Americredit Auto Finance EXTREMELY HIGH FINANCING RATE ripoff Fortworth Texas

I have been filing reports for awhile now about HellCredit.I have noticed that they have added a extra on the Soldier's Act law to keep them from giving the reduced interest rate.


"You are not eligible for a rate reduction under the SCRA if:

1. You were already a full-time (non-civilian) employee of the military when the contract was signed.
* Note: Deployment is not a factor for SCRA eligibility."


That is a bunch of trash and makes no sense at all.What difference does it make if you were already a customer verses being a new customer when you are fighting the same war?

Like I have stated before,HellCredit has me paying 7 more months extra for deferments that I did not sign nor authorize.The contract states that HellCredit would have to send me a notice with my signature stating that I have understood all terms.I was not sent one and for the last few years I was not sent a monthly statement.After the agency which regulates HellCredit requested the authorization form,HellCredit produce a monthly statement that said at the bottom "Thank you for your deferments".

I have never seen these before and even sent them bank statements showing that the months that they claimed were deferred,I sent them payments.Now after I pay for 6 more months,they are claiming I will owe another 2500 more for interest.I am literally afraid to send any large payment because they will pretend to lose the payment in the mail.I dont have all the proof from some of my payments because they would not accept anything but Western Union at times.

Darick (you all remember him don't you?) pointed out that his payments were being applied mostly to the interest and only a little to the principle.

This is the way an installment loan works. In the early stages payments are almost entirely applied to the interest and it does seem that you will never make a dent in the principle. It makes little difference what the interest rate is.

The solution to this problem is to pay an extra amount each month to be applied to the principle. Even an extra $25 on each payment will shorten the time required to pay off the loan and lower the amount of interest that you ultimately pay. If you do this, however, you need to make it clear to the lender that the extra amount is to be applied to the principle and not to the next month's payment.

Darick also indicated that he was surprised at the details of his loan. Sorry, but there is no excuse for not reading the terms of a loan before you sign the contract. The important stuff -- amount financed, interest rate, monthly payments, total due -- are almost always printed in large bold letters so they are impossible to miss. If you are a big enough to sign contracts you ought to be old enough to know how to read them.

I was not being rude and dont see how using caps can get you so defensive, but sorry about that.
I and my husband both explained in detail about this problem. Our reports started back in November and also there are several rebuttals afterward saying the same thing over and over and over again. Once again sorry if you think I was screaming at you, because when I use caps, I dont think of it as screaming, and didnt realize someone would take offense to caps, but guess it is hard to read.....
I have made several very extensive reports on here and my husbands was very detailed also.
But anyway, thanks for the insight.

Rachel,

I know you are upset, but PLEASE learn to turn the caps off, and to use sentences and paragraphs and puctuation, etc..

USING ALL CAPS IN A NEVERENDING SENTENCE is very rude and hard to read.

Forget small claims court, your damages exceed what you can get there. You need to get a trial lawyer who has experience in FEDERAL court, as the damages you are seeking are for a violation of your rights under a federal law.

You will more than likely win very easily if you have all documentation and witnesses, and could get punitive damages as well.

And, the questions I asked WERE NOT covered specifically in your prior posts as you claimed. If they were, I would have not asked the questions. Your post was vague as to specifics.

Good luck.

Isnt it funny Sherri, how Pete knows so much about our business. Guess he doesnt know I havent had credit cards to max out since my husband lost his job after 9/11. My car wasnt new either.
He is just one big jerk and he should work for Americredit. He would fit right in with the rest of those jerks. I can understand how anybody can fall on hard times and sometime in everyone's life they will probably see a hard time or two.
Since my husband lost his job after 9/11, he lost his retirement, so that is why he chose to re-enlist in the military to get some kind of retirment coming in. In 1997, jerk Peter, I was pretty well stable in my finances, but my youngest brother was terminally ill and lost his job and his disability took over a year to be approved and in the meantime, big Sis took him in her home and supported him and paid his car off for him. Then, had to help him with meds and so on. Guess a big jerk like you cant understand compassion and how it is to help someone. My brother died in my home with me holding him in my arms. I have his death certificate in case you need to see it.
It cost us alot of money to help him but I would do it all again because you cant put a price on love....... So those big savings you speak of can get gone real quick when sickness comes your way. Oh I could have stuck him in a home somewhere and just let him rot until he died, but that is not my style. Sometimes our blessings come after this life, and we just have to endure the hard times on earth, but that doesnt mean we are going to be cheated on and charged ridiculous charges that we dont owe. ... My Brother and I are in a book and the title is Angels in our Midst, so until you have walked in my shoes and suffered hardships in your life, dont you dare say one thing about me or other people going through hard times. You can peddle your crap somewhere else, because I am not putting up with your insults and accusations when you know nothing about what you speak of. EVERYBODY WHO HAS A CAR REPOED IS NOT A LOWLIFE AND DOES NOT DESERVE IT. SO , YOU GET A LIFE AND STAY OUT OF MINE....... I have suffered way more hardships than you will ever know and they dont all involve a car..... Did my Mom die when I was five because my savings account was not up to par. did my daughter's twin die at birth, because my savings account wasnt high enough,
????// Guess Peter has ALL the answers

Steve,
Responding to your response, concerning you bet I just notified them in writing, about the SSCRA. WE STARTED MONTHS BEFORE MY HUSBAND LEFT FOR KUWAIT. I HAVE OVER 100 EMAILS, OVER 20 FAXES, TO EVERY DEPT. AT AMERICREDIT, CERTIFIED LETTERS AND ALSO LETTERS FROM THE JAG IN KUWAIT AND ALSO THE PENTAGON. I FAXED, RE-FAXED, CALLED, CALLED AGAIN, AND I HAVE BEAT THIS HORSE TO DEATH IN SEVERAL REPORTS ALREADY. THEY REFUSED TO ACCEPT HIS MILITARY ORDERS WHICH DUH, COME FROM THE GOVERNMENT............ YOU CANT LOSE 20 FAXES AND OVER 100 EMAILS AND YES, WE SENT CERTIFIED LETTERS WITH REAL LIVE SIGNATURES AND WE WENT THROUGH EVERY PERSON IN HENDERSONVILLE AND WERE EVEN REFERRRED TO THE LEGAL DEPT. YOU HAVE NO IDEA THE HELL I WENT THROUGH BEFORE AND AFTER MY HUSBAND LEFT. MY HUSBAND EVEN EMAILED THEM FROM KUWAIT, LIKE HE HAD NOTHING BETTER TO DO AND WHEN AND ONLY WHEN WE INVOLVED THE PENTAGON, DID AMERICREDIT EVEN ACKNOWLEDGE THE SSCRA for 6 PERCENT INTEREST RATE. WE SENT THEM COPIES OF THE SSCRA AND EVERYTHING THEY SAID THEY KEPT LOSING. I ALSO MAILED, REMAILED, FAXED, RE-FAXED COPIES OF HIS MILITARY ORDERS AND MY POWER OF ATTORNEY WHILE HE WAS GONE. THEY REFUSED TO EVEN ACKNOWLEDGE MY POWER OF ATTORNEY. STEVE, YOU ARE NOT DEALING WITH THE AVERAGE COMPANY HERE. THESE ARE LOWLIFES WHO PURPOSELY MAKE THINGS HARDER FOR YOU AND THEY HAVE NO RESPECT FOR SOLDIERS OR FOR THE GOVERNMENT FOR THAT MATTER. THANK GOD MY GOOD FRIEND WORKS AT A BANK AND SHE WOULD KEEP REFAXING THIS INFO FOR ME AND SHE KEPT TRACK OF ALL THE CONFIRMATION NUMBERS THAT SHE GOT EVERYTIME THEY WERE FAXED. EVEN HER BOSS SAID THESE PEOPLE ARE RIDICULOUS AND ARE PURPOSELY DOING THIS TO HARASS US. MY HUSBAND HAD TO SEND THE LETTER FROM THE JAG SEVERAL TIMES AND I CAN TELL YOU, THE JAG WAS NOT HAPPY WHEN THEY WERE IGNORING THE FIRST ONES. WE HAVE EMAILED CEO'S OF THE COMPANY, CUSTOMER SERVICE REPS, COLLECTION REPS, YOU NAME IT AND WE HAVE TALKED TO THEM AND EMAILED THEM AND FAXED THEM INFO. WE ARE VERY WELL AWARE OF THE SSCRA AND THAT IS WHY WE HAVE SOUGHT LEGAL HELP. NOW WE ARE FIGHTING THE JERKS BECAUSE THEY WENT BACK AND ADDED THE INTEREST RATE BACK THAT WAS FINALLY REDUCED. IT TOOK MONTHS TO EVEN ACKNOWLEDGE THIS AND AS I HAVE STATED OVER AND OVER, WHEN AND ONLY WHEN WE INVOLVED THE PENTAGON AND OUR SENATOR FROM OUR STATE, DID THEY STAND UP AND TAKE NOTICE. THIS COMPANY IS NOTHING BUT A BUNCH OF CROOKS AND THAT IS ALL THEY WILL EVER BE., I AM CONTINUING TO SPREAD THE WORD AND TELLING ANYONE THAT I KNOW TO PLEASE NOT USE THEM, UNLESS YOU LIKE MAKING THESE CROOKS RICHER. I WISH SOMEONE HAD WARNED MY HUSBAND BEFORE HE TOOK THE LEAP. WE ARE TRYING TO GET THE MILITARY TO SPREAD THE WORD, SO AMERICREDIT WILL BE PUT ON THE BLACK LIST, SO SOLDIERS WILL NOT USE THIS COMPANY ANY MORE.
ALSO THE SSCRA DEPT OF AMERICREDIT EVEN PLAYED THE SAME GAMES WITH US OVER AND OVER. THEIR PURPOSE IS TO KEEP REFUSING TO DO THIS, SO THEY CAN ADD MORE CHARGES AND SAY WELL THEY DIDNT MAKE THEIR PAYMENTS AND THEIR PAYMENTS WERE SHORT AND SO ON AND ON. IT IS ALL A SICK GAME AND JUST A PLOY FOR AMERICREDIT TO MAKE MORE MONEY. DONT KID YOURSELF OUT THERE IF YOU THINK THEY LOSE MONEY WHEN THEY REPO A CAR. THEY LOVE REPOING CARS, BECAUSE THEY HAVE ALREADY SUCKED YOU DRY BEFORE THEY EVER REPO IT WITH ALL THE TRUMPED UP CHARGES THEY APPLY. JUST LOOK ON THEIR WEBSITE AND SEE WHO MUCH STOCK THEY DONATE TO THEIR OWN FAMILY FUND AND YOU CAN READ ABOUT THEM AND THEIR UNDERHANDED SCHEMES TO SELL AND RESELL STOCK ILLEGALLY. MY SOCIAL SECURITY CARD WAS STOLEN OUT OF THE VEHICLE WHEN REPOED AND OTHER ITEMS WERE STOLEN ALSO. WE PAID 50 DOLLARS TO GET OUR PROPERTY BACK AND AMERICREDIT TRIED TO SAY IT WAS THEIR PROPERTY. THE POLICE KINDLY TOLD ME THAT ANYTHING INSIDE THE CAR THAT WAS PERSONAL, DID IN NO WAY BELONG TO AMERICREDIT. ONCE AGAIN, THEY BREAK THE LAW EVERY WAY YOU TURN. I HAVE TURNED THEM INTO THE FRAUD DEPT FOR SOCIAL SECURITY AND ALSO TO THE FTC, THE ATTORNEY GENERAL, US. SENATOR, AND THE PRESIDENT OF THE UNITED STATES.
I COULD WRITE A BOOK ON THE PROCEDURES THAT THEY USED TO ILLEGALLY TRY TO HOLD MY PERSONAL PROPERTY . MY HUSBAND HAD TO THEATEN THEM WITH HOMELAND SECURITY TO GET THEM TO RELEASE HIS MILITARY STICKER OFF OF THE CAR. THESE PEOPLE THINK THEY ARE ABOVE THE LAW, BECAUSE THEY DO THIS STUFF TO CUSTOMERS AND CALL IT LEGAL.
WE ARE TAKING THE REPO COMPANY TO SMALL CLAIMS COURT FOR THEIR ILLEGAL PART IN THIS DRAMA. OUR CAR WAS RAMSACKED AND MY DAUGHTERS CD'S WERE STOLEN AND SHE HAD A SPEECH SHE HAD WRITTEN AND WON A TROPHY FOR. THE TROPHY WAS BROKEN IN HALF AND HER SPEECH WAS STOLEN, ALL THREE COPIES OF IT.
AMERICREDIT MAY OWN THE VEHICLE, BUT THEY DO NOT OWN OUR PERSONAL PROPERTY. THE ASHTRAY FROM THE CAR WAS THROWN INTO THE GARBAGE BAG THAT THEY HAD MY BELONGINGS IN AND MY EARRINGS WERE STOLEN OUT OF THE ASHTRAY, ALONG WITH MY BILLFOLD THAT HAD MY SOCIAL SECURITY CARD IN IT. WHEN WE CALLED AMERICREDIT ABOUT THIS PROBLEM,THEY SARCASTICLY RESPONDED WITH IT WASNT THEIR PROBLEM AND THEY DIDNT EVEN CARE. THEY SAID IT WAS OUR PROBLEM. WHAT A BUNCH OF SMART SASSES........ WHEN MY HUSBAND EMAILS THE CEO'S WITH QUESTIONS, HE GETS THE RESPONSE BACK THAT DOESNT HE HAVE SOMETHING BETTER TO DO????// ONCE AGAIN, SMART SASSES.
I COULD GO ON AND ON AND UNTIL YOU HAVE LIVED THIS NIGHTMARE, YOU HAVE NO IDEA WHAT AMERICREDIT IS CAPABLE OF DOING. BESIDES THE DRAMA OF LOSING THE CAR, WE HAD PROPERTY STOLEN AND OUR PERSONAL PAPERS STOLEN OUT OF THE GLOVE COMPARTMENT. EVEN OUR CONTRACT WAS STOLEN AND AMERICREDIT REFUSES TO SEND US ANOTHER ONE.
MY CONTACTS WERE STOLEN ALSO AND OTHER THINGS WERE BROKEN. THE LIST GOES ON AND ON AND WE WERE TREATED LIKE A BUNCH OF CRIMINALS AND THIS IS WHAT I AM THE MOST UPSET OVER. THERE IS NO NEED FOR THAT KIND OF TREATMENT. IF YOU HAVE TO GET YOUR CAR, THEN FINE, BUT DONT STEAL PROPERTY OUT OF IT AND CALL IT LEGAL. MY 12 YEAR OLD TOOK IT REAL PERSONAL WHEN HER PROPERTY WAS STOLEN AND HER THINGS WERE BROKEN AND SO DID WE. BABY PICTURES THAT CANT BE REPLACE WERE TAKEN FROM THE CAR. YOU KNOW A CAR CAN BE EVENTUALLY REPLACED, BUT PERSONAL ITEMS CANNOT. I CAN ASSURE YOU THAT MY 12 Year old knows exactly what items she had in the vehicle and exactly what items are missing.
We were told to call the Auction Place where the car was taken to see if they could find the missing items that we had already paid 50 dollars for. When we called them, they said oh Americredit owns eveything in this car and the vicious circle goes round and round. RIght now I am filing against Complete Asset Recovery, who were hired by Americredit, and Adesa Auction , whom sold the car and charged me 179 dollars but refuse to send me an original bill. Just made up an amount and expect me to believe it.
Good luck to anyone out there, who is going through the same thing, and please keep a record of names, times ,dates and so on. It will help you for future use. Thank God we saved everything.

Peter,

You sound like such a jerk about everything! YES, we DID have money in savings, but when you lose a job, that too, is greatly depleted. My husband was working and I kept children in our home for over 10 years, but we weren't Quote: "maxing out credit cards" and living high on the hog! No, we did buy a house. Not a new house, but one that was about 5 years old. But, we lost that when he lost his job. We could no longer afford the payment. I hope to hell that you NEVER have to go through some of the HELL that we have been through in our lives! And I am SURE that you have NEVER had credit cards and that you have a hefty WAD of money in a savings account. Just because people have money in savings...It doesn't mean that it will last forever and just sit there if those proverbial rainy days come!

So, get a life and quit judging those of us who have had severe hardships in our lives. You don't have a clue what you are talking about!

What I said and you completely turned it around sideways and upside down was: We bought our car and have a $350 payment..but, when you are unemployed, have depleted ALL of your savings trying to feed and provide for your family, you can't make those payments....Mind you unemployment doesn't last forever! After so many weeks, it stops and re-starts a month or so later.
The job market changed drastically after 9-11. Rachel even said that in her report. My husband was offered several wonderful HIGH paying jobs, but nothing panned out when these jobs were put on hold. He was spending EVERY day, ALL day trying the best that he could to find other jobs. I was keeping children whenever needed. It didn't pay a fortune, but I fed our family with that money. You do whatever you have to do to try to make it!

Who are you to judge us? Answer that one for all of us who have posted here!

Sherri, did you make any attempt while 'so here you are living comfortably and making your car payments, house payments, etc.', to put anything aside for that proverbial 'rainy day?' When you had it, you spent it--all. When people max out credit cards, finance a new car, etc., they see nothing but sunny skies. But there comes a time when the piper must be paid and usually at very high interest rates.

Sherri, did you make any attempt while 'so here you are living comfortably and making your car payments, house payments, etc.', to put anything aside for that proverbial 'rainy day?' When you had it, you spent it--all. When people max out credit cards, finance a new car, etc., they see nothing but sunny skies. But there comes a time when the piper must be paid and usually at very high interest rates.

Sherri, did you make any attempt while 'so here you are living comfortably and making your car payments, house payments, etc.', to put anything aside for that proverbial 'rainy day?' When you had it, you spent it--all. When people max out credit cards, finance a new car, etc., they see nothing but sunny skies. But there comes a time when the piper must be paid and usually at very high interest rates.

Sherri, did you make any attempt while 'so here you are living comfortably and making your car payments, house payments, etc.', to put anything aside for that proverbial 'rainy day?' When you had it, you spent it--all. When people max out credit cards, finance a new car, etc., they see nothing but sunny skies. But there comes a time when the piper must be paid and usually at very high interest rates.

Maybe this should be looked at from another perspective from someone like Rachel who has "been there and done that".

Sometimes, people cannot help their situation and must live with what life tosses their way.

Like our situation. My husband has lost 4 JOBS, yes 4 jobs, in the past 5 years not because of being fired, but because of government lay offs
and companies not being awarded contract renewals etc. (We also lost our house because the attorney "forgot" to turn in paperwork on time to save our home from foreclosure. When we get $5000 to pay for an attorney, that will be another story. Not our fault, but we have to live with that too. I guess after a while, it is fair to say that you get tired of being screwed left and right!) Government contractors often DO NOT offer severance pay so here you are living comfortably and making your car payments, house payments, etc. and all of a sudden "BOOM", like a ton of bricks you are hit with hardships that you never dreamed would happen to you or your family. So, all along you were making a $350 or more car payment and suddenly, you are faced with having to live on unemployment which caps out at $275 a week...So, let's see if you make $1100 a month and you have a $350 plus a mortgage or rental plus utilities and kids to feed and clothe, etc. and so on...How the heck do you squeeze money out to make that payment? There is just no way to make ends meet. (Plus, for me, my son has a form of autism plus depression and things have been extremely difficult.)

But, Americredit has informed me that
Quote: "Well, you didn't have any problem making the payment when you first got the car." Yes, that may be true, but with a drastic reduction of income and children to feed and clothe, you can only do so much. They WILL NOT re-finance or lower your payment. So, you are just stuck. If you can't make the payment that's just too d**n bad because they will call you and your family day and night non-stop and bang and beat on your door and threaten to tear the garage door off of the hinges to get to your car which probably isn't even worth what you are having to pay for it because you had to get a loan from such a wonderful and professional company such as Americredit. They even told a friend of mine that they didn't care if we had had a hurricane here, they wanted their payment. (Mind you we had no electricity or water for about a week and some people were worse off than that!)

So, try to see things from a different light. We are not just sitting here holding a wad of money in our pockets refusing to make a payment. Most of us have suffered extreme hardships that make it very difficult for us to take care of our obligations and because of some of these unforeseen hardships, we have to put up with these finance companies and their crookedness, unfortunately.

Rachel, I would be more than happy to go in the courtroom with you. You and your family have been through pure Hell! Best of luck to you and thoughts and prayers too.

Darik, Best wishes to you and hope that things get better. I am on your side too!

God Bless!

Did you have that loan established with AmeriCredit BEFORE your husband was DEPLOYED on ACTIVE DUTY?

Also, the law you are speaking of is now, and has been for a while, the "Servicemember's Civil Relief Act" [SCRA].

When you asked for the rate reduction to 6% as per the law, did you do it in WRITING? I bet you did it over the phone.

You still have recourse, and if you prove you legally made the request, they will have to backdate and recomute the interest and credit your account.

Her is where you can read the entire act and learn about enforcement:
http://usmilitary.about.com/od/sscra/l/blscramenu.htm

DARIK,

Americredit is in the loanshark business and unfortunately most people learn the hard way. In our case, we were told by the dealer(another Liar) that after 6 months we could refinance with no problem. What they and Americredit fail to tell you is that this will never happen, because Americredit is nothing but a liar also.

We were not familiar with Americredit at the time, so we got screwed also. I have spread the word and also stopped a friend from using them when she was trying to purchase a car this past week. She told the dealer straight up that she did not want Americredit if that is all they had to offer. They used someone else for her and this is how you stop others from being screwed.
SPREAD THE WORD............ She didnt have credit and so it is as hard for someone like that as it is for someone who has filed bankruptcy in the past.

We had ended up with them from where my husband has lost his job after 9/11 and I would walk before I ever use them again or recommend them to anyone. We are taking them to court because of all that has been done to us and before any of you big mouths out there want to start on me, I have all documents to back up what has been done to me and to my family. Starting with my Senator all the way to the Pentagon.

These people are crooks and they dont have to go to the measures that they do, to finance cars for people. They write their own rules as they go along and lose the most payments of any business that I have ever seen. They refuse to acknowledge faxes, emails, cerified letters and then when you get the government involved, they act like they are so innocent of any wrong doing.

Loanshark Liars of America should be there name. I am ashamed to even have the word America associated with such crooks. My husband is a United States Soldier and he is proud to serve his country and Americredit Crooks treated him like he was a piece of garbage.....Deliberately ignoring his SSCRA for reduce interest rate. Then had the nerve to add it back on, when they know the law states they cannot do this. We cant wait to get them in front of a JUDGE......

ALL THEIR CEO'S are a bunch of lawyers , so they think the law doesnt apply to them. I have never seen a more arrogant, crooked bunch of people at one company.

Hope they are shut down real soon.........

Your interest rate is directly tied to the level of risk on your loan. There is not one interest rate for everyone.

More than likely you have terrible credit or no credit at all if you are paying 22%.

The high rate covers the losses they incur in high risk lending.

Why did you sign the contract if you didn't like the terms?

And, if you thought you could get a better rate somewhere else, why didn't you get up and leave.

Where is the Rip-Off here?

I don't get it.

Your interest rate is directly tied to the level of risk on your loan. There is not one interest rate for everyone.

More than likely you have terrible credit or no credit at all if you are paying 22%.

The high rate covers the losses they incur in high risk lending.

Why did you sign the contract if you didn't like the terms?

And, if you thought you could get a better rate somewhere else, why didn't you get up and leave.

Where is the Rip-Off here?

I don't get it.

Your interest rate is directly tied to the level of risk on your loan. There is not one interest rate for everyone.

More than likely you have terrible credit or no credit at all if you are paying 22%.

The high rate covers the losses they incur in high risk lending.

Why did you sign the contract if you didn't like the terms?

And, if you thought you could get a better rate somewhere else, why didn't you get up and leave.

Where is the Rip-Off here?

I don't get it.

Your interest rate is directly tied to the level of risk on your loan. There is not one interest rate for everyone.

More than likely you have terrible credit or no credit at all if you are paying 22%.

The high rate covers the losses they incur in high risk lending.

Why did you sign the contract if you didn't like the terms?

And, if you thought you could get a better rate somewhere else, why didn't you get up and leave.

Where is the Rip-Off here?

I don't get it.