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Report: #340081

Complaint Review: Triad Financial Corporation - Palatine Illinois

  • Submitted:
  • Updated:
  • Reported By: Killeen Texas
  • Author Confirmed What's this?
  • Why?
  • Triad Financial Corporation DEPT CHI10104 Palatine, Illinois U.S.A.
  • Phone: 800-879-9756
  • Web:
  • Category: Loans

Triad Financial Corporation Incorrect Reporting to My Credit Report and Refused to take Payoff of Vehicle Palatine Illinois

*Consumer Suggestion: We are talking about TRIAD ,I myself know they made many mistakes on my loan.

*Consumer Comment: Bring your account up to date.

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I recently started a search for a new vehicle. I planned on trading in my current vehicle which is financed by Triad Financial Corporation. When the dealership called to get the payoff to cut them a check, they refused it, stated that the vehicle was charged off and that they were looking for it. This is all a lie, we were surprised that they would not take the buy out no matter what status the account may have been in as if they truly wanted the money or the vehicle - more than likely the money they would have given a pay-off amount and the difference would have been charged back to me.

They have been very rude and uncooperative. I pulled my credit reports and it just so happens that the day we contacted them is the same day they posted a charge-off to my credit report.

The other issue is that they are still taking monthly payments of which I have cancelled checks for. I admit I missed two months payments, but they were paid. At this point I have a vehicle that they have placed out for collection and could have it reposessed at any time and I am out of my money and a bad payment history on my credit report and no vehicle to drive.

I would like to know what can be done about this unfair act that this company has done. They have not come to our home, left a note, sent a certified letter or their intent, non of which they could do because they are still taking my monthly payments.

When I contacted them to find out why they have my information in a derogatory state they were very harrassing. I could not talk to them without getting irate. I need some professional help as I do not know exactly what to do, but I do know that as long as they have been taking my money I own that vehicle and they need to correct my credit report.

If anyone has information to share in such a manner do contact me.

Thank you.

Cj in texas
Killeen, Texas

This report was posted on Ripoff Report on 06/13/2008 03:40 PM and is a permanent record located here: 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 Suggestion

We are talking about TRIAD ,I myself know they made many mistakes on my loan.

AUTHOR: Lissie - (U.S.A.)

POSTED: Saturday, July 12, 2008

Triad auto loans and their peculiar accounting practice have many customers in default who are up to date It wold be on Triad to substantiate with papers a loan actually in default .Of course its profitable for them to keep obtaining extra money with repo threats and know many clients were in bad credit shape to begin with so will not stand up for thei rights under stae and federal law. Remember Countrywide home loans?Same thing ,different company.It will not last much longer.Good luck to all who were victims.

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#1 Consumer Comment

Bring your account up to date.

AUTHOR: Robert - (U.S.A.)

POSTED: Friday, June 13, 2008

I don't know of any auto financer that will allow a car to be sold or otherwise transferred when the account is NOT up to date. That is why they won't accept a payment from the dealer.

If you bring your account fully up to date, including any and all late fees, service charges, add interest, etc., you should be ok to trade the vehicle in.

Every vehicle I have financed over the last 30 plus years has had some clause in the loan contract something to the effect that I would need their permission to sell the vehicle and that permission WOULD NOT BE GRANTED for a delinquent account.

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