Velocity Credit Union Intersting theft by Interest scheme Austin Texas

I would immediately request an audit of your loan and associated payments, and whatever they come up with should exclude any and all effects associated with the forced placement of insurance upon the vehicle, and then have them present the results of the audit to you.  I would simply add that you're requesting the audit in light of what would appear to be some irregularities to your loan balance based upon the CPI fees, and I would keep in your back pocket the thought that you would not be requesting this, had the CU simply stopped adding CPI fees when they were aware there was no lapse in coverage.

BTW, your old insurance company is required to inform the lien holder (the CU) once the car became uninsured.  Your new agent should have been aware this was going to happen and should have proactively provided you the insurance cert as POI for the CU because it does take a few days for the CU to be notified of the insurance cancellation.  You could have provided your cert to the CU prior to their action to force place, and have them change the insured on the car before the whole circus started.  Having said this, it's hard to say whether this would have avoided the headache you're going through; it's hard to tell how fast your agent acted based on your writing.  If the agent was reacting, instead of being proactive....I would keep that thought in the back of your mind with your agent.

If the CU does the audit correctly, you should at least have an accurate representation of what the loan balance and proper amount of interest is on the loan is, whether you believe it to be too high, or too low.  Well, too low...said no one...but I think you get the drift.  Best of luck to you...