I bought a car in 2003, because i did not have good credit, i went to jdbyrider, which i soon found was a mistake. The interest they said i would be paying was not what it actually was. I was told 19.9 percent, but it said in the paperwork almost 29 percent. The car was probably bought at an auction for about $1,000 and they put a price tag of about $5,000 on the car. My monthly payments were to be approximatly $379 if I remember correctly.
I had a hard time affording that. I became late with payments, and they called me at my place of employment, they harrassed me and embarassed me in front of my superviser. I told them to come and get it, that I didn't want it anymore. I simply couldn't afford it, what with full coverage insurance and all my other expenses. I was bad judgement on my part, i do admit. I thought i would be able to afford the car when i got it, but lost hours at work and i tried to explain my situation. After approx 6 months they came to get the car.
I saw that they were reporting the full purchase price on my credit report. I also know that they are not allowed to do that, not if they resold the car, which i am sure they did. If they sold the car for a lower amt than on my credit report they can only put the difference on my credit report. I disputed it with experian, and within a month it was taken off my credit report.
I encourage everyone to at least try this. I wrote on my dispute that i happen to know that they resold the car and that I can prove it. I hope this helps someone out there.