ED Magedson – Founder
State Farm Bank, N.A.Nationwide USA
State Farm Bank, N.A. Highly Unethical Loan Practices Nationwide
Imagine taking a car loan for 60 months. Now imagine having a financial catastrophe happen to you toward the end of that loan. You manage to make almost all of the final payments but you just can't make that last one. You have made 59 of 60 payments. The bank has all of what it loaned you and the vast majority of the interest owed. You call them and explain your situation. You ask for help. Can you split up the payment? Can SOMETHING be done. Your pleas fall on deaf ears and they re-posess the car, making your financial situation that was bad now even worse.
Imagine that. Over ONE payment. The FINAL payment, they take your car.
Think about that the next time your State Farm agent offers to arrange financing for your car.
This report was posted on Ripoff Report on 06/29/2014 01:20 PM and is a permanent record located here: http://www.ripoffreport.com/reports/state-farm-bank-na/nationwide/state-farm-bank-na-highly-unethical-loan-practices-nationwide-1158326. 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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