How long does a finance company (Drive Financial) have to pay a refund of an overpayment of car refinance (CitiFinancial). Citi was quoted a payoff of $14,200 on actual bal of $13.700 on and paid the Drive loan off on November 7th. 2007. Numerous calls to Drive customer service, received nothing but lies, ck in process, in mail, etc. Cannot use account# on auto answer because account is paid off. Account number is invalid. You have to wait long, long time to get a reall person. Couple days before the first payment due to Citi on December 5th, I called Drive to ask where was refund. An hour later, I am told they are waiting for Citi payoff check to clear. Monday Dec 11, customer service confirmed $583 refund processed and check in mail 12/8. Yesterday, 12/13, called again and got an abusive supervisor, I was told overpayment should go back to Citi, maybe pay me, maybe not, you're a subprime borrower you don't have rights and other really bad stuff, finally told don't call back until 23rd (happens to be a Sunday), 45 days after payoff, then Drive will see.
I am betting this is tactic Drive uses all the time to hold on to repaid loan funds by overstating refund amount and then keeping money.
I live in Tennessee, our Dept of Finance/Banks informed me that TN State law classifies Drive as a purchases of Retail Installment paper and except from Tn State rules/regs etc.
This makes it Drive look even more evil - they can do this all over with impunity.
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