Amcore BankAmcore Bank N.A, Cheryl Fary bad business, crude, unwilling Rockford Illinois

Amcore isnt the geatest people to work with but if you strongly feel that this was unjust...

Contcat the Office of the Comptroller in Illinis, FINRA, BBB. You may find that other actions against Amcore have been filed.....

Can you see her point? Granted AMCORE isn't going to lose much sleep over 13,000 dollar loss if everyone were not to pay their loans they would begin to. They usually hear all sorts of explanations but did you go to them in the first place and try to work out alternative payments til you got back on your feet again. Did you communicate with them. Personally I found when I had problems when I went to the bank they tended to work with me as opposed to ducking out on them, for some reason they don't like that. They may think that you are trying to rip them off. Not saying that would be your intent. Just saying communication is the key.

Banks really do not like to do repo's (despite your impression that they did so completely out of spite). Now they have to sell off a car for more than its worth and the bad part is that they will turn around and ask you to make up the difference and pay them more for a car you don't even own anymore. Another thing that you will now have on your credit report as well.

I am sure that if you would have even made nominal payments they would have worked with you. Another alternative would be to get credit life or some other form of insurance. True it may sound like a ripoff (and if you don't read the provisions carefully could end up being one) but for the most part if you are injured and can't work or work as much the credit life can pick up the difference until you can pay or pay off the car in case something happens to you (that way your family won't be burdened with the debt).

From what I could tell from your last paragraph you obviously had a weak credit history (as well as your co-signer) that is the only reason for an interest rate over 13 percent. That plus the car was used right???? If you had a better credit history the most interest you would have paid would have been maybe 8 or 9 percent.

As far as the extra money to make it a 13,000 dollar car. Sounds like you had a trade in that you were upside down in. When they said we will pay it off did you honestly think that they were going to take money out of their pockets to do so???
I think not. They rolled the amount into the price of the car and may have even given you more value on the trade in to make it look better. I am sure you thought they were doing you a favor at the time.

Good luck Anthony. I hope you get better soon and back on your feet.

Look,

You opened up an account at AMCORE, you signed a piece of paper saying you agreed to the terms of the loan. You got the car, we paid for it. simple as that.

then you didn't pay for it. so we took it back.


uhhhhh... duh.

we didn't take advantage of you. we said, hey, if you want to get this car you pay us this much and we are willing to buy it for you and let you pay us back. this is a business agreement. you signed paper saying this is a-ok.

sooooo..... if you don't pay us back, of course we will want the car back. would you expect your landlord to say, hey ya know what... times are tough.. why don't you go ahead and not pay me rent this month? uhhh...no.

Okay, different example. You work, I'm assuming. Let's say its payday and your boss comes to you and says.... "times are tough so we only gave you 50% of your paycheck... we will give you the rest later, okay??" what would you do... say okay. and then no..... i doubt it.... i'm guessing you'd quit your job..... well, we "quit" our arrangement. same thing. we agreed to a service and you didn't put up your end of the deal.

i know at AMCORE you need to be at the very least 90 days late in order for us to repo your car. that's three whole months. Are you willing to take only a portion or none of your pay for 3 months.... didn't think so.

you say that we didn't make any arrangements, but since you did mention the name cheryl fay and i know for a fact that she works in the collections department, i know that we did.

so, your arguement doesn't hold any water.... you took the car... didn't pay for it... so we said give us the money or we take the car back. ummm... of course.