Brett
vancouver,#2Consumer Comment
Tue, December 28, 2010
I used to work in auto lending at a credit union. The amount of your montly payments were $876.99 that you were suppose to pay Chrysler. Even though you are required to have insurance on your vehicle, those montly amounts are not factored into what Chrysler will lend you. The company will look at your oustanding debt (I.E credit cards, mortgage or rent, secured loan) but insurance is usually not a factor that a lending company will look at when deciding if they will approve a loan. I noticed that you said that these were leased vehicles and I never worked with a lease but I do not think that a company would approve a loan at 70% debt to income ratio because the chances of you repaying them would not be to great and without the insurance your debt to income ratio (based only on the car payments and not the other factors that I mentioned above) would be 40% which is a good debt to income ratio when deciding to lend a person money.
Flynrider
Phoenix,#3Consumer Comment
Mon, December 13, 2010
I count 4 repos from Chrysler in your report. By now I'd have thought you'd have this figured out.
"The 2008 sebring my daughter drives she was morally responsible for the payment. she was late 15 times past 30 days. I was late twice and they were paid the month my car was repossessed. "
As you were the principle on both of these cars, that adds up to a generally poor record of repayment in your name. Though your daughter was morally responsible, you were financially responsible for making sure the payments were made.
"Please Examine Chrysler Financial lending practices. These vehicles were in my name making me contractually responsible for more than $1500. 00 a month out of a $2167.00 a month pension. "
That's just a cop out. You're saying that you willingly agreed to lease these vehicles, but now it's Chryslers fault because they should have known you couldn't afford it? Chrysler is not your mother nor your accountant. It is not their job to figure out if you can afford something. Apparently, the payments were being made for a couple of years, so how did that happen?
In all, I doubt that you would have had a different experience with GMAC or any other lender. The problem is one of financial management, not predatory lending. Your post indicates a general lack of attention where your obligations are concerned. Lenders, especially these days, are not kind to those who appear to take these obligations lightly.
Jim
Orlando,#4Consumer Comment
Mon, December 13, 2010
You freely admitted you have a rap sheet of repo's. The repo process is turned on by someone not making their payments on time. You didn't make your payments on time. They repoed...not once but several times. If you want to stop `oosing as you term it, the simple solution is to pay your bills on time.