Complaint Review: TRANSOUTH

WE FEEL WE AM BEING RIPPED OFF BY TRANSOUTH. WHEN WE PURCHASED THE VEHICLE WE WERE NOT AWARE TH INTEREST WAS SO HIGH. WE WERE TOLD BY CAPITAL FORD AFTER 6 MONTHS WE COULD REQUEST TANNSOUTH TO REFINANCE TO GET A LOWER INTEREST.

OUR PAYMENTS HAVE NEVER BEEN LATE. THEY ARE ITS ON AUTO BANK DRAFT. WE FEEL WE ARE DEALING WITH A LOAN SHARK. I CALLED THEM AND INQUIRED ABOUT REFINANING AND WAS TOLD THEY DO NOT REFINANCE.

THAT TELLS ME THEY ARE ONLY OUT TO RIP YOU OFF. I PAY 374.64 A MONTH AND OVER 50% GO TO INTEREST. IN THIS STATE IF I SURRENDER THE VEHICLE I STILL HAVE TO PAY FOR IT. I HAVE NEVER HAD A CAR REPOSES.

WE ARE BOTH (MY HUSBAND & I) ON DISABILITY RETIREMENT AND IN THIS TOWN YOU NEED A GOOD VEHICLE TO GET AROUND. THIS VEHICLE WAS ONLY $16,000 WHEN WE BROUGHT IT. BY THE TIME WE FINISH WE WOULD PAID ABOUT TWICE THAT.

WE HOPE WE CAN GET SOME HELP THROUGH FILING THIS REPORT. THE PAYMENT IS NO PROBLEM IT'S THE INTEREST.

Kathleen
Elizabethtown, North Carolina
U.S.A.