• Report: #1021767

Complaint Review: Americredit Financial Services

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  • Submitted: Thu, February 28, 2013
  • Updated: Thu, February 28, 2013

  • Reported By: Don & Brenda — Chapel Hill Tennessee United States of America
Americredit Financial Services
5820 Camp Bowie Blvd Fort Worth, Texas United States of America

Americredit Financial Services P.O. Box 2687 1099-C for Totaled Car in Dec. 2004 Fort Worth, Texas

*Consumer Comment: NOPE!

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Recently read a report on this web site, after researching Americredit Financial. Surprised to find this web site with a similiar story to mine.  This company filed a loss to the IRS pertaining to a totalled jeep my insurance paid off in 2004. probably will have to pay the irs so they will get off my a@#!.  but if they need money that bad after the government has already bailed them out guess i will have to help them out. just does not seem right after thinking this matter has been settled for all these years.

This report was posted on Ripoff Report on 02/28/2013 05:44 PM and is a permanent record located here: http://www.ripoffreport.com/r/Americredit-Financial-Services/Fort-Worth-Texas-76107/Americredit-Financial-Services-PO-Box-2687-1099-C-for-Totaled-Car-in-Dec-2004-Fort-Wor-1021767. 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 Comment

NOPE!

AUTHOR: Jim - (USA)

Americredit did not receive any bailout.  Onto you.  What did they say the 1099 was for?  Did your insurance company pay for the value of the car or did it pay for the loan contracted amount?  In all probability they paid ACF for the value of the car one second before the destruction which is always less than what you owe on it.  They may have gone after you for the difference, you didn't pay and so they LEGALLY ISSUED a 1099 for the amount you owed because as per basic accounting, such money due them but not paid by the borrower is considered income and is taxed.  Nothing new here and nothing illegal, immoral or unethical on the part of ACF.  This sort of thing is also part of the so-called real estate crisis within the realm of "loan forgiveness".
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