American General Financial Services Complaint - No other options offered

Review by sunnygemini on 2008-02-12
JACKSONVILLE N.C., NORTH CAROLINA -- I have been with this finance company for a few years. Sincre June of 07,i have been dealing with financial hardship. My mortgage company worked with me, and thanks to them I still have my house. I asked the managers, and other office employees that I did not have the funds at that time to pay them,I made the offer of refinancing my loan, due to the company holding my car as collateral. All I get from that we are just going to have to take your car. So again borrowing money from family in order to save my car. They have not once offered to modify my loan.I am paying more in principal than I am on the loan itself.You have to have full coverage on the automobile also. what else can a person do to get my payments lowered, until I get back on my feet?

Not at no time have I not returned their calls, but they can not offer me lower payments. I am terribly disappointed with this company right now.
Comments:2 Replies - Latest reply on 2008-02-13
Posted by 2inform on 2008-02-12:
Sell the car before they repossess it. This way your credit won't take a hit. Freeing up the cash used for the car payment will help with the financial hardship because they don't have to modify the loan.
Posted by Anonymous on 2008-02-13:
Well, that all depends. If the car loan balance is larger than then the value of the car, there will still be a car loan to payoff.

The fact of the matter is that you signed a contract. Since I doubt that there is any clause in it for a change in financial situations, you are in default. They have no choice but to reposses. Everyone has a story.

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