Ugly Duckling Aka Drive Time ripoff if you think you are getting your title you are not Tampa Florida

I think that you may not have been given all the information on this amount...

According to Florida State law, late charges are 5% of the payment that is past due. That would make your payment $1,000 if it started as one late charge of $50. So, unless you were paying that much, it can not be just one late charge.
I am pretty sure that you're correct about the repossession part. They CAN hold your title for unpaid charges though.

I would check with the state to see about them charging interest on your late charges. I don't believe that is a standard practice and may be against the law.

Ask them for a written statement of charges. I really don't think that you are getting the whole story.

GOOD LUCK!!!

Thanks for the input. But I was told directly from the Credit Mgr. that fees are accrued daily on late fee. I even spoke with the Customer service in the Main office in Arizona and was told the same thing. A late fee that started out at $50 is now $400. I refuse to pay. My principle is cleared in full. According to the law they cannot repose my vehicle for late fees. Late fees can easily be cleared by the creditor. It is not the amount owed on the vehicle. I plan to follow up with the local authorities on this.

As an ex-employee of this company I am not in favor of them however some things they do are legal. You were not charged any interest on late fees, i know the system coding of the program well enough to know how they are assessed.

The late fees are assessed in accordance with the laws for your particular state. If you did assess these late fees then don't be surprised when your vehicle is picked up as a repossession.

If you think hiding the vehicle will deter that then you may want to contact your local law official since the vehicle can still be written off and reported to your credit bureau as a deficiency balance.

The lien release will never be lifted and the financer is able to notify the DMV. I don't want to tell you that was your doing is wrong or right but i want you to understand the reprecussions of your actions before it is too late.

Is this all realy worth $400 to finaly get a clear title and be able to get rid of the vehicle without having further problems?