Arcadia Financial - TranSouth - Ford Motor Co. Misapplied payments consumer fraud ripoff victimized many consumers Lombard Illinois

I have fallen into the same delima that many others have complained about, making 4+ years on a car, and finding that only a small percentage of the payments have been applied to the principal balance.

I have tracked all the payments since 1998 until recently, have the back-up to each and found that I am acutally 5 payments ahead, they are threatening to repo my car.

They gave me an extension on 2 separate occasions, and then, a year later, gave me a payment "reversal", deleting 2 of my payments from their system and calling it "we decided not to give you the extension". I have a printout of my payments and there is very little of my payments going to the principal.

The loan term is up in a year, but I still owe over $4500 on the vehicle, the loan amount was for $8904 in 1998.

After 60 payments I should be almost paid off. I am wanting to sue them for theft and fraud to end their lucrative career in creative bookkeeping. I am not going to take a Chapter 7 bankruptcy, I'm going to sue them for all that I can.

I would like it very much if anyone who is doing this now, or wanting to do it please contact me. A good class action would do them good. One of their affiliate companies got sued for doing something similiar to home mortgages, the bigger they are, the harder they fall.

Stephanie
North Kansas City, Missouri
U.S.A.