AmeriCredit: Car Loan Modification Reduce High APR
PETITION FOR AMERICREDIT TO OFFER CAR LOAN MODIFICAITONS: This Petition is a demand for AmeriCredit to offer car loan modification due to their predatory lending practices:
We, the undersigned, are in support and file this petition with the State Attorney General's Office to demand that AmeriCredit (formerly Long Beach Acceptance Corp), modify existing subprime car loans and reverse predatory lending practices.
We feel that reversing this systemic predatory lending practice, with no out of pocket cost to government, can help the undersigned borrowers, modify their subprime loans.
We respectfully demand that AmeriCredit offer loan modifications on subprimecar loans in order to adjust the unfair high interest rates so that the borrower can repay their loans on high upside down car balances; lower interest rates, and stave off defaulting on existing car loans.
By signing, we give permission to have our support made public via television or newspaper coverage.
Discussion
Alex RodriguezThese people are thieves, something needs to be done.
2 years agoComments:
Americredit simply said and explain in full detail that they will not sell my loan for refinancing or do they do any refinancing or negotiating on there loans. Make payments or repo.
vasiliki dimopoulos, United States
2 years agoComments:
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Kathleen Driscoll, United States
2 years agoComments:
My boyfriend has an upside down car balance and has paid $8050.00 interest on a loan of $14,900 and still has 24 months to go. He asked for a loan modification because he is behind 3 payments and the car hasn't been running for a year. They said no modification but he could return the car.
Dana Rice, United States
3 years agoComments:
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Deborah Salman, United States
3 years agoComments:
Had a bill on the car that I told them I was going to pay. Why bother? They came to repossess the car anyway.
Savannah Dunn, United States
3 years agoComments:
Americredit/Gm financial has made more money off of me in interest than what my car was worth. I have one payment left, and they have the nerve to give me a "courtesy call" today and tell me since I changed my payment date from the 1st of the month to the 15th of the month 2 years back, I accrued MORE interest and now I have to make an extra payment. I have been paying those bloodsuckers for 5 years at 21% interest, and was never ONCE late on a payment. They just had to screw me over one more time before I could pay it off.
Joseph Alvini, United States
3 years agoComments:
I agree 100% that Americredit needs to be taken down. I just talked to a friend who also had the same credit as me and they pay 210/mth for a 17000 car while I pay 345/mth for a 11000 car. What surprised me the most was that I put 2000 down while they put 0 down. Americredit sucks
