Complaint Review: GMAC Financial Services - Phoenix Arizona
Ripoff Report on CBS 19
Ripoff Report on CBS 19 - Global Marketing Alliance
Ripoff Report on ABC 15 - Smart Shopper
Ripoff Report - Girls Gone Wild
Ripoff Report on Fox 11 - Car Repair
- Author Not Confirmed
- GMAC Financial Services PO Box 78252 Phoenix, Arizona United States of America
- Phone: 800-200-46
- Web:
- Category: Financial Services
GMAC Financial Services Refuses to Acknowledge Loan Balance Pay-Off Phoenix, Arizona
* : Update Sept. 14, 2009
Show customers why they should trust your business over your competitors...
listed on other sites?
Those sites steal
Ripoff Report's
content.
We can get those
removed for you!
Find out more here.
Ripoff Report
willing to make a
commitment to
customer satisfaction
Click here now..
On 7/28/09, a dealership received our car as a trade-in, releasing us from obligation to the related GMAC auto loan.
As expected, we soon received a billing statement for the NEW car.
However, a couple weeks later, GMAC sent us "Past Due" notices for the OLD car (even though the dealership had sent GMAC the pay-off).
Upon calling GMAC, "Julias" informed us that GMAC will report us if we don't make two monthly installment's worth of payment(s) within 60 days (Sept. 8, '09).
Both we and the dealership have tried reaching GMAC for acknowledgement of the old loan's pay-off, and have been getting no confirmation whatsoever.
Last year we had done a similar transaction: we had traded in a previous car (same dealership), and GMAC promptly closed the related loan account. There were no problems that time.
But GMAC has changed since then and _this_ time GMAC refuses to acknowlege the funds which the dealership has sent to them (and the dealership says those funds have "cleared").
The dealership says this is happening to other customers as well! September 2009.
This report was posted on Ripoff Report on 09/05/2009 06:22 PM and is a permanent record located here: https://www.ripoffreport.com/reports/gmac-financial-services/phoenix-arizona-85062-8252/gmac-financial-services-refuses-to-acknowledge-loan-balance-pay-off-phoenix-arizona-490786. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year. Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report. READ: Foreign websites steal our content
If you would like to see more Rip-off Reports on this company/individual, search here:
#1
Update Sept. 14, 2009
AUTHOR: LaVonne - (USA)
SUBMITTED: Monday, September 14, 2009
Finally today, 9/14/09, we received a 9/10/09 letter from GMAC Financial Services acknowledging the loan-payoff from our auto trade-in.
Keep in mind that GMAC Financial Services and the "dealership" are NOT the same entities. GMAC is who we had the problems with.
Our trade-in was tied to an auto loan with GMAC and the dealership produced papers releasing us from obligation, signed 7/28/09.
GMAC considered us "late" on 8/8/09, and threatened to "report" us if we didn't make a double payment by 9/8/09.
The dealership told us that the funds related to our trade-in "cleared" promptly after signing, so we should have NEVER received any late-payment notices or threats.
This we agree with. We've done similar trade-ins with this same dealership and GMAC Financial Services in the past without any problems whatsoever.
GMAC claims the payoff date as 9/9/09, which happens to be one day after the so-called reporting date!
Hopefully all is finished in this case!
Related Reports
04:37 PM
10:39 AM
New 
Updated 
Rebuttal 
Photo 
Advertisers above have met our
strict standards for business conduct.
