I had missed a July payment on an installment loan for the purchase of a $33,000 Kia Optima, $387.97 monthly payments. The loan started 2/15. I caught up on the payments to the point where the last payment on the loan would be -$5. The collection department insisted that we needed to pay $761.49 because we had missed July and their explanation included saying I had also missed August then the next time I talked to them they said the August payment was received but then the September payment was omitted. The payment amount $761 is not what would account for being 60 days behind ($775.94 is 60 days late).
In I missed a July payment, I made a $400 payment in August a $500 payment in September and a $500 payment in October. The three late notices caused the collection department to stop November statements from being mailed to us. December, 1 they wrote a repossession letter for $903.58. The car was hauled away 12/15. We paid all the fees and jumped to there tune.in December we paid $1687.97. I wrote to the collection department, and have the scam they played in repeated in letters from them, including the letter that says they did not print a repossession letter for $803.58. When the August payment is omitted, the amount behind we would be was $803.58. The October late statement, printed 10-16, said we were late $129.58 of the September payment. I made the October payment on the 29th, the October payment was due on the 25th. The amount owed to the credit union on 10-28 was $517.55, the 10-29 payment of $500 left $17.55 owing of the October payment. Per the amortization schedule on the loan showed December was paid by that October payment. The money paid in December took took us up to June on the amortization schedule. A credit check in 2010 shows only late payments to a specific company, no repossession.
August I received a repossession letter saying I owed them $1300, September's repossession letter letter said I owed less than one payment. October's repossession letter said I owed $525.in November I received three late notices. Two of which applied a late fee. California Financial code 15001, says that credit union's can not charge more than one late fee per payment period. At that point I no longer received statements from Golden One Credit Union. Febuary 15 I made a $300 payment, leaving a balance of $3740.36 of the loan, three days later I received a repossession letter stating that I was behind back to December's payment. If I was late back to 12 the balance left owing in the account balance would have to be $57000. Per the amortization schedule, I was behind $255 on the May payment. I wrote to them and was told my arguments about their fraud was insignificant and unimportant. They would not accept monthly payments only the extortion amount of $1200 asking us to pay May, June and July payments in February. They charged off the loan in June asking for one late fee payment. The balance left owing on the charge off was $3739.35, (3740.36 -1.01) The $1.01 was in savings with them. If I was late at the beginning of February there would have to be 6 late fees. They got the car 9-20. They sold it in December I collection company sent me notice that I needed to pay $790 to Golden One. I spoke to this agency once telling them that Golden One had wrote me a repossession letter for being three months behind when I was three months ahead. I also staed that I was going to take legal action and they would be included. I never received another letter or phone call from them. I wrote for an accounting on the sale of the car and sent proof of their breaking the law and the law they broke. I got another threatening letter with the accounting which included gas enough to go 100 miles and a $100 commission charge {$1500 }. To whom am I paying commission? Why am I paying for gas to go for a hundred mile ride.
Their last threatening letter doesn't hold much weight with me because I doubt they can haul away the house I rent.
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