July 08 Wachovia finds me creditworthy enough to loan me $18,000 for a used truck. I signed all necessary paperwork, including the one that said I must provide insurance.
Could not get cert. Of ins. To Wachovia on timely manner, so they slap on a $1000 policy to cover them. When I finally got the insurance straighten out they credited me $750. So I started paying an extra $50 a month towards this balance with my truck payment figuring that since they loaned me $18,000, $250 should not be a big deal.
Six months later (after $250 balance is paid-off) I get a letter from Home Depot informing me that my card has been cancelled by them for "negative info" on my credit report. After checking my report, sure enough, 5 months late truck payments on the report. I have NEVER been late with my truck payment! Call customer service 800 #, get the run around, etc. Along with "Well, you signed the contract".
Try to go to local branch: Sorry we don't handle stuff like that here. Try to make payment in local branch: Sorry we don't take payments here. What the $#%$%^? You're a BANK!!!
Reading the contract I can find nowhere where they can report a insurance premium as a late truck payment. Of course, this dropped my credit score to 602.
Wrote to CEO Thomas Wolfe, his office calls: "There is nothing we can do, that's just our policy". Any ideas on what to do next? Picket the branch with a sign reading "I got the shaft here" comes to mind.
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