I have been a consumer of Americredit since June. There was an alleged late payment made the first month of my loan. I tried and tried to call to get that reversed, to no avail. They told me that it was processed after the due date, but they received it 7 days before it was due. Then they proceeded to charge me late fees every month following for almost six months.
Each month, pulling a little of my payment from the total car payment of the current month to pay for the previous months "overdue payment". Again, this is due to them not processing the payment on time, never letting me know what was going on, but registering every month a late payment. [Naturally, they were reporting this every month to the credit bureau as a late payment. You should see my credit report. Every single account is PERFECT with exception of Americredit. I won't beat this dead horse, but you get the picture of what they did and are doing.
I was denied credit and looked into why? Found this problem and began to experience the evils of AMERICREDIT! They are extremely good at playing the "let me put you through to someone else" game. They are very good at putting you through to "my supervisor" they are very good at when you catch them at their game, saying, "let me call you back, and never getting in touch with you. [Tangent... If you do your research on the web you will find their business practices quite interesting and alarming]
This is an exerpt "As a consumer finance company, the Company is subject to various consumer claims and litigation seeking damages and statutory penalties based upon, among other theories of liability, usury, wrongful repossession, fraud and discriminatory treatment of credit applicants, which could take the form of a plaintiffs class action complaint. The Company, as the assignee of finance contracts originated by dealers, may also be named as a co-defendant in lawsuits filed by consumers principally against dealers. The damages and penalties claimed by consumers in these types of matters can be substantial.
Management believes that the Company has taken prudent steps to address the litigation risks associated with its business activities. However, there can
be no assurance that the Company will be able to successfully defend against all such consumer claims, or that the determination of any such claim in a
manner adverse to the Company would not have a material adverse effect on the Company's indirect automobile finance business."
On with my complaint, I am a National Guard Soldier and attempted to use the SSCRA to reduce my interest rate to 6% dated back to the date of my orders, well over 100 docurmented phone calls and to no avail. When I threatened litigation they applied back interest rate to my account, but still charged late fees and finance charges. And still reported all of those as late payments to the credit agency. My Mitisubishi Montero has been paid every month since the date purchased.
For the past two years, it has been paid electronically, early, in excess of the amount owed, and THEY STILL REPORT IT EVERY MONTH TO THE CREDIT BUREAU. They don't care, they wont quit doing it, and I don't know what to do. When I sent a copy of the SSCRA to Americredit and told them that they can't charge me late fees, they can't charge me finance charges, THEY CAN'T REPORT ME LATE TO THE CREDIT BUREAU, or the language is they can not report anything that will result in adverse effects on the soldier, they do it without hesitation and often with great contempt.
In January, I sent them $1000, two and half times the amount of my regular payment to end the madness, Guess what... THEY AGAIN REPORTED ME LATE, took $200 or so and applied it to MYTHICAL late fees and charges, and only credited me $720 towards a payment? I Need a good attorney, someone who understands this madness, can deciphur their B.S. "detailed payment histories" and fix my credit report. At this point, I don't care about all of the "STOLEN" money. I want them to take the negative credit reporting off ALL of my credit reports, and STOP REPORTING ME LATE
Very angry!
Jeff
Turlock, California
U.S.A.
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