• Report: #172203


  • Submitted: Wed, January 18, 2006
  • Updated: Tue, March 07, 2006

  • Reported By:ESSINGTON Pennsylvania
  • Phone: 800-7086680
  • Web:
  • Category: Banks


*UPDATE Employee: Did You read your contract?

*Consumer Comment: Did you bring the contract?

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On June 1, 2000 we took a auto loan with Charter One Auto Finance for 60 months (5 Years). Maturity of this loan should have been June, 2005. During the 5 years we deferred 5 payments.

When June 2005 came we had paid 55 payment leaving a balance of 5 payments. We paid these 5 payments from July 2005 until Nov 2005. We received a letter from Citizens Bank who took over Charter One telling us we stilled owed 1700.00 for the 5 deferments. We have called them numerous times and spoke to the consumer finance dept. Which the people are very rude even to
telling me that I was a deadbeat and I was paying the money weather I liked it or not.

We have went into the branches and the reps. in the branches do not have a clue and they called the same place that we called and all they can say is the contract is for 65 months and you extended the contract 5 months.

I cannot get anywhere with these people, we do not know what to do next.

Please, we need help.

ESSINGTON, Pennsylvania

This report was posted on Ripoff Report on 01/18/2006 12:51 PM and is a permanent record located here: http://www.ripoffreport.com/r/CHARTER-ONE-CITIZENS-BANK/SPRINGFIELD-Pennsylvania-19064/CHARTER-ONE-CITIZENS-BANK-CHANGING-CHARTER-ONES-CONTRACTS-ripoff-SPRINGFIELD-Pennsylvani-172203. 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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Updates & Rebuttals

#1 UPDATE Employee

Did You read your contract?

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

In your contract, if you had read it it states that any payments defered would still acrue interest from that date on, so if you defered these payments after the first year, you would have 4 more years of acruing interest that you would have had to pay on it. Before you accuse a company of ripping you off you should read your contract, and if you dont want to agree with it thats fine, then dont buy the car in the first place.
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#2 Consumer Comment

Did you bring the contract?

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

Did you bring the contract and show them it was for 60 payments? What about the deferred interest? Did you pay that? Depending on the amount of the loan, and the point at which you deferred, that could be equal to $1700.
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