ED Magedson – Founder
WACHOVIA DEALER SERVICESPO Box 25341 Internet United States of America
Wachovia Dealer Services operates with the most unethical unprincipled business practices of any lending company I have ever financed with. They are inept at accounting and record keeping. I complied with all their requests for insurance verifications over the course of 5 months to only be ridiculed harassed, badgered and threatened by the robotic slimy rude imbeciles that work for them. My breakthrough moment came from a three way conversation with the collection agent from Wachovia on the phone and a Wachovia insurance department representative that flat out stated we received the documentation but every time we call the company they put us on hold for too long so we hang up. How this company continues to operate on the blood sweat and tears of our tax money and how their employees lay their heads on their pillows at night is beyond me.
I was in possession of a luxury vehicle and due to illness was approaching being two months behind on payments with intent to pay one lump sum within 7 days of the day I looked out my window to see the rude when confrontedspastic cocained-out belligerent threatening private recovery company tow truck driver attempting to take my vehicle away minutes before I was leaving for work.
I empathize and understand that they are a business; their apathetic sentiment should be saved for truly negligent customers that perhaps are half a year or more behind. What exactly do they hope to accomplish by repossessing peoples vehicles and selling them at auction within days. No one has money in this economy to buy cars so ultimately they are screwing themselves out of the mob interest and investment interest they have made and stand to make from seizing vehicles in which the owners are a few months behind on payments. It makes no sound business sense unless they do which I believe have deals worked with private car lot owners to buy seized cars. When does the madness stop? How do we go about banding together and setting up reasonable collection practices for these institutions?
If you are considering financing with them I beg of you to reconsider. They are despicable.
This report was posted on Ripoff Report on 01/16/2010 12:25 PM and is a permanent record located here: http://www.ripoffreport.com/reports/wachovia-dealer-services/internet/wachovia-dealer-services-reposessions-internet-555524. 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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