• Report: #40906

Complaint Review: Arcadia Financial Ltd

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  • Submitted: Fri, January 10, 2003
  • Updated: Sat, December 11, 2004

  • Reported By:Rapid City South Dakota
Arcadia Financial Ltd
arcadiafinancial.com Minneapolis, Minnesota U.S.A.

Arcadia Financial rip-off screwed others too Minneapolis Minnesota

*Author of original report: arcadia car finance SUCKS big time

*UPDATE EX-employee responds: Need More Information

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I was "forced" to take a loan with Arcadia because my car crapped out and the local Ford dealer made arrangements(thanks guys)

I knew in advance interest was 28%( I even joked with the guy that credit cards were cheaper at 19%....) but I really had no choice...I needed a vehicle for work. I eventually filed bankruptcy several months later after trying for YEARS to repay several debts that wouldn't work with the credit help companies I tried. The auto was included in the bankruptcy.
A
fter it went through, Arcadia contacted me and "suggested" that I could continue to make "voluntary" payments, or give the car back. I have continued the payments for almost a year and a half. Now a close friend has offered to help me get another car(cosign or loan me the money direct) am I stuck with anything if I tell them they can "have their car?"
Any help would be appreciated greatly....

James
Rapid City, South Dakota
U.S.A.

This report was posted on Ripoff Report on 01/10/2003 09:41 AM and is a permanent record located here: http://www.ripoffreport.com/r/Arcadia-Financial-Ltd/Minneapolis-Minnesota-55440/Arcadia-Financial-rip-off-screwed-others-too-Minneapolis-Minnesota-40906. 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 Author of original report

arcadia car finance SUCKS big time

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

arcadia finance kept wanting more money for they said extra insurance coverage we had a 2002 chevy avalanche one time they called and wanted 958.00 for the insurance and we did a check over the phone then everything went fine for about 3 months then they called up and wanted another payment,i told them that my husband was'nt home to ok it they got rude and said do you realize that you have a 30,000 dollar truck in your yard?i told them that yes i knew that anyway we didnt send them that extra money and within 3 weeks they came and repossed the truck they said we owed 22,000 on it then we got a letter saying they sold it for 14,000 and we owe them over 8,000 .
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#2 UPDATE EX-employee responds

Need More Information

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

Ok- I think I can help you out on this, but I need more information. As a former employee of Arcadia/TranSouth, and a current auto collector and bankruptcy filer, I think I know what I'm doing.

When you filed Bankruptcy, what chapter did you file? Did you reaffirm the auto or not?

If you did = then it is like no bankruptcy occured and you are obligated to make payments. If you want to give up the car, it goes on record as a reposession.

If you didnt- Technically you have no debt, thus Arcadia can take the car at any time. You need to speak w/ a bankruptcy specialist regarding this.

Hope this helps
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