Ford Fairlane Credit, LLC Auto Financing ripoff Irving Texas

Ford Fairlane Credit is attempting to coerce my daughter into accepting a higher principle amount than is owed. Here are the details from the record they have delivered for refinancing:

10/21/03 Resched payment agreement itemization $15,999.18 (she actually owed at that time ~$13,000)

Date of Contract 12/16/02 $20,120.31

Finance Charge $5,365.14

begin date 1/15/2003

$445.09 per payment; # of payments 47

12/16/02 reduced interest rate eligibility

Now she owes only ~$11,000, as a result of her continued payments at the previous higher rate, but the Rescheduled Payment Agreement they want her to sign still shows $15,999.18. They keep telling her to sign the papers and they will give her credit retroactively. Once they have a paper with information to the contrar and her signature, I am sure they will disavow these verbal statements.

To the best of our knowledge there was no official truth in lending disclosure, although I do not know if their statement comprises fulfullment of that requirement.

I have advised her to call the Federal Trade Commission, Consumer Response Center @ (877) FTC-HELP (382-4357) about this matter. Hopefully, they will marry up this complaint with her complaint and the many others like it and there will be some swift action. I have seen good luck with others who have complained on this site. Hopefully, Ford will be held accountable for these high-pressure, deceptive sales tactics.

DB
Taylor, Arizona
U.S.A.