Jump to content

Auto Finance Company


VaSwtness
 Share

Recommended Posts

My husband and I had a loan from Consumer Finance Corporation for a car we financed in 1997. The loan came to maturity (according to our records) in December 2002. Back in October, CFC sent us a final payment coupon saying we owed @$2045 for final payoff. We knew this wasn't correct. Throughout the life of the loan, we had done 2 extensions. Ever since the first extension, their records have never been right and has reported to the credit bureaus as always being late. Trying over and over to get it corrected, we knew this would be a long process. Here is what we've done so far:

1) In Nov, 2002 sent a cert/ret rec't letter and asking for written verification, disputing the amount owed, requesting detailed statement of money posted to account & when and gave them 30 days to respond. Also offered to do phone call with a person that had our records in hand to go line by line if necessary

2) Jan, 2003 after no response and over 30 days, sent another cert/ret rec't letter stating their failure to respond with debt validation and again disbuting all remaining balance and requesting detailed statement be sent.

3) Mar, 2003, another letter sent offering to pay what we believed to be the correct amount owed since they failed to correspond with us.

4) Thinking of sending another letter today?!?!

Two days ago, I pulled our credit reports starting with Equifax. Now, our last computer generated bill from CFC came in May for $2045. Still no acknowledgement of letters written. I found out from reading our CR's that CFC has updated the balance owed to $923.08 and charged off the account. Did I miss something here? If this is about the amount I told them we believed we owed (3 payments left in Oct, 2002), why wouldn't they send me a revised bill, admitting their error, fixing our credit reports to PAYING AS AGREED, and taken that amount from us many months ago?

So what should we do now? How would I go about getting them to fix this information considering we were correct from the beginning? They aren't answering certified mail. Oh, by the way, I forgot to mention that they no longer do auto loans, only real estate mortgages. Staff is limited and you can only get a general customer service rep when calling who only asks "when are you paying....".

Before you ask... Yes, we still have the car. They have never tried to come after it. Bottom line....I WANT THE TITLE and I WANT MY CREDIT FIXED.

Help! Any suggestions?

Thanks

Link to comment
Share on other sites

I would call them on the phone, and ask them what the hell is going on.

If they can't help, ask for their supervisor...if they can't help, ask for *THEIR* supervsior, and so on.....Until you find someone who can help you get it straightened out.

Link to comment
Share on other sites

Thanks, but we have called several times and have gotten nowhere. If I get to a "floor" supervisor, they say the same thing. That is why we started the letter process. In one of the letters, we cc'd the Director of Compliance for Chevy Chase Bank. Apparently they are the "mother" company of CFC. No response from her either. Tried calling her twice and even left a message with her secretary to return our call. NOTHING.

After posting today, I called an attorney. (Pre-paid through work) Waiting for an attorney to return my call Mon or Tues. I figured what do we have to lose at this point. If there is something we missed, right or wrong, they would know. Also, maybe they would make a phone call and get somewhere for me or at least give me the direction I need to go in.

For all the negative stuff we do have on our credit and trying to fix, we're not going to let this one go when we feel we're actually right, for once!

Link to comment
Share on other sites

Good luck..

The only other thing I could think to do would be to walk into their office, and sit down with someone and tell them that you don't want to leave until you can get this worked out somehow... (assuming they have an office in your hometown).

Link to comment
Share on other sites

Going to need further help on this. So far I spoke with an attorney. Come to find out the law firm I'm assigned to (Pre-paid Legal) isn't much help when it comes to these issues. The attorneys comment to me was send a letter to OC with a notation that I noticed they updated my balance to the amount it should have been, and have them mark the 3 CRA's as PAID. Doesn't sound right to me. Secondly, I took BrassFan's advice and called the OC AGAIN and asked if we could make an appt to come in and sit down with someone. I also mentioned I noticed they updated our balance to the correct amount. No go there. There only a "Call Center" and there isn't anyone to sit down with. But they said if the amount has been updated then what am I disputing. Pay it.

Couple things wrong with this. 1) If they "verified" there records and updated to correct balance, shouldn't they have notified me. 2) I want my CR to say PAYS AS AGREED and all late payments taken off of it. 3) They also told me that it was sold to a CA, but wouldn't tell me who. We haven't rec'd anything as of yet.

I'm really confused on this. I was going to find a local attorney that specializes in this field and get his opinion. I just don't want to have to pay huge amounts of money to get this fixed. Out of all the letters running around on this board is there one in particular that "might" fit my situation?

HELP PLEASE!!!!!

Link to comment
Share on other sites

Guest
This topic is now closed to further replies.
 Share

×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.. For more information, please see our Privacy Policy and Terms of Use.