Credit Acceptance DO NOT MESS WITH THIS COMPANY, RIP-OFF, Internet

The borrower is a SUBPRIME credit risk.  This didn't just "happen" thru no fault of their own.  They developed their reputation by screwing other creditors by NOT PAYING THEIR BILLS on time!  They could have QUALIFIED for lower APR bank financing however, THEY CHOSE to screw other creditors and as such, they don't qualify for a lower APR loan...and no, they aren't "ENTITLED" to it either!  If people don't want to pay a high APR, then its simple...pay your bills on time!

Life is not fair. If you borrow money to buy anything, you need to read the contract first. You can negotiate terms before you sign; but, once you have signed you have agreed to pay back the money you borrowed under the terms in the contract you signed.

So, did the seller and the lender take advantage of you? Yes. You let them take advantage of you by choosing not to read and negotiate the terms before signing. Then to make matters worse, instead of selling the vehicle yourself or refinancing under better terms you elected to just give it back to the dealer! Do your homework before you go out to buy anything else.

Face it SCUMBAG, you are a sub prime borrower.  I will try to explain what this means to you in the fewest number of mono syllable words possible.

SubPrime Borrower is a person who borrows money, and either pays late all the time, or doesnt pay it back at all.  In order to get any one to TRUST you again, you have to pay down large sums of money, AND pay a high interest rate.

You, and all the readers out here KNOW that you were informed about the high interest rates.  You can try to play the Dumb bunny here, and say they did not let you know, but we all know , including YOU!!!!

So you wanted to return the car, and just walk away from it?  HA HA HA, well you are going to pay the price.  Even if you file for bankruptcy, you will have to pass the means test, that means if you make too much money to file for chapter 7, you will have to File For Chapter 13. 

Chapter 13 Bankruptcy means they will pool all your debts together, and you will be forced to pay something on the debt for the next 4-5 years.  This includes a fee for filing bankruptcy, and a fee every month to the court ordered administrator to your plan.

Not only will you still have to pay the losses that Credit Acceptance realizes when they sell the car, but you will also have to pay the Court Appointed Administrator to your plan.  Under the law, this would probably be a maximum of 10pct of the total bankruptcy plan.  So if you owed 40,000.00 in debts your fees would be 4000.00.  Look it up for yourself, it is called Chapter 13 Trustee Compensation.

However you will have more repercussions.  NO ONE WILL EVER GIVE YOU A LOAN FOR A CAR AT ALL.  WHEN YOU SCREW A SUBPRIME LENDER, NO ONE WILL TRUST YOU.  You are gonna have to save up to get any new car, so good luck. 

Go Ahead and file bankruptcy, it will be a pleasure seeing you squirm in pain, when you cant even get a loan to buy a pencil....   :}        

The finance rate that you agree to is on the signed contract.