State Farm Bank, N.A. Highly Unethical Loan Practices Nationwide

 Imagine that you are a borrower looking for a car loan.  You sign a legally binding agreement that says you will make 60 payments for a specific amount on specific dates with no conditions where you only had to pay when you could.  Where if you fail to make a payment you give them a legal right to reposess the vehicle.  Now, let us fast forward to the 60th payment, where you on your own decide that they have enough money right now so you are allowed to just change the terms at your discression. 

When you talk about ethics, who is less ethical.  The one who is holding up their end of the contract by doing exactly what they agreed to do or the one who is trying to change it at their discression?

Now, I bet you could have gotten the money somehow.  You just CHOOSE not to, figuring you could gamble with your car.  After all I know in your mind you figured...they wouldn't reposess a car for a single payment would they?  Well you found out the answer when you gambled and lost.

I also bet that your car was not just a little late.  That is I doubt your payment was due on the 1st(for example) and it was reposessed on the 2nd.  My guess is that they waited at least 30 days.  So if you were willing to split the payment..that would have been easily done in that 30 days.  Of course if it was reposesssed sooner..how about posting a copy of the bill and paperwork you got from the repo, showing how delinquent you were when they reposessed it.

I think you are commenting on the wrong report.  I have no idea what $700 deposits have to do with this.

 Once you paid the deposit, it was taken off of the market. Meaning it was held for YOU once you paid. Sorry but it is what it is. Perhaps next time you will read your paperwork more fully before dropping $700. If you had not changed your mind AFTER giving the deposit you wouldn't be in this situation.

Most lenders would have done the same thing...so,, what's the Ripoff?