Its sad but true. Auto companies will transfer your auto loan without properly notifying you.
I purchased my car from an auto dealership and made all of my payments directly to their office as stipulated in my contract.
Without notice, call or letter, United Acceptance made threatening phone calls and stated that I owed them money and that my payments were late. They threatened to repossess my car. Therefore, I sent money orders made payable to the auto dealer and United (mailed to United). At this point I did not know who I needed to pay.
I asked them to identify who they were and provide a copy of a notice of transfer and servicing disclosure (supposed to be mailed within 30 days of transfer). Of course, I never received anything from their office in writing. I grew skeptical of this company and wondered what did they have to hide.
Certified letters have been mailed directly to their office and I did not receive an answer. I stated in my letter that I had notifed the Federal Trade Commission.
This company had bought my loan and had a copy of the incorrect contract in the file (the terms of the contract were wrong). I possessed a copy of my final and correct contract (corrected by the previous dealer).
After months of harassing phone calls and idiots who can't get anything right, I have had enough with this company. Of course this is a negative on my credit report now.
Can Georgia legislature pass decent laws that with protect consumers and crack-down and slummy auto dealers and finance companies?
Please, if possible do not finance a car... Pay cash. Beware of Buy here pay here lots that advertise that they do not check your credit... Because they do.
Oh by the way, do not believe a word the the salespeople tell you. When asked if my car had been in a previous accident I was told "no"... And the answer is "yes" after thorough inspection by an auto body mechanic... Need I say more.
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