• Report: #435608

Complaint Review: Triad Financial - Collector Patrick Johnson

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  • Submitted: Thu, March 19, 2009
  • Updated: Thu, March 19, 2009

  • Reported By:Philadelphia Pennsylvania
Triad Financial - Collector Patrick Johnson
5201 Rufe Snow Drive, Richland Hills, Texas U.S.A.

Triad Financial - Collector Patrick Johnson Harrasment By Triad Representatives Richland Hills Texas

*Consumer Comment: Unfortunately

*Author of original report: Several More Phone Calls

*Consumer Comment: Here's why....

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Today I have been called by Mr. Patrick Johnson a representative of Triad Financial 24 times. Now I have been told that they are not binded by the FDCPA however is it okay to say that these people can ring your phone all times of the day as much as they would like.

I have asked Triad if we can settle the account, being that when I purchased this car I was assured that I would be able to refinance the vehicle after paying at least 6 mos of payments. I did try to do that, however my 2005 Kia Amanti was the reason for the decline. The car's value has dropped from $30,000.00 to $9,750 Good condition in a matter of 3 years and then I am told by Triad that I still owe you $22,000.00. They refuse to settle the account. So back to this. The car is out for reposession they have went to my family's home, called my family telling them my personal business. I do understand that this is all apart of collections however is it truly okay to call me 24 times within 1 hr. So can someone please tell me what can I do about this. Yes I know give back the car and then they would probably sell the car for $5,000.00 and then come after me for the $17,000.00 balance. How is this fair. How can you take someone's vehcile mind you I have paid over $20,000.00 already and sell it to whomever. Why can't I pay $5000.00 to settle especially with the current market industry.
Mr. H.
Philadelphia, PA

H. a. y.
Philadelphia, Pennsylvania
U.S.A.

This report was posted on Ripoff Report on 03/19/2009 08:53 AM and is a permanent record located here: http://www.ripoffreport.com/r/Triad-Financial-Collector-Patrick-Johnson/Richland-Hills-Texas-76180/Triad-Financial-Collector-Patrick-Johnson-Harrasment-By-Triad-Representatives-Richland-435608. 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 3Consumer 0Employee/Owner
Updates & Rebuttals

#1 Consumer Comment

Unfortunately

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

You borrowed $30K, and that's what you promised to repay, plus interest (I was amazed that Kia even sells a car for $30K). The only way you're going to get out of this obligation is to either pay the remaining balance or declare bankruptcy. Anything else and they'll be chasing you for the balance, minus what they get at auction, for years to come. Everyone has reasons why they can't pay, but if banks wrote off car loans for a fraction of their value (as you propose), they'd be in worse shape than they are today.
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#2 Author of original report

Several More Phone Calls

AUTHOR: H. a. y. - (U.S.A.)

Just so that everyone truly understands what I am trying to do. Someone has to stand up to these banks. No one should have to be disrespected at any time because they were unable to pay their bill. Now ask me if I had known I was going to take a big lost with my job and income. No of course not I never thought this was going to happen.

I truly believe these banks can help by looking at their loss if they choose to repo the vehicle or what their loss will be if they would refinance the vehicle.

Now since I posted my last response I received another nine more calls even after I stated my intentions. So what do you do now. Just keep allowing people to harrass you. I know that there is a law to prevent this kind of behavior.
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#3 Consumer Comment

Here's why....

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

"..Why can't I pay $5000.00 to settle especially with the current market industry.."
- Because you made a legal obligation to pay what you BORROWED not what the CURRENT VALUE of the car is. A car is not an investment and will loose value. If every lender did what you are asking there would be NO loans because no lender do this when they are guaranteed to loose money.

Now, if you actually had done some research you would have found that KIA's are one of the worst cars to hold their value. For $30,000 you could have gotten a car from another company that still would have lost value, but not nearly as much.

If they Repo and sell it at auction, because KIA's don't have a lot of value you would be lucky to get $3,000 let alone the $5,000. But as you said you are still going to owe not only the balance, but any fees associated with the Repo and sale of the car, because it is a legal agreement you entered into. There is no incentive for the bank(and I mean any bank) to settle for a small fraction of the amount.

As to being able to refiance your loan. To be straight with you the dealer lied to make the deal. No bank(at least none I have ever seen) will refinance their own loan. Now, there is nothing that keeps you from trying to go to another lender but it by no means is guaranteed that you can refinance.
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