• Report: #419862

Complaint Review: Americredit Financial

  • Submitted: Tue, February 03, 2009
  • Updated: Tue, March 31, 2009

  • Reported By:Wakefield Massachusetts
Americredit Financial
801 Cherry St Ste 3900 Fort Worth, Texas U.S.A.
  • Phone:
  • Web:
  • Category: Loans

Americredit Financial said I was late one month after paying $15,000 the month prior Fort Worth Texas

*Consumer Comment: Satisfied Americredit customer

*UPDATE Employee: I see your point

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I had a payoff amount of $15,287 in Nov 2008. I secured funds for $15,000 in mid November. I sent the 15K. That left a balance of $287. I spoke to them in Dec 08 and twice in Jan 09 expressing my willingness to pay off the $287. I set a date of Feb 6 to pay $100 and the rest within 2 weeks. They sent me 2 different bills claiming I owed more than the $287 and even the website had a different amount. Come to find out out, they didnt apply the $15K to my dec payment or any other months that would follow (I paid them 3 years worth of payments at least!!). Instead they added it to the principal only. they reported me to the credit bureau's for being a month late on the $287 even after I worked out a deal. They were mad because they lost years worth of interest because of the $15K no doubt about it. I have since paid in full and will be vindicated on the credit report!! They never told me they only applied the money to the principal. Also the reason why they didnt apply the $15K to the dec payment date was because I sent the large sum "too early". Becareful and Beware they are snakes and their stocks are plummeting!!

Steve
Wakefield, Massachusetts
U.S.A.

This report was posted on Ripoff Report on 02/03/2009 07:06 PM and is a permanent record located here: http://www.ripoffreport.com/r/Americredit-Financial/Fort-Worth-Texas-76102/Americredit-Financial-said-I-was-late-one-month-after-paying-15000-the-month-prior-Fort-419862. 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:
0Author 2Consumer 0Employee/Owner
Updates & Rebuttals

#1 Consumer Comment

Satisfied Americredit customer

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

I have financed and paid off 2 vehicles thru Americredit. The first one got repossesed one time due to a mis-communicaiton between me and the company. However, I found them easy to work with and we resolved the issue within 24 hours with the only additional cost to me being for one day's storage of the car. The mis-communication was my fault. Other than this issue, I never had any issues with the company trying to scam or rip me off. As a sub-prime customer, I also feel that I had a decent interest rate as well, even though I think all sub-prime borrowers get ripped off on interest rates. Any time I knew I would have a late payment for what ever reason, I was able to call them and they worked with me. Overall, I was always happy with the service I received from Americredit.
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#2 UPDATE Employee

I see your point

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

to speak for ACF i can honestly say we would not get upset if you are near paying off the loan. i praise customers when they are able to do so. (shoot, i'd throw myself a party to celebrate if i was able to payoff my car!)
but unfortunately in your case, you can't assume that ACF knows what you want the balance to be applied towards. When it is such a large balance of 15k it is automatically applied towards principle ***unless told differently by the customer***. If you would have called and advised them to apply towards your past due payment, then they would have gladly done so (((its not like we want to collect on a customer))). especially if they only owe less than 300.00 on the rest of the loan!
And the reason why the remaining payoff amount was getting higher as time progressed because every day the acct is past due, you accrue daily interest and late fees (once per month). Nothing is done illegaly in this matter. Its just an unfortunate misunderstanding and miscommunication.

but congrats of owning your own vehicle!
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