• Report: #979737

Complaint Review: Ford Motor credit

  • Submitted: Sun, December 09, 2012
  • Updated: Sun, December 09, 2012

  • Reported By: Robert — Pacifica California United States of America
Ford Motor credit
3660 Regent Boulevard Internet United States of America

Ford Motor credit FMC Legal loan sharking, Internet

*Consumer Comment: You flushed your credit

*Consumer Comment: Yep, You Sure Showed Them!

*Consumer Comment: Loan Shark?

*Consumer Comment: A good example

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Thanks Ford Credit. (for trying to ruin my life) Please let me start by saying I have worked very hard and have paid my bills on time as well as having maintained a perfect credit score for the past twenty years. I take great pride in being a model citizen having come from a very tough upbringing. 
 
The short story; By the time the recession hit I was on my 5th Ford truck. Called Ford Motor credit three times to try and work out the loan so I could keep the truck. Didn't want a deal, just some time, lower payments, extend the loan etc, etc.
No go. So I surrender the truck. A few months pass and I receive a bill for $1800. The difference they claim I owed them as the truck as it did not sell for enough to satisfy the loan balance. Can't and will not pay it. Next they they send it to their (I believe in house law office). Bill now $2400. Next they place lien on my home. Next they place a lien on my checking accounts. Finally they get a court order to have my own company garnish my wages for the now due $3750. 

A proud American self employed blue collar worker who is raising a family proud to drive an American made truck, no more.
I am shocked and amazed at how Ford has handled the matter. After watching this country crumble, and witnessing first hand how hard working Americans are being treated I have to say I am no longer a proud American, but rather a man on a mission to survive and play by the new rules as needed to feed my family. Rules made by me half the time. I could on and on. 

This report was posted on Ripoff Report on 12/09/2012 02:05 AM and is a permanent record located here: http://www.ripoffreport.com/r/Ford-Motor-credit/internet/Ford-Motor-credit-FMC-Legal-loan-sharking-Internet-979737. 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

You flushed your credit

AUTHOR: coast - (USA)

"loan sharking"

Loan sharking is a term that refers to extremely high interest loans. You never mentioned the interest rate. Ford Credit was under no obligation to honor your request to alter the terms of the loan agreement. You retaliated by refusing to honor the terms of the agreement.

"After watching this country crumble"

Look again, that's your credit that crumbled.
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#2 Consumer Comment

Yep, You Sure Showed Them!

AUTHOR: Jim - (USA)

You sure showed them!  Giving them the truck as a voluntary REPO, sure did hurt them, didn't it!  Yep, that one act put them on the ropes, didn't it!  You sure showed them!!!  Of course, you could have gotten a part time job to help make ends meet but that testosterone level was really high that day, wasn't it?  You wanted to show them how much of a man you were and they aren't going to mess with you!

Enjoy your SUBPRIME credit status!!! 
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#3 Consumer Comment

Loan Shark?

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

There is NOTHING in your report that shows even remotely how they are a Loan Shark.   Perhaps you are leaving that out.

Didn't want a deal, just some time, lower payments, extend the loan etc, etc.

- You didn't want a deal?  Well that is exactly what asking for lower payments, extending the loan or what ever you consider "etc" is.

A few months pass and I receive a bill for $1800. The difference they claim I owed them as the truck as it did not sell for enough to satisfy the loan balance. Can't and will not pay it. Next they they send it to their (I believe in house law office). Bill now $2400. Next they place
lien on my home. Next they place a lien on my checking accounts. Finally they get a court order to have my own company garnish my wages for the now due $3750.

- There sounds like there is a lot of information you are leaving out.    One question is were you ever served a summons to go to court, and if you were did you go? Perhaps this letter from the law office was actually a court summons?    How much time passed between the car being repossessed(yes even if you turn it in it still goes down as a repossession). 

The reason about the summons is important because to get a court order to do everything you said they did, they would have had to sue you.  If you were never properly served with a summons you may have legal grounds to have the suit vacated(basically cancelled) and all of the garnishment orders cancelled until you are able to have the court hearing.  Now, if you were served and just decided to not show up..well then everything they are doing is legal and a direct result of you ignoring it.  Where I am sure you don't need to be reminded of this but if there is a valid court order and you do not garnish your own wages you(as in the company) could be in serious trouble with the courts.
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#4 Consumer Comment

A good example

AUTHOR: willobi - (USA)

Before all of the "you signed the loan", etc BS starts let me just say this. I financed one car through Ford Credit 25 years ago and will never do it again. From the dealership right up to the final payment, all parties involved were untrustworthy, shady and bordering on unethical. I was never as happy to get something paid off as I was that car. I am not surprised they wouldn't work with you. That is the new corporate thinking in general. Corporations are going to get their money one way or another, and the couldn't care less about the working people. They run the country now, and they can and will do anything they want. We are all blaming the politicians for the shape the country is in, but they are just doing what their corporate masters are telling them to do. The country will go down the tube, and our great corporations will come and "save" us. Then they will own the country and us too. It is all part of their grand plan.
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