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Americredit Complaint - Americredit is shady - auto loan
auto loan - Complaint
FORT WORTH, TEXAS -- Americredit is the most low ball finance company ever!! They waited until I was 56 payments into a 60 month loan with only 2,000 dollars left on my balance to re po my car. I went pick it up three days later, and paid it off but they won't remove the repo from my credit. I bought the car in 2001 and paid it off in full in 2007, but they won't remove the repo from my credit even though I own the title the car is mine and has been paid off for four years.
Comments:
Posted by tnchuck100 on 2011-02-05:
How many payments were you behind? If you were 3 payments behind they are very likely to repo the car. Since there WAS a repo it WILL stay on your credit report for 7 years. That's just the way it works.
Posted by Anonymous on 2011-02-05:
If you are late, you are late. Regardless of how much left you owe on the car. You're lucky they let you pay it off and keep the car, they could have kept the car and all your money and you would be SOL.
Posted by jktshff1 on 2011-02-05:
You can file a "comment" contesting the report or giving you side of the story on your credit report.
Posted by Obsfucation on 2011-02-05:
They had to chase you for the payments. You were so delinquent that they incurred the expense of repossessing the car. Now you think that they should pretend that none of that ever happened?
Posted by tnchuck100 on 2011-02-05:
Prince, just for the record when a car is repo'd the finance company sells it and you are entitled to any monies left after the payoff and repo fees. You may have to sue for it but you ARE entitled to it.
Posted by Obsfucation on 2011-02-05:
They rarely sell for more than the balance of the loan, and the borrower is still liable for any deficiency.
Posted by Anonymous on 2011-02-05:
oh okay. never had a repo so I dont really know all the legalities.
Posted by tnchuck100 on 2011-02-05:
Obs, that is also true.
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