Complaint Review: . .AMERICREDIT - texas Texas

With all due respect to the "Blame Bush" crowd on this thread you need to be set straight.  Bush did NOT give the order to move his voting base to the front of the line with GM.  By passing secured creditors and giving one of the largest companies in the World to his Unions.  Both my aunt and mother lost thousands of dollars in this deal.  They were both secured creditors with a portion of their medical retirement tied into GM.  Obama single handily set their retirement back 7-9 years and only getting .20cents on the dollar.  Scrapped hundreds years of investment law to take care of his voting block.  What a THUG! 

Making the lame attempt to suggest that Obama inherited a bad economy is the reason he had to use tax payer money to bail out his voting base (GM) is a very lame position.  He could have done the responsible thing and let it fail like all things do when they are sick.  The other companies would have come in and gobbled GM up and the economy would have been the stronger for it.  That is what happens in the real world.   

Wether it's an (r) or a (d) doing it doesn't matter.  It's being done and needs to stop.  Right now, because we have the most inexperienced President in the history of this country at the helm he gets the blame.  Much like the (d's) did when Bush was in office. 

In this case BUSH had NOTHING to do with the taking over of GM and using a credit agency to sell their P.O.S they call cars.  Nobody is buying them even with implementing the same thing Dodd & Frank did with the mortgages.

Simply put.  Goverment Motors using tax money to buy a credit agency to give money to people who cannot afford the payments so they can sell cars is the EXACTLY same thing Dodd & Frank did with F.F-Mack.  You liberals want to address that point? 

I won't expect much of anything in response, just more moral relativism and deflection. 

This companies creditors are mere commodities, not human beings.

     Did you know that General Motors Financial Company Inc., formerly AmeriCredit Financial Services, on Friday agreed to pay $388 million to settle claims that AmeriCredit violated California state law by bailing to properly notify thousands of borrowers before selling their repossessed cars. The huge settlement comes a little more than four months after U.S. District Judge Dana M. Sabraw ruled that AmeriCredit had violated the California Automobile Sales Finance Act by improperly attempting to collect so-called deficiency balances money still owed after a repossessed car is auctioned.(Donahue, June 25, 2012).

A small victory for consumers. 

GM and AmeriCredit are the epitome of shame! Search the internet they have been involved in numerous lawsuits over the years.  They would not have to function as predators if they had integetry.

     The Obama Administration was not involved in GM's decision to buy AmeriCredit. GM is pathetic, their purchase of AmeriCredit is highly selfish and is a slap in the face to struggling consumers.

     I will never purchase a GM vehicle and I will do everything that I can to convince my family members and others to do likewise, this includes any financing.

    You have the right to your opinion, however, President Obama did not create the mess that he walked in to after eight years of Bush, we had a surplus when Bush came in to office.  In truth, it would not have mattered who became President after Bush. The shredded economy was the result of GREED with no conscience or consideration for the consumer!

Unknowingly, my credit was ran through 15 different banks, now I have 15 inquiries killing my credit score and forcing me into that vehicle

- Perhaps you should look up how credit works.  If you had a dealer run your credit through 15 banks..that means that 14 other banks said NO.  So I really wonder how "good" your "good" credit was.

 Now those inquiries would not kill your credit score causing you to be forced into a sub-prime loan.  Inquiries are a very small percentage of your overall score, in fact just about everything else that you do has a bigger effect.  Second, credit scoring is aware of "rate shopping" for things like cars.  So even if there are 15 they know you are only going to get one loan and all inquiries will only be treated as one.

If you have any complaint it is that the finance manager at that dealer didn't have a clue.  As they should have been able to review your credit report and know which banks would have had a better chance of approving you. 

Guess the only people that will finance the car is Americredit, who by the way can no longer make loans in California because illeagal lending practices,

- Please show us where you got this "information" from. 

So I make all payments on time, all but three payments, because the accounting practices at Americredit cause you to get behind on your payments claiming they dont get to their p.o. box but on fixed dates.

Account closed and payed those three lates on my credit report are reported 16/30 day lates one mo. 5/30 day lates another mo. then 6/30 day lates again and again all the while this account is showed payed and closed.

- Not sure what you are saying because an account can't be reported late until you are at least 30 days late.  I can just about guarantee you that it is not "sitting" at a PO box for 30 days.  So I am sure there is more than you are saying to your "on time" payments.  But when the account is paid in full it does not make the previous lates go away.  Your credit report is known as your credit "history" for a reason.  

What GM is doing now by consuming this credit agency is what Chris Dodd (D - Conn) and Barny Frank (D - NY) did with Fannie Mae / Freddie Mack.  The government is allowing a company owned by the UAW and the Obama Administration to know do EXACTLY what Dodd and Frank did! 

They are giving loans to people who WILL NOT be able to pay them back.  When are decent folk going to wake up to what our congress is doing to this country.  Instead of paying back the tax payer, GM spends just over 3 Billion dollars (of our (tax) dollars) to buy a loan agency so they can give credit to people who will buy their crappy cars.

Thanks alot voters!  Thanks for thrashing on Bush for 8 years but giving a pass to Obama and his cronies.  I will NEVER buy a GM product or support that nationalized socialist business again.  I have over 30 people in my immediate family and I am doing everything to educate them to NOT buy one of those cars.  We will be buying FORD, Toyota or Honda. 

Regards,

-  A pissed off American citizen who votes!    

ACF was NOT banned from making loans in California!!!  You clearly do not know what in the hell you're talking about!

If you're that "poor" then you don't need a car.  Nobody put a gun to your head to buy a car or become a sub-prime borrower.

Problems with the condition of the car are a matter between you and the dealer.  The lender's responsibility is financing alone, but like I said above, why would I exect you to know this because you've demonstrated very obviously how you don't know what you're talking about!

Sorry but you had the option of not taking out the loan.  You knew it was 24.99% and knew the payments would be $430  month before you signed.  How is this, and your late payments the lenders fault? 

Check the dates on the late payment reports on your credit report. They will be before "the account was paid in full".

If you don't want to repeat the experience do not borrow more than you can afford and pay your bills on time.