First of all, after reading all of the complaints I've read about this company, it leads me to the question of how this company can still be in business, or at the minimum. Hasn't yet been sued through class-action. It's stunning to find so many reported incidences of this company on this web-site alone, and makes me wonder how many other stories are out there that haven't been told yet. I too, have a horrifying incident similar to those already told.
I had purchased my 2002 Chevy Impala through a well-known and reputable dealership in my neighborhood in February... I couldn't be happier with the courtesy and respect they had given me through the purchasing process. I was amazed how quickly they were able to place me in the vehicle despite problems with my credit resulting from a divorce just two years prior. After several submissions, a creditor picked up my loan for processing... Which leads me to my dealings with AmeriCredit.
Unfortunately, due to my credit, I was taking on financial responsibility on a high-interest car loan, which I respectfully accepted given the situation... Beggars can't be choosers, however, the events to come were incidents that shouldn't have come to be... The loan process was lengthy-a bunch of paperwork filling out addresses, phone numbers, work contacts, and referrals, ten to be exact, along with addresses and phone numbers to reach them-something I hadn't encountered before, since I had perfect credit before the divorce... I thought it was strange, but probably necessary-since I was "high-risk" now. Papers signed, keys in hand and driving the vehicle for about a month, I knew I had a payment coming due, but hadn't received any correspondence, phone call or mailing addressing who my lender was and where I was suppose to send payment... After contacting my dealership I was given the information of AmeriCredit and made a phone call immediately after.
I found out that my payment was at that time four days past due, but I was still within my grace period. I explained that I had not known any of the pertinent information required to submit payment and verified all information they had on file. I was told - to avoid a late fee - that I would need to make my payment over the phone so it would post to my account before the grace period would end. Gladly I made my payment, verified all my current contact information and requested a duplicate billing be sent to me as well as confirmation of the payment I just made. As a precaution, I was given a billing address in Arlington, Texas to send my payment to as well as an 800# and account loan number to place on my checks. For four months I have gone without receiving a single statement from this company... None of the less, sending the full payment in the form of a cashier check - written by my bank - each month by the second.
I requested updates on my account each time payment was made through written confirmation of my home address and phone number. Still, receiving nothing. Coming out of work a week 1/2 ago, I was shocked to see that my car was gone... The first thought in my head was someone stole my car... After a police report was filed, and hours later, I was told that it had been repossessed by AmeriCredit and the company failed to report the pick-up through the police precinct. After speaking with family I had learned that the contact for AmeriCredit had been calling the referrals I originally placed in my loan application and verified contact information for me and deceitfully explained that they were approving a loan and needed verification from them to process it. This man who knew and verified my information, knowingly and purposely failed to contact me to notify me of any problem with my account.
It turns out, after four months of delivery of my vehicle, and four months of payments, with a double payment made in August, that AmeriCredit, had not even one payment posted on my account since the original phone payment I made! Furious, I asked why I had not been contacted in reference to the account, and they claimed they had tried reaching me for months - later to find on a number that wasn't even mine.in fact - it traced back to someone's cell phone that was disconnected. I explained to them that they made a huge mistake by taking the car when I had proof that payments have been made. The rep (who is Canada) said that basically it wasn't his problem and accused me of failing to send in payment. The issue of failing to contact me when they had my information from my original loan application and after he spoke to close friends and family, was side-swept and ignored with arrogance.
I was given the option to reinstate my loan - pay off the car - which included a gross amount for towing, repo charges and two months payments as good faith payment... Or submit receipt of my cashier checks... Immediately I sent by fax a copy of the most recent cashier check I had on hand. Equivalent to two payments, they still refused to address the issue that outstanding money was out there that hadn't been posted. The argument was that somehow it was my fault that it didn't post to the account. A missing account number, wrong address, or something, and in that case - it's my fault.interesting enough three days after I faxed my confirmation, the amount of $1,160.00 was posted to my account. I again, at this time requested the release of my car and stated that if it was not going to be released that they had better keep it on hold until I was able to produce copies of cashier checks my bank was pulling for me. I was told by the representative and his supervising manager that Ohio law gives me twenty days, and nothing would be done to my car in the meanwhile. They would plae a hold on the car for confirmation.
My bank produced my checks to me no later than one week after the repossession and I immediately faxed over the information required to post my payments accordingly - I have left a total of seven messages - one everyday addressing the payments and confirmations I have showing the transmissions have gone through. I have yet to be called in reference to the matter. Each time I call, I get placed on hold for over an half hour, sometimes longer, never to be spoken to - and others I'm told the individuals are not in, on the other line, or busy - left to be put through to voicemail. It was apparent to me that they have and had no intention of posting my payments and accepting responsibility for their actions... They posted back just enough money to lower the balance they would have after the car is auctioned. It wouldn't surprise me if AmeriCredit is scrambling with their legal department on this one, fear of what action I would take if I were telling them the truth and they did repo a car they had no business taking.
I'm a strong enough person to realize that my loss is just a car, it's replaceable, and I will gain my credit back to it's original good standing in time. It just sickens me that a company that hasn't been in business more than a decade is leaving such a bad taste in so many customer's mouths, ruining people's credit profiles, and inconveniencing so many people with their blatant, irresponsible and undesired business practices.
An interesting thing occurred after I had noticed my car had been moved from the impound lot - to the auction yard... I received my first statement... And in it - they had a written congratulations to several individuals for winning a sweepstakes they apparently hold every month... It made me wonder where the hell they have the money to be handing hundreds and thousands of dollars out to so many people, and if my payments - that hadn't been applied - were part of a pool of money used for these prizes... One wonders.
Chris
Greentown, Ohio
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