I got screwed... Urgh

iVillage Member
Registered: 09-16-2003
I got screwed... Urgh
14
Mon, 01-11-2010 - 11:58pm

*sigh* I called my car loan place today to find out how much I actually had left... 2 payments I assumed being a 5 year term being up march 2010, to which was what I signed at.


Apparently I still owe $3200 and 2 more years @ 44%.


In 2008, the company got new ownership, they sent out letters stating this, Also that the new owners where not honouring the current loan contracts and they were uping all outstanding loans to 44% interest from the current 10.8%. Because they werent honouring the contracts you could buy out your loan with out any fees. I never received this letter. Since I didnt pay out my loan they reinstated it at 44% and kept my payments the same and didnt tell me. They dont send out statements

http://i3.photobucket.com/albums/y62/csawin/picasabackground-3.jpg

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iVillage Member
Registered: 04-10-2003
Wed, 01-13-2010 - 8:47am
Holy Chirstmas that SHOULD be illegal. Is there no cap on the maximum interest that can

Bex -

iVillage Member
Registered: 09-16-2003
Wed, 01-13-2010 - 10:18pm

Hi Everyone.


http://i3.photobucket.com/albums/y62/csawin/picasabackground-3.jpg
iVillage Member
Registered: 08-24-2007
Thu, 01-14-2010 - 7:36am

Oh brother!

Kate


empty purse

iVillage Member
Registered: 09-16-2003
Wed, 01-20-2010 - 11:08pm

Yeah I would've been paying it off forever.


DMP is

http://i3.photobucket.com/albums/y62/csawin/picasabackground-3.jpg

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