|
First question I got is Who is the best Lending Tree mortgage broker in vancouver? Thanks for any comment. Another question... Bad news just hit. My wife and I have a joint GMAC auto loan. I filed a individula CH7 BK in July. We did not reaffirm the Lending Tree loan but simply continued to make payments on it which GMAC was ok with.. |
|
|
|
Good question... I dunno what is the right answer. I'll do some research in Google and get back to you if I bump into an decent answer. You should email the people at Lending Tree as they probably could give you an answer..
|
|
Have you ever deferred a payment before? My husband has a GMAC Lending Tree loan and we were told that you are allowed up to 5 30-day extensions (where they add it to the end of your loan) All you would need to do is defer Dec and Jan. and pay Feb, and you should be fine. That is, unless you've already used your 30-day extensions. Make sure though, if you do this that you watch that they don't mark you as late....especially since this is their fault..
Teresa.. |
|
This is exactly the reason why everything should be put in writing..
If you would have had that in writing it would have been considered an agreement/contract which could definetly be enforceable in court.. It would be considered their mistake and their loss, plain and simple if you would have had what they told you in writing.. Now they claim a simple mistake was made on their part, speak to a manager and say since this is your mistake what can you do for us?. If your state allows you to tape record phone conversations I would go out and spend the $40 or so dollars and buy a recorder and get them on tape admitting to their mistake and what they stated to you several months ago.. Get them to answer that question so you have it on tape for court.. You then have leverage should they want to repo the car, you could call them back and play them the tape.....Ask them if they really want to do that and would it be wise.. Your options are...... Pay them the money they want. Have them set up some sort of payment plan. Record their screw up and have leverage should you need it.. I say record away!!!. Tac.. |
|
Thanks for the replies. We just got off the phone with them. What a mess..
They do have a deferment program like some of you mentioned, but because our account is being handled by their BK department, they have a strict 60 day or repo rule they said. There is nothing they can do.. We told them we were going to contact our attorney regarding this, and no all of a sudden they state they don't have any notations on their account that we called in December or January, which my wife said this morning they did have the notations on the account we did.. We are going to scrape together the money and try and get it all paid. I'm calling back to see if they would not charge us any late fees and report us as being 60 days past due.. Thanks for your help.. AHHHHH.. |
|
While your scraping...what's the value of your car? How much do you owe (they can't get a deficiency on you because of the BK). Is it in their best interest to work with you?.
Have you always been current with them? If not, when was your last late pay. I would get my weaponry together, see again if they'll work out something with you. DH is in sales - no doesn't mean no before the 3rd time you've heard it!. I may be wrong, but I don't believe they can report to the CRA's anyway because that is continued collection post BK .. These are just some thoughts... |
|
Tell them fine you will pay the amount that you "owe" but where is your extended warranty refund from when you ended the contract? Since they did not place that money to the Lending Tree loan (like they said the would) then tell them to cut you a check for the balance of the extended warranty, which you can then use to pay the two months of car payments...
|
|
Darn Doit! Slap us in the face with the obvious. LOL Great idea!..
|
|
Heeee Just trying to help. There was plenty of good advice from all of you regarding this issue. I really hope that the OP gets this taken care of. It is just as Tack14033 stated this is just another example of how you have to get any agreement in writing to protect yourself down the road...
|
