• Report: #383981

Complaint Review: AmeriCredit Financial

  • Submitted: Wed, October 22, 2008
  • Updated: Tue, February 10, 2009

  • Reported By:anonymous New Jersey
AmeriCredit Financial
4001 Embarcadero Arlington, Texas U.S.A.

AmeriCredit Financial Rip off Arlington Texas

*Consumer Suggestion: Americredit Ripoff? I think you ripped them off

*Author of original report: Americredit Arlington Texas

*Consumer Comment: You were not taken advantage of

*Consumer Suggestion: Info on car repos

*Consumer Comment: Be accountable

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This company is such a rip off. They take advantage of people who are desperately in need of a car and they overcharge you.

We bought a car from a dealer and they used Americredit for our application. The car was $13,000 but we put down $1000 then they add on all the fees and stuff it came back out to be $13,963. We paid $377.00 a month for 3 years then we fell on hard times and had the car repossessed. They sold the car at auction for only $1700 and informed us that we still owed them $6700 (sounds crazy right?). I offered to pay them $100 a month and I was told that was not enough money that I would have to pay more. Now we are getting letters from lawyers because they want their money and the price now is $12,640. After all the money we already paid how can it possibly be almost double the price again ? Now they are threatening to garnish my pay.....good luck on that because they will only be getting $24.00 a week since I don't make much anymore after my company downsized and cut hours like crazy and my husband is not able to work. I would like to see the look on their faces when they see how much they will be getting.

DON'T EVER deal with this company they are a TOTAL rip-off and they don't care who they take advantage of.

anonymous, New Jersey

This report was posted on Ripoff Report on 10/22/2008 09:41 PM and is a permanent record located here: http://www.ripoffreport.com/r/AmeriCredit-Financial/Arlington-Texas-76014/AmeriCredit-Financial-Rip-off-Arlington-Texas-383981. 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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#1 Consumer Suggestion

Americredit Ripoff? I think you ripped them off

AUTHOR: Bdb1214 - (U.S.A.)


Americredit will find a way to get the monies that they are owed. Depending on what percentage your first garnishment is, Americredit will take whatever they can get from you. 25% is the maximum a garnisher can garnish from your wages. If you have more than one garnisher, the second garnisher must wait until the first garnishment is completed before they will be able to collect anything from your pay.

If the first garnisher is only taking 10%, then that leaves 15% of your wages available to the second garnisher. You can not have more than one garnishment taking 25% a time.

My advice, pay what you owe. Don't default on loans. Don't borrow more than you can pay back. Don't expect leniency.
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#2 Author of original report

Americredit Arlington Texas

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

A while back I had received a letter from a lawfirm stating they would garnish my pay if I did not give them $12,640. Yea, like I have that much cash laying around. I then wrote back to the lawfirm stating my situation and that they would only receive $24.00 a week if they garnish and they should have accepted my offer of $100.00 a month when I offered it before. I also stated that the amount was crazy and I would gladly pay the original amount that I was suppose to pay in the original paperwork that they sent me after they auctioned my car which was $6700.00. After a few months I received a call at my job from one of the attorneys stating that my offer was denied. I have to pay the entire amount, which is totally outrageous because it is double what I was suppose to pay to begin with. So I told him on the phone once again that it would only be $24.00 a week and that I already have a garnish over $3000.00 on my paycheck so they will be waiting a long time to get any money from me they would have to wait in line and then I hung up on them. By the time they actually start getting paid from the garnish it will be a couple of years yet so by then they will probably say I owe about $50,000.00. I can't believe that nothing can be done about this company. How can they get away with ripping off people so badly. Especially for a car that wasn't even worth the original buying price but we were in deperate need of a car and it is not easy getting a loan. I may have been better off going to a loanshark for money.
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#3 Consumer Comment

You were not taken advantage of

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

I use to sell vehicles and we used Americredit to finance. The reason we used americredit was for subprime credit. Meaning the customers financed were a higher risk do to negative items found in thier credit reports. With higher risk the customer pays higher interest which helps protect the lender if a customer defaults as what you did.

You were not taken advantage of. 99% of the time when people default on a loan the always seem to blame the lender. You went to the dealership, you chose the vehicle, you signed the contract which outlined the terms, you defaulted on the loan. Americredit did not force you to finance with them.
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#4 Consumer Suggestion

Info on car repos

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

As you have found, when a car is repossessed, you still have to pay your loan. Here's what they do. Say you still owed $7000 after 3 years of making payments. Then they repo your car and sell it at auction for $1500. They subtract the $1500 they got for your car from the $7000 you still owed, and now you owe $5500. Then they tack on repo fees and auction fees, so now you owe $6500. I don't know exactly how much those fees are, this is just hypothetical.

You are still responsible for the $6500 balance which is the balance you owed, plus the fees, minus what they got for the car. These practices are standard throughout the auto loan industry.

Now, since your matter has been turned over to attorneys, they have tacked on attorney fees and interest, which is why you now owe a large balance. Keep in mind, if your account is still within the statute of limitations for your state, they may bring a lawsuit against you for the balance.
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#5 Consumer Comment

Be accountable

AUTHOR: Savinggrace346 - (U.S.A.)

I cant believe you are calling AmeriCredit a bunch of scumbags when they are doing their job. Its how contracts and accountability works. You owe them money, plain and simple. You missed a payment, and they came after you for it. Im sorry if they didnt give you a hug and say not to worry about it. It is an auto finance company... not your mommy or best friend. And if your husbands name is on the loan and not yours, it doesnt MATTER how many times you tell them to leave him alone. Its HIS name on it, there for he is, by contract, RESPONSIBLE for it. You are screwing him and his credit score by having it in his name and then falling behind on payments.

In case you didnt notice... the only people who are complaining about this company are those who have not been able to pay their bills on time. Life happens, we lose jobs and move and have to deal with things we dont plan... but if you expect sympathy you are so WRONG. Did you ever think about the person who is calling you to make you pay or to take your car? Maybe they have deadlines and expectations to reach and calling you 3 times a day means that they get to put food on the table for their families? If you have an inconsistant job then you probably should buy a crappy old car that doesnt look or feel nice but wont die on you rather than getting a new one and getting a loan on it.

Honestly... take accountability and responsibility for your life and your actions. You are SUCH a victim.
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