I have been financing my car with credit acceptance for 2.5 yrs now. I lost my job sometime in 2008 due to a work injury. For a while i was able to keep up with my monthly payments until i started to loose my monthly income from disability. I feel behind 3 monthly payments and was late on a few extra. Yet and still I continued to make my payments. When I was able to finally catch up on the payments I contacted CAC to find out what my balance was. I was told that my balance was $1065, and i was told in order to secure my vehicle I would need to send in $450 (which I did). A few weeks later I was notified that I needed to send in an additional $300 plus the monthly amount to be paid so total i had to send $570 which I did not have. So I sat up a payment arrangement for the remaining past due of $615. I was to send in my regular car note payment plus and extra $50 which total $320 a month/160 every 2weeks. I stuck to the arrangements as followed for about 2months until I received a call on month stating that my money order had not been received by the due date. I explained to the rep that it was mailed and that they should be receiving it within a couple of days. 5 days later I called to verify that the money order was posted to my account. When the rep got on the line she told me that my new current past due balance was now $1065. I was furious. I stated to her how was this possible when I've been making all of my payment arrangements on time, and not only that I had just sent in $450 months prior. The rep was rude and started to ask me personal questions about my life and living situation that was none of her business. So i GLADLY expressed that i would not be sending in another payment until this account is corrected and that I don't have money to throw away because I am on a fixed income. I asked to speak with her supervisor to report her and she laughed and stated " I am the sup for this department" I said to her well I need to speak with you boss. She then stated " I run everything here and our bosses don't speak with customers" at this point I was even more furious! I hung up on her.
I called back the next morning. I then got another rep on the phone he was a really nice guy. I explained everything to him and he proceeded to tell me that " as long as you send in something every month there is nothing that our company can do but call you and try to get the remaining balance" He set me up on another arrangement for 3months which i had stuck too. One day I decided to call CAC to find out the balance on my account. I was told that my balance was $1572 and that i couldnt get any arrangements unless I sent in $800. I was livid! I argued with the rep for 30min until finally i hung up on her and called back. I then got someone else on the phone, and she sat me up with another arrangement, but yet and still nobody could explain to me how my balance managed to shoot back up to $1500. So i just went ahead and agreed to pay it because I was tired of arguing with these ppl about this car. I have since been making my payments on time.
Since then my balance went down to $1150, then up to $1275 then back down to $1150 and now back up to $1320. I received my credit report in the mail and noticed that CAC reports my [payments every month to Exprian. My report shows that I am behind $842, but yet CAC is telling me $1320. I have been calling CAC for 2weeks now trying to find out why are they telling me 1 amount but is reporting another. I was told because of my late fee and the finance charge. I said ok but it still didnt sound correct to me so i contacted a friend of mines which is an SR. Accountant. I had her look at the payments reported to Experian, to figure out if the calculations I got were correct or incorrect. She got the exact amount that I got. She did the calculations 5 times with my late fee and the finance charge, she even attempted to raise the late fee from 22% to 25% and she stated "Even with the finance charge raised to 25% your past due balance is not $1320. I called CAC and told them to explain this to me. Nobody has the authority or our calucltions are worng and theirs are correct.
Right now I am soooooooooooooo upset i don't know what to do. I don't want to turn the car in because I don't want the repo on my credit, but I don't feel comfortable sending in anymore money to this company because they are not posting my payments and I am being over charged. I have also ask for payment history which I have not recieved because they are claiming that they don't have my correct address (I bet if they want to come repo the car they would find me). Im totally confused and don't know what to do. So hopefully someone could lead me in the right direction on what I should do about this company and my balance.
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