NUVELL NUVELL AUTO THIEFS Bloomington Minnesota

It's very easy for an outsider to criticize you. They make agreements over the phone for extensions, then start charging you much more than was agreed to. This is their normal scam, and AG's all over the US should be ashamed for letting them continue to lie and steal. A smart lawyer could make alot of money by demanding their phone recordings. But maybe they destroy those right after the agreement. I know, it makes you literally sick, and they treat you like dirt. Just for treating a veteran like this they need to be sent to prison for life.

 Maybe some day we'll have politicians with integrity who will stop this racket. We bailed them out and they keep taking.

I'll pray that you receive justice.

couple of things...legally since you have a loan for the car, and it's not yours, they can pick it up if you're a day late...no need to send cure letters, that is a courtesy just like your bill. you know your due date.

as far as the interest thing goes...it sounds like you had a flexible finance plan(also known by daily accrual etc) this is where the interest is assessed daily...it would say in your contract(right around federal truth in lending disclosures). Nuvell is a high risk company so you were probably paying out the rear for interest. here is how you figure daily accrual, or per diem. take your principle balance...lets round to $15,000. multiply that by your interest which we'll say is 22%.

so far we have 15000x.22= 3300. since it's daily accrual you would divide by 365 which are the number of days in a year

so now we have 3300/365= $9.04. this is the amount your are getting charged daily. These accounts are good only if you are going to pay on time(every 30days), early(<30days) or are going to send extra amounts to go to principle....pay late and you're not going to save any money. So if you pay ontime your principle will go down reducing your per diem. Also remember that intrest is ALWAYS paid first regardless of contract....so if you ow $435 in per diem (in this case) for that month and you only send in a regular payment of lets say $350...nothing went to your principle and it will take you longer to pay it off.

on a personal note, you shouldn't be mad at the bank or nuvell in this case...they just approved the contract, they did not set up the terms...i would be mad at either your credit situation (seeing how they sent you to a highrisk company) or the dealer who stiffed you on the contract so they could make bank. Nuvell just wants the money they put in.

hope this helps.