Complaint Review: Americredit Financial
- Americredit Financial
801 Cherry Street #3900
Ft Worth, Texas
- Phone: 800-284-2271
- Category: BBB Better Business Bureau
Americredit Financial Corrupt Financial Institution Ft Worth Texas
*Consumer Comment: what was your outcome to this date?
*Consumer Suggestion: contact an attorney
*Author of original report: Answers PLEASE
801 Cherry St. #3900
Ft Worth, TX 76102
On May 11, 2002 I purchased a 2002 Nissan Altima from Superior Nissan in City of Industry, CA.
My car was financed through Americredit Financial. The total amount financed was $22,000.00.
The contract was for 72 months and the payments were for $534.
From 2002 I faced some financial problems and I was contacted by the staff at Americredit Financial
who offered a deferrment. All I was told was that the payment I was behind in would be added to the
end of the contract. I figured it would extend my contract for an extra month. During the
this time I was granted 3 other deferrments. I was never told that the extensions were for 2 month
increments and that the loan would be refinanced.
I continued to make payments of $535. the following month after I had requested the payment to be deferred.
When I called to set up my monthly payment for December 2008 I was informed that my contract
would mature on February 15, 2009 and I still had a balance of $10,000.00 and $1,100.00 in late fees.
I requested a copy of my payment history and I added all the payments that have made and cleared
my bank and they total $39,113.00.
When I called on Friday, January 22, 2009 that is when I was informed by the customer service
representative that the extensions are granted at 2 months intervals even if I requested only for 1
month and that the loan balance was refinanced every time an extension was granted. I was never informed of this verbally nor in writing.
When I called to see what my options were all I was told was to trade in my car and have the balance added
to the new loan or refinance with another company.
I went to the same Nissan dealer to see if I could trade in my car and when I explained my situation to the sales
representative and his manager they said they had never heard of a company doing this. I started wondering
how could I still have a balance of $10,000.00 on a car that was financed for $22,000.00 and have paid close
to $40,000.00. I have paid doubled the amount of what my contract was for.
I have seeked legal advice and was told to contact your office first. I am about to suffer an nervous
breakdown due to this situation. How am I going to come up with $10,000.00 and risk my car being repossessed
if I don't pay.
I have contacted the Better Busniess Bureau in Ft Worth Tx and California. I don't know where else to go. I am desperate.
La Habra, California
This report was posted on Ripoff Report on 01/29/2009 10:30 AM and is a permanent record located here: http://www.ripoffreport.com/reports/americredit-financial/ft-worth-texas-76102/americredit-financial-corrupt-financial-institution-ft-worth-texas-417690. 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. Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report. READ: Foreign websites steal our content
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