted the payments.
On July 12th I mailed a payment. It was delivered on the 14th. The payment isn't due until the 18th and there's a 10-day grace period before they charge a late fee. Twelve business days is more than enough time for them to get their act together and post my payment. As of July 28th they claim they still have not gotten the payment. Yet again, they're threatening us with a late fee and blemishes on our credit report, for their error. Once again, I've had to cancel the check. Another $30 check charge! This is insane!
Avoid dealing with the atlanta branch of wachovia dealer financial services!
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