How often does THIS happen?

Avatar for colomom99
iVillage Member
Registered: 03-28-2003
How often does THIS happen?
4
Wed, 01-20-2010 - 10:56am

Get out your parkas because you know what just froze over!

After making my car payment with extra to go to principle last week I noticed that not all of it had been applied to my loan. I got curious and ran a history and found out that they had been randomly charging me late fees for the past year with no rhyme or reason -- Sometimes they charged me $15 late fee one month and not the next month even though I made payment on exactly the same day. I called and the teller could not explain but said, oh we looked into your account and you never made a car payment in Jan. 2009 which is why your account is always off.

That not only was not true but made no sense. I asked them to do a full investigation and sure enough they never credited me for any payment because I had used their skip-a-month program where you pay interest only one month which in turn screwed up my account for a full year (not to mention probably went on my credit report). Long story short they actually apologized AND reimbursed me a year's worth of late fees which dropped my remaining balance $200! How often do banks admit they made a mistake and make it up to you?

It really, really pays to check statements completely. I bet had I not caught it I would've paid for five years and at the end of the loan they never would've found the overage or just kept it.

Jenny

iVillage Member
Registered: 08-04-2008
Wed, 01-20-2010 - 11:03am

Good Job! You really have to watch out for yourself and so many people do not, or choose not to.


I have always




iVillage Member
Registered: 04-10-2003
Wed, 01-20-2010 - 11:06am

Awesome Jenny!


Does this mean that the car will be paid off next month?? If so CONGRATS!!! Thats amazing!!!


When my mortgage company effed up and kept doubling (and tripling) the mortgage payment it took days for them to sort it out. My bank was great and tried to help, even giving me an emergency overdraft so I could access to some money. I had to go all the way to the VP (thankfully my Dad knows him) to sort it out. He took one look at the mess and credited me with all the money, all the fees (NSFs, overdrafts etc) faxed a letter to the bank AND my creditors explaining the mistake AND gave me $250 for my troubles.


Its does pay to keep an eye on these things and investigage when needed! Good for you!!!


Bex -


"Yesterday is history, tomorrow is a mystery, today is a gift -thats why its called the present."


Bex -

Avatar for colomom99
iVillage Member
Registered: 03-28-2003
Wed, 01-20-2010 - 11:27am

Unfortunately I still have a little less than two years to go on car. But I owe $7500 now instead of $7700. I have been rounding up $9 the last couple months and hope to continue. Every little bit helps. The biggest problem is the car is terrribly upside down (only worth about $4 or $5K at most) and costs a fortune when something goes wrong.

But I'm going to concentrate on my little victory today and worry about the other stuff tomorrow.

iVillage Member
Registered: 04-10-2003
Wed, 01-20-2010 - 11:36am
Ah I gotcha. I misread (I'm home sick, apparently my brain is foggy, lol). I thought you only had $200 left, lol. Either way, thats still a big deal! Its amazing how adding little amounts will make a big difference in the end! Good for you!

Bex -


"Yesterday is history, tomorrow is a mystery, today is a gift -thats why its called the present."


Bex -