I was in an auto wreck due to black ice and totalled. I notified my primary auto insurance, my GAP insurance and my finance company immediately.
After four months it appeared that the complete amount of my vehicle was going to be paid since GAP insurance is the insurance that covers any remaining balance above what the primary insurance covers. I stayed in touch with all three companies hoping to hurry the process and ensure that every one did their part. When Arcadia received the final pay off check I was in contact. They claimed I owed over $1100 more. I asked for an explanation. No one could explain so it went to dispute.
After being put off for a good couple weeks I insisted on something in writing outlining why I owe what I owe. They could seemingly show I owed a little over $500 but could not send documentation of the other $600 due. They simply sent a letter saying it was due with no explanation. I of course continued to dispute this claim.
During this time I was refinancing my home, this had a halting effect. I borrowed the money to pay the amount claimed due to clear my credit and figured I would dispute later. They said if I paid the amount in full they would revise my credit information when reporting the payment. I accepted this for the moment.
Well not only did they report it as a charge off instead of a paid in full.
Even more so they are saying there is a remaining balance of. 24 cents is why they reported it as a charge off. The day I made my payment I spoke with a Rep in the morning, he gave me an exact figure to pay off, by lunch I paid the exact amount by Western Union Quick Collect which takes a maximum of 10 minutes for the company to receive. How could there be a $. 24 cent balance.
This has now prevented me from refinancing my home. I have tried to contact the offices and get transfered to voice mails and no return calls. I am disquisted with this whole company.
0 comments