I was 42 days late on my payment in June 08. I spoke with an AmeriCredit collections agent who by the way they had been bombarding me with calls.
The agent said I could make a payment of roughly $158.00 to defer the June and July payments and then my payment for August this year would be due as usual. They got my personal bank account information, etc. and the last thing I remember saying to the rep. to make sure we were on the same page because she made it clear that the "management" may or may not make this option available to me but "IF the payment comes out of my bank account does that mean that the deferment was accepted?" Rep: "YES" The payment came out of my bank account, two days later I get the bombardment of phone calls from them again, come to find out, "Management" didn't accept my reason for deferment (I had been cut hours at work).
Why was I told different by their rep? New Rep: "They told you, you misunderstood.". No, No, No, that is not what I agreed to. (ALSO, WESTERN UNION SPEEDPAY CHARGES $10.00) From now on make sure you have your conversations taped or a witness that you can bring to court or testify for you.
Make sure everything you do is in writing. Don't trust anything their rep says. Judging from this website until I get totally current they can still pull my vehicle after 8/9/08. I got current and am only 17 days late now but according to their letter (which by the way they sent as soon as you are over 30 days late on the FIRST payment due.
They send a letter telling you you have to "Cure" the default or they retain the right to repossess. Doesn't matter if you are within the 30 days, as long as what they actually do matches their threat letter. As it stands now I have until 8/9/08 to make my July payment due on 7/17 or I will stand to get a repo. These guys are total sharks, take my advise, stay away.
I am considering refinancing just to get away from them. I will pay another finance co. to get away.
They are total rip off artists.
Review about: Americredit Loan.