Thor Credit Corporation Complaint - Manner of reporting to credit agencies ruined my credit
I had a motorhome loan with Thor Credit Corp. I loaned the motorhome to another person to use on the condition that he make the payments. Thor learned that a person other than me was making payments and repossessed the motorhome because it violated their contract. To settle the threat of a lawsuit against me, I paid Thor $29,000 as the settlement reached between me and their attorney, on top of the $37,000 they recouped at a private auction. Thor reported this matter to the three major credit reporting agencies in such a way that my excellent credit score has been ruined.