I recently purchased a car that was financed through Mullen Financial. I am currently shopping for auto insurance and Mullen has force placed insurance on my policy. I understand that is completely legal but what I dont understand is how they can force my monthly payment to go up.
The agreed monthly payment on the contract is $180.00. Now my monthly payment is $250.00. I asked them that if I continued to make my monthly payment of $180.00 in a timely matter (which i have) what will happen? They told me that my account will not be up-to-date and will be past due unless i paid the new montly payment of $250.00.
I understand that the insurance will be on the account and is considered a fee which will result in you not receiving the pink title at the end of the loan if the fees are unpaid, but for them to tell me that my account will be past due and will aquire a late charge regardless if I pay the original agreed payment of $180.00 is absurd!!! Is this Legal??? Please help.
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