Triad Financial Ripoff at the end of auto loan contract, reposessed car after final payment arrangements were made ripoff Huntington Beach California

The 5 year contract on my vehicle ended in September 2006. I had a balance due for some late fees and 2 deferred payments. The balance was approximately $2,300. I paid one of the car notes on October 15 and the equivalent amount of two notes on October 31, 2006. This left me with a balance of $1,200.

I was in constant contact with representatives of Triad over the following weeks, and on November 29 at 1:00pm, one of the reps offered me a settlement sum of $650, and I agreed to pay the total amount on or before December 15th. She assured me that if I got the final payment in before the end of the year it would be okay - just not to let the balance remain until January 2007.

Four days later, at 6am on Sunday morning, December 3rd, there was a very loud knock on my door, and three men were standing there telling me they were there to repossess my car! Even one of them said they could not figure out why I was on their "hot list" as their paperwork reflected a balance under $700!

When I called Triad on Monday and spoke with the same rep that I made the arrangements with, she said that she entered notes on my account after our conversation at 1:30pm, and the repo department took my file and changed the status at 7:00pm the very same night. She said she was never notified of this change and apologized to me, stating that there was nothing she could do.

After hours on hold with the recovery dept., I was told that now I had to pay over $1,700 to get my car back! The rep in the recovery dept. said there were no notes on my account regarding any arrangement made.

Two days later I spoke with a manager, who made an offer of 80% of that total, and I paid $1,365 balance for a car that I was supposed to pay $650 for.

Now, the next challenge will be getting the title for my car. I've been disconnected twice this morning, and hope that one day soon this will be resolved, and I will never deal with crooks like Triad Financial in the future.

Toni
Pasadena, California
U.S.A.