Complaint Review: GM Financial/ Americredit - Arlington Texas

If you have a signed contract and the company decides to not apply the payment properly and contacts the customer and advises them they are behind.  After speaking to the customer rep they say you owe x amount to get caught up.  You pay X amount and you still receive notifications your behind.  This is not deadbeat whiners this is reality.  IMHO I beieve this company is headed for a lawsuit but its okay they will be bailed out again.

Its funny...it seems the only people who are wailing are those who have somehow broken the contract or want to break the contract by paying late, changing due dates or not paying at all.  Oh yes, they were the best thing since sliced bread when they took a chance on you serial deadbeats but when the come after you because you continue in your deadbeat ways and start screwing them like you deadbeats did with your previous creditors, oh, they are so terrible, so illegal and so cruel.  Its the typical serial deadbeat wailing!  When you are breaking the contract or want to break the contract, you aren't dealing with customer service...YOU'RE DEALING WITH BILL COLLECTORS!

No one is entitled to their opinion(against GM Financial)
- Incorrect.  They are most certainly entitled to their OPINION, but if their OPINION doesn't match the FACTS then people are going to "call" them on it.

The OP in this case basically said that the fiance was late at least a couple of times, putting this at 3 times that they were delinquent.    The OP also infers by saying that it was "unprofessional" to not be notified, is that if they were notified they would have paid the bill.  Well what the OP fails to realize is that a car loan is probably the 2nd biggest monthly obligation a person has.  So to say that they just "forgot" about it..seems very improbable.

One other "missing" piece is that this report was apparently written by the Fiance, and we have no idea what story they are getting from their soon to be spouse, and what may or may not be the full story.

I find it amazing that this certain individual is so quick to judge others for situations that perhaps were beyond their control
-  So what YOU are saying is that the finance company must basically become a charity if someone is unable to meet their LEGAL obligations?   As much as you may like that in some perfect world..that is not reality.  There is a point when a company must basically "cut their losses" and repossess a car.   Sucks..yep, but if they didn't do that then what motivation is there for someone to pay off their loan?

Now, with all of that said, if the OP can PROVE that they or the Repo Company did not follow the Repossession laws, then yes they need to go after them.  But so far based on what the OP wrote...they may have a very tough time proving that.

"I can sympathize with other consumers about the company's poor customer service and reputation... I guess this certain individual has never fallen on hard times."

I agree that anyone can fall on hard times and have difficulty meeting their financial obligations. I object to DMcN's false claims against the lender by stating, "Swindlers, scammers, rip-offs, thiefs" concerning a loan that has been in default at least three times. The quality of the lender's customer service and reputation played no part in the borrower's default.

The law you are talking about says that they are required to mail you a "Cure" Letter.  It doesnt have to be send certified, the Creditor has to show where they mailed the letter off. 

Here is a post from a lawyer.

"In Massachusetts if you fall behind in your car payments, your car lender can not just take your car. However, after you are 30 days past due a lender can decide to repossess your car (this can also happen if you fail to keep your car insured). A lender must send you a notice called the Rights of Defaulting Buyer under the Massachusetts Motor Vehicle Installment Sales Act giving you 21 days to cure the default. If you do not cure the default and the lender takes your car, you must be given a second notice stating the creditors intention to sell the car and giving you an additional 20 days to redeem it."

Read this carefully, it doesnt say the letter needs to be send certified, it just says the note has to be 30 days or more past due, OR if the borrower is not keeping the car insured.  It also says that you have 21 days to bring the account TOTALLY current, including all late fees, otherwise they can take the car without further  notice.

I dont know if you and your Finance live together or not, but you cannot assume they did not mail the letter to your Finance, and she did not have the money to bring it current, so she hid that fact from you, and threw away the letter.    I am sure that the finance company made a copy of the letter, and placed it in your finance's file prior to waiting 21 days to snatch the car. 

Now, even if they did not send the letter, all they have to do  is to make a copy of a letter, but a bogus date on it, and drop it in the file.  It will be up to you to prove it wasnt sent after that.

So, using logic, the note had to be at least 52 days late when Ameri Credit repo'd the car.

Exactly how many days was she late when they snatched the car. 

Of course, they may have snatched the car because she let her collision insurance laspe, and they took it for that reason.  They may explain the inflated pay off amount.

Finally, the storage company may not be the same company that repo'd the car.  Most repo companies are small operations that do business out of their homes, and when they return the car to the leinholder, the leinholder has a storage yard they contract with  to hold the car until you have either redeemed it, or until it is sent to auction to be sold.

Also, when a finance company repo's a car, the only "paperwork" they receive is a phone call giving them the year, make, and model, and color of the car, along with the debtor name, and work address, and home address.  There is very seldom any "Formal" paperwork that changes  hands, until the car is actually repo'd. 

The only reason most repo agents notify the police that they took a car is so that when they are drivng down the road with a repo'd car attached to their wrecker, a police person on patrol wont stop and arrest them.  Often times the debtor will file false reports with the police reporting their car's stolen even though they knew the car was reposessed.

In my day when I used to repo cars, we even had a debtor who went out and reported the car stolen to his insurance company, and he managed to get a rental car from the insurance co.  He quickly lost the car when the finance company reported the car as repossessed , to the insurance company.  The debtor was facing serious Insurance Fraud charges after that.

The moral of the story is, after you hit 30 days late, beware, because people will come to your home, and attempt to leave you without transportation.  So just pay on time, and you wont have that worrry.

Why is it that when people air their grievances about this company, a certain individual comes on and writes a ridiculous rebutall-namecalling, etc.  This is what this website is for! After dealing with Americredit/GM Financial for 6 years, I can sympathize with other consumers about the company's poor customer service and reputation.  I find it amazing that this certain individual is so quick to judge others for situations that perhaps were beyond their control.  I am not a deadbeat, lazy, on welfare, etc. I have worked hard since I was young. I am a mother of 2 small children and work long hours on my feet to support them, along with their father. Last year, their father lost his better paying job and life has been a struggle since. I guess this certain individual has never fallen on hard times.

The lender, for absolutely no reason, did a repo on this account, even though the borrower has a credit score of 995, 601, 899, hasn't been late on any payment since 1793, has a combined credit limit of $78,000,000, sends Christmas cards to the lender and takes them cookies every week.  Yes sir, must have a repo because somebody in that office wanted that exact make, model and color of car.  Yes, that's it.

I suggest that you take your contract and any other communications to a consumer lawyer.  If your vehicle based on your state law was illegally repossessed a consumer lawyer can advise you.  You should not be charged a fee if you have a legal stand the fee will be paid by the loan holder if they did an illegal repossession.

Excerpt from the AmeriCredit web site:

AmeriCredit helps dealers increase vehicle sales by providing subprime auto finance solutions to dealers throughout the U.S.

Subprime lenders loan funds to people that have a history of difficulty maintaining a repayment schedule. Why didn't she request a loan from the lender that previously required a cosigner?

"All I put this report up for was to warn others to be careful of Americredit/GM Financial."

AmeriCredit needs to warn other lenders about you. If she changes course she may get a decent APR in 2019.

 I am not wailing nor am I whining. I further more aren't a Welfare type or Deadbeat. I am a full time mechanics as well as a part time public municipalities worker. The loan is through Americredit because it was my fiance's first loan on her own without a co-signer. If it was for bad credit or previous late payment history smart guy then why do we have numerous credit cards with a decent limit? Know what you are talking about before you reply to something. All I put this report up for was to warn others to be careful of Americredit/GM Financial.

What is happening here is the DEADBEAT is just nit picking looking for some way to DEFAME the lender because ONCE AGAIN the DEADBEAT was subjected to collection/repo actions.  Lets look into the history of this situation...the DEADBEAT became a DEADBEAT because they developed a well documented, well verified and well demonstrated reputation for NOT paying their bills on time PRIOR to the relationship with Americredit.  If this was not true, then this person would have been financed by a bank with a much lower APR.  They did not choose Americredit, they were placed with Americredit because NO BANK with lower APR trusted them to repay the loan on time because of their documented, verified and demonstrated reputation.  As we move forward, guess what, surprise, surprise, surprise, the DEADBEAT has continued in their ways, demonstrating themselves to be a HABITUAL, REPEAT DEADBEAT by not paying Americredit on time.  Americredit exercizes their rights under the contract and does a repo.  Just like some sorry repeat offender of a habitual criminal, this person is nothing more than a habitual DEADBEAT who hasn't learned their lesson and probably never will.  Here they are today, crying, whining and wailing because big bad Americredit did what they said they would do, repo the car because this DEADBEAT failed to do what they said they would do...pay their bills on time!  Another case of the sorry, wailing subprime welfare type further demonstrating what a blight they are on society!

"She's been late a couple times but always caught up... This is the first time that it was in default and they couldn't even notify her."

You have admitted to at least three (not one) defaults. Your fianc was not swindled.

 This is the first time that it was in default and they couldn't even notify her. Very unproffessional.

 As far as I know it was the first time as far as repossession actions whatsoever. She's been late a couple times but always caught up.

"Need I say more!?" Yes you may. Was the loan in default?

b) After a default by a buyer under a consumer credit transaction, the secured creditor may not bring an action against the buyer or proceed against the collateral until he gives the buyer the notice described in this section.  The notice so required shall be deemed to be delivered when delivered to the debtor or when mailed to the debtor at the debtors address last known to the creditor. If a buyer cures a default after receiving notice and again defaults, the creditor shall give another notice before bringing an action or proceeding against the collateral with respect to the subsequent default, but no notice is required in connection with a subsequent default if, within the period commencing on the date of the consumer credit transaction subject to this section and the date of the subsequent default, the debtor has cured a default after notice three or more times.

Has this happened a time or two before? How many times was the payment late? Most companies want paid in full on time, every time as per the signed contract.