• Report: #537574

Complaint Review: AMERICREDIT AUTO FINANCING CO

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  • Submitted: Thu, December 10, 2009
  • Updated: Tue, December 22, 2009

  • Reported By: 08MustangGT — Orlando Florida United States of America
AMERICREDIT AUTO FINANCING CO
P.O. Box 183834 Arlington, Texas United States of America

AMERICREDIT AUTO FINANCING CO DO NOT TRUST THIS COMPANY!!!!! Arlington , Texas

*Author of original report: ALMOST 5 YEARS LATER!!

*General Comment: try this again

*General Comment: chapter 7 will not release you from a secured debt

*General Comment: eventually they will

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I dont know if I should HATE this company or LOVE them. I Purchased a new 2008 Orange Mustang GT in 2007. This Finance company is NOT just for people With "Bad Credit", I pay all my bills on time and "had" a 710 credit score however I did get denied by local banks because I was "over extented" So Americredit approved me. I really loved this car, and for almost 2 years sent every payment ON TIME. Sadly two years in the loan I get laid off, and missed my May 1 Payment.


They of course called me.... I told them I had been laid off and on June 2 I would make my May payment and 2 weeks later would make my June payment which would bring me current. Rep stated that would be ok, and she would note it, well I guess they take crapy notes Cuz on May 29 They Call AGAIN, I tell them I already have arrgmnts. This rep starts Varifying my address and states that a payment needs to be made NOW, and that he could care less what the other rep said. I hung up. Went and made my Payment via Western Union Quick collect on June the 2nd like I said. So this puts me 1 day behind for June....Do you know on June 3rd A Repo agent Comes to my house and hooks my car up. I would not let him leave and I called the Police. Police comes and stated they do not get involved with repos, and made the agent release my ride.


I called them VERY IRATE. and they Stated that there were no notes in the system, and I would have to pay the repo fee even though they didnt get it........ Hmmp well I was truley hurt and have moved out state and have not paid 1 RED CENT on the car. They can not find me and NEVER will. I hate it had to come to this, but this is how you turn a good customer bad. after reading all the rip off reports on here I dont feel bad anymore They have already reported this on my credit ... Thank you Americredit, I just LOVE Driving your car and being able to put that $500 car payment in my pocket  EVERY MONTH. Chances that you see that Mustang again, is as good as a sno balls chance in Hell.. This is for all my Americredit customer who have been screwed! I have filed bankruptcy, and rebuilding my credit all while enjoying my Mustang!!! Thanks Americredit!!!!!


This report was posted on Ripoff Report on 12/10/2009 08:58 PM and is a permanent record located here: http://www.ripoffreport.com/r/AMERICREDIT-AUTO-FINANCING-CO/Arlington-Texas-76096/AMERICREDIT-AUTO-FINANCING-CO-DO-NOT-TRUST-THIS-COMPANY-Arlington-Texas-537574. 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.

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REBUTTALS & REPLIES:
1Author 3Consumer 0Employee/Owner
Updates & Rebuttals

#1 Author of original report

ALMOST 5 YEARS LATER!!

AUTHOR: 08MustangGT - ()

I  WOULD JUST LIKE TO REPORT SOMEHOW...SOMEWAY...IAM STILL DRIVING MY 2008 ORANGE MUSTANG. THEY SENT A SUBPOENA  TO ME FOR COURT ..I SHOWED THE COURT I FILED BK  CH7. HAVE NOT HEARD FROM THEM SINCE .. THE CAR IS STILL REGISTERED AT MY PARENTS ADDRESS  ..WITCH I NEVER DRIVE IT OVER THERE.LOL)  SO IM STILL ABLE TO RENEW MY STICKER EVERY YEAR..AND IS FULLY INSURED IN MY DADS NAME, WITH ME LISTED AS AN ADDIDTIONAL DRIVER. I GOT PULLED OVER FOR TINTED WINDOWS LAST WEEK AND I THOUGHT THEY WOULD HAVE REPORTED IT ..BUT NOTHING. (SMH) THANKS AGAIN AMERICREDIT!!!  

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#2 General Comment

try this again

AUTHOR: Kathryn - (U.S.A.)

Um you didn't burst my bubble.  That is excatly what I told him.  He couldn't get away with not paying it.  Used to people kept filing chapter seven every few months so that they could stay under the protection of the bankruptcy court.  I work with a bankruptcy attorney so I know how sneaky some people are.  Now they cant do that.  Once your bankruptcy is discharged you are not protected and your creditors can claim any secured property.  You now have to wait eight years before filing chapter seven again.  Sorry if you misread my post or if I didn't word it correctly.
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#3 General Comment

chapter 7 will not release you from a secured debt

AUTHOR: IamGood - (USA)

hate to burst your bubble Katheryn, but filing chapter 7 only fully discharges unsecured debts, like signature loans, and credit cards.

Secured debt like Cars, and house's are not discharged.  They simply take the payments that are past due, and place them at the end of the loan to be paid back.

Prior to a few years ago, unpaid payments on a secured debt after a bankruptcy discharge were written off, and the loan was recalculated based on the car's actual balance.  (The amount that the debtor was upside down, was charged off under Chapter 7, as a unsecured debt).  This no longer occurs, thanks to the new Bankruptcy laws passed under the Bush administration.

While under Bankruptcy protection you are required to keep your current address posted with the Trustee.  The trustee is paid, and he distributes the money collected to the various creditors.

If this lady refuses to pay after the bankruptcy (even chapter 7), Americredit can and will get the stay listed, and they will be able to take the car back.

Funny thing about these Sub prime lenders, they often times will have a gps installed in the car at the time of purchase (not notifying the debtor), so all they have to do, after the stay is lifted, is to activate the gps, and boom they will have the location of the car.

This time however, they will have a COURT ORDER  allowing them to take the car, and the police will have no choice but to allow the repo agency to take it.

As for the original poster, you are nothing but a DEADBEAT.. you will get yours someday, and by the way, your credit is SCREWED for 10 years.  You will never be able to buy anything on credit any more, and I hope you can find a job,  because most employers pull credit bureau's now, and if you have bad credit they will not hire you.

 

 

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#4 General Comment

eventually they will

AUTHOR: Kathryn - (U.S.A.)

Why do you think Americredit will not find you?  Even though you moved out of state you have to put insurance on the car.  At some point the serial number of the car is going to show up in somebody's system.  Once your case has been discharged from the Bankruptcy court Americredit can pick it up to reclaim some of their loss.  The only way to keep them from picking it up is to file Chapter 7 again.  Used to people kept filing Chapter seven to stay under the protection of the court but now you can't do it for another 8 years.  If you filed Chapter 13 the car would be part of the repayment plan. 

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