Navy Federal Credit Union (NFCU) NFCU coerced me into obtaining a fraudulent protection plan for my car loan and demands continuous payments for the plan even after I canceled it. Merrifield Virginia

First off I can say that I have worked for this company for 4 years and I understand there are many channels you have to go through when it comes to specific things. That unfortunately is what you get when your dealing with the largest credit union in the world!!! But...it sounds like after you were told the payment protection plan you accepted didnt cover you, you got upset and decided not to pay your loan at all.

The protection you choose which is option C is for life, disability and unemployment. If you choose any of these options which are provided through CUNA Mutual you the member will be given a disclosure about how you qualify. By signing the loan documents either at a branch or that are sent to you by mail you are by law taking responsibility for the loan. The disclosure should also state if can be added or canceled at anytime! I can also tell you that for option C it's only $1.72 per every one hundred dollars you barrow so unless you had a $50k dollar car were taking a couple hundred dollars at the most.

What I find interesting though is that you make the comment about NFCU wanting you to make the protection plan payments. NFCU is a credit union. We do not make you pay interest or protection up front, it is accumulated over the life of the loan. So if your loan for example is $500 dollars for 6 months, and your protection and interest charge is $25.00 for the whole loan the total $525 dollars would be distributed over 6 months meaning the interest and protection are charged on a daily basis and added to your monthly loan payments, there is no seperate payment.

This is important so if you pay off the loan early you dont pay the full amt of interest or protection you didnt accumulate that was projected on your loan paperwork. And one other point I'd like to add is that when you call to cancel the protection all we do is click a few buttons and it's done...filing a claim takes longer but if you called to cancel it, it most certainly would have been done right away, and you as the mbr would get conformation mailed to your address. Instead of calling the number in Virginia why dont you try calling the call center in Great Lakes Illinois takes 1/4 the amount of calls that the call center does in Virginia. Explain what is going on and see what they can do.

Sounds like you got credit life on the loan. Usually covers you if you get sick and are unable to work, if you get layed off, or if you die your heirs don't have to pay off your remaining car loan.

If you "QUIT YOUR JOB" you are out of luck. If you read the paperwork you will see that you can only use this if you are involuntarily layed off (sometimes being fired does not qualify for this either).

Sounds like you are a scammer and signed up for this to see if you could have your car payment covered which needless to say they did not fall for it. You might want to reconsider this suing stuff. You could find yourself on the other end of a fortuitous lawsuit.