ED Magedson – Founder
GM Financial Bait and Switch...Agree to a settlement then change the rules Fort Worth Texas
I made a settlement agreement with GM Financial to payoff my vehicle. I received a settlement letter that asked for a specific amount to close the account and receive the title. I had a deadline to make the payment and no other stipulations were listed in the agreement. I advised my progressive insurance agent that I had a settlement and that I would be making a payment to get the title. My progressive insurance agent offered to make the payment for me so that I wouldn't have to spend any money out of pocket. I agreed and allowed progressive to send the payment on my behalf. Once the settlement amount was received GM Financial applied the amount as a payment towards the full balance instead of using the payment to satisfy the settlement. When asked why GM FInancial stated because the check came from progressive and not myself. This was never explained during the settlement agreement nor was it outlined in the contract that the funds had to come from me directly. GM Financial has now cashed the check from progressive and is refusing to honor the settlement offer or refund the money.
This report was posted on Ripoff Report on 04/15/2014 11:41 AM and is a permanent record located here: http://www.ripoffreport.com/reports/gm-financial/nationwide/gm-financial-bait-and-switchagree-to-a-settlement-then-change-the-rules-fort-worth-tex-1139022. 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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