GMAC Finance Auto Division Collateral Protection Insurance Charge **FRAUD** Knoxville Tennessee

I just recently paid off my 2003 Chevy Tracker financing. It was a 5 year 0% interest loan. The pay off was 2/19/08 and what should appear in my mail box a few days later was a 'nice' letter from GMAC in Knoxville, TN that said I still owed 48.43 for 'Collateral Protection Insurance' on the Tracker. I was shocked. I have my financing paperwork and all the payments were drawn as they should have been, including the last on 2/19, and nowhere does it state ANYTHING about Collateral Protection Insurance.

I didn't open the letter until very late Friday night, so I spent the weekend trying to figure out what kind of rip-off GMAC was pulling. I have had the Tracker fully insured since purchase, with GMAC Insurance I might add.

Monday morning found me on the phone with the Knoxville, TN office. I spent 10 minutes (I have a timer on my phone at work) on hold until I got Tammy, who referred me to another 877 number. I called that one and spent 7 minutes waiting to speak with Alice, only to find out the second number was to the LEASING arm of GMAC Finance Auto Division. I call back the original 866 number and speak with Andy where he confirmed that my Tracker was uninsured from 1/14/05 to 2/14/05. When I protested that it was impossible, I was rudely told that it was my responsibility to see that GMAC Finance was a secured party in case the truck was totaled in an accident.

I pointed out that I have carried continuous insurance coverage since purchasing the truck in December 2002. Andy wasn't interested. I had to come up with the GMAC Insurance Declaration for 2005 to prove it. By this time I was on my last nerve.

1. My insurance policy coverage runs from November 14 to November 14 and, with the exception of 2006, I have paid the premium IN FULL in October. Where did GMAC Finance lose the information for 1 month out of 12?
2. I don't keep my insurance declarations from old policies. Insurance companies are the worst tree killers in history and my files would be groaning under the weight of old declarations.
3. Why can't GMAC Finance and GMAC Insurance talk to each other? How come I have to prove I was insured?

At this time I am waiting for GMAC Insurance to send me the CORRECT (They sent me the current one which I have in duplicate somehow) declaration so that I can prove I was insured during the disputed time.

I can only assume that GMAC Finance, since they didn't make any money over the life of MY loan, is trying to fraudulently squeeze an extra dime or two out of me.

JJ
Redford, Michigan
U.S.A.