I bought a two year old truck in 2001 at 17.9% intrest I barrowed $20,000 do the math payed alot more for it, I was late a couple of times 7 to be exact right off the bat, I decided to make things right so I called Americredit up and asked what I owed them $64.09 I asked is that it, they said yes, no other charges, no 4 1/2 years later 1 payment left I got a letter you owe $1079. Due in 2 weeks (payment $465.38 fee $614.00) what did I miss all payments on time and no late fees I haven't been late since 2002. Here what it was is that when I was late 1,2, 3or 30 days late for each day I was late in 2002 there was a certian % of intrest per day that was charged, this fee was on the side or behind the loan never shown on any paper work never shown to the comsumer (me) they just sent me an payment record not on there. So this was already in progress when I asked them what I needed to pay on 5/10/02 they said $64.09 so they didn't tell me about the exta fee, I found out today 8/15/07 that the only way to pay that fee was to pay the whole intrest at that time it was $10,000-$15,000. Now I'm not that smart but how in the world is that legal, if the consumer knows he messed up and wants to fix it how can they hold that back from the customer and keep tacking intrest on for another 4 1/2 years? Someone please help me and everyone else that is in the same boat as me this is bull - . Thank You
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