Complaint Review: Household Automotive Finance co. - Oaks Pennsylvania
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- Author Not Confirmed
- Household Automotive Finance co. PO BOX 603 Oaks, Pennsylvania United States of America
- Phone: 1-800-282-2644
- Web: WWW.MCMPAYMENTS.COM
- Category: Collection Agency's
Household Automotive Finance co. MCM OR Midland Credit Management,Inc. charged me $9,968.45 for a vehicle I can not even have. Has been sold to another individual. Oaks, Pennsylvania
*Consumer Comment: Nice Try..
*General Comment: no rip off
Show customers why they should trust your business over your competitors...
I RECIEVED a payment demand letter from MCM Midland Credit Management,Inc. with 3 options to pay for a vehicle that was already sold to another individual.So my complaint is why am I paying for a vehicle I can no longer get.This tells me that Household Finance is getting paid twice for the same vehicle.My account #for this co.is xxx7356 $9,968.45 would have been the amount that they wanted.THIS IS A TOTAL RIP OFF if there ever was one!!!! I understand my obligation to pay for the vehicle but I now have nothing to show for it.This can not go on any more by these BIG car companies and the financial companies associated with them.
This report was posted on Ripoff Report on 09/19/2010 01:06 AM and is a permanent record located here: https://www.ripoffreport.com/reports/household-automotive-finance-co/oaks-pennsylvania-19456/household-automotive-finance-co-mcm-or-midland-credit-managementinc-charged-me-99684-642049. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year. Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report. READ: Foreign websites steal our content
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#2 Consumer Comment
Nice Try..
AUTHOR: Robert - (U.S.A.)
SUBMITTED: Sunday, September 19, 2010
I understand my obligation to pay for the vehicle
- It isn't quite that simple. When you get an Auto loan you made a legal agreement to pay back the money borrowed. Even if you no longer have the car, for what ever reason, you are required to pay the balance of the loan. It does not matter if it was stolen, reposessed, or totalled in an accident. This would be the same for every car loan.
There is one item that is a bit confusing. Just how did this car get "sold" if there was a balance owed on the loan?
#1 General Comment
no rip off
AUTHOR: debtexpert - (United States of America)
SUBMITTED: Sunday, September 19, 2010
What they are asking you to pay for is the LOAN you took out to get the car, not the car itself.
Since you say the car was sold to someone else I assume you meant it was repoed and auctioned off to another individual. What this company did is take the amount they got at the auction for the car and took it off the balance you owed on your loan.
You still have to pay the loan off. I have dealt with this issue several times and I know for a fact that every one of the dozen pieces of paper you had to sign when you got the loan for the car said even if it goes into repo, you are obligated to pay off the remaining amount of the loan. They would NEVER have given you that loan if you did not sign that agreement.
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