It is good to see someone is responding to these comments from consumers. I understand one of the big concerns is people who do make their payments on time. Well here is one for you to answer. I had my payments taken directly out of my paycheck bi weekly in the amount of 350.00 and I would send these out right away. My payment was for 621.96 and I was paying 700.00 a month minumum.
I started this payment method right away which would have put me one and a half payments ahead at all times.
We decided after being with Americredit for over two years we had established some kind of credit so we refinanced using a second mortgage on our home. It saved us a ton of interest considering I was paying 22% and went down to 6.5%. I had never once been late and never had to speak with these people about my loan other than calling and making sure they got my payments. We signed our closing papers on the 2nd of the month, payment was due on the first.
We were told by our financial institution we would be alright not making the payment because they would overnight the payment to them. Americredit recieved the funds on the 4th of the month (certified) and on the 17th of the same month at 4:30am someone was driving away with my truck. All this time however my certified check is sitting on someones desk.
I was devistated when I called the police department and found it had been repo'd. The next morning first thing I called Americredit to find out why they took a truck they didn't even own anymore. Amy said that they still had not recieved funds and so I was late. I followed with a call to my financial institution and told them what was going on. My credit union got ahold of their lawyers immediately and I had my truck the following business day. Tell me why Americredit was allowed to come and take a vehicle that they had already signed off title and given up rights to.
Then proceeded to make us pay repo fees before they would give my truck back.in my truck was all of my personal belongings and upon recieving my truck I was missing one laptop, tow strap, repo plate (by the way we do repo hauling to auctions), Cobra CB, one brief case (containing insurance transactions), and quarters, dimes, and nickles in different parts of my truck, and my purse. When I found all of these things missing I had to figure out on my own where this lady lived (in other words where my truck went first) and pay a visit to her to find out where my personal belonging were. I found her place of residence and also found my personal belongings in her opened pole barn. I did get the most of my things back but I still have a repo on my credit report and the damage of not wanting to ever trust a financial institution again.
To anyone considering Americredit please think twice and look around again to see what other options are available to you. You were right by saying Americredit extends credit to those who have had financial troubles, we had problems due to medical ONLY and I figured this would be a good way to establish credit. I figured I had proven my credit worthiness by paying early for almost two years, but by doing so I had payed off a good portion of my principal and I guess Americredit was looking to make a profit at auction because I owed less than what wholesale was. You tell me who is the crook in this situation. I feel I am the victim NOT Americredit.
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