I am now 5 days late on my payment to this company. I spoke with my account representative, Taylor, earlier this month explaining that I am experiencing financial hardship due to daycare and utility costs rising and wanted to see if there were any arrangements that could be made.
She said absolutely not. After I told her that I would be getting paid on the 25th she said she could extend it until then but if I didn't pay by that date it would "go into review". I asked what that meant and she would not elaborate. So, on the 19th (my payment is due on the 20th) she called to remind me of my payment.
She also sent me an email and a text. On the 20th she did the same thing. The third time she called, I was in a meeting and I answered to let her know that. She hung up immediately.
I called her back after my meeting to remind her of the conversation we had a the beginning of the month and she stated she had no recollection. I asked if I could make out some sort of arrangement for this month due to financial difficulties and she was unwilling to work with me. She did "get approval" for the payment to post on the 25th but after that it "was out of her hands". I just do not get this.
I have worked with many creditors and this isn't my first car loan. Even T-mobile works with me on payment arrangements. I had a car loan with GMAC and with Capital One on previous cars I have owned and never experienced this type of demanding harrassment on and before a due date as I have with this company. I am not saying I am a deadbeat that doesn't pay her bills, but I am a single mother of 3, battling child support, and having to come up with creative ways to ensure my bills get paid and everything remains "status quo".
I KNOW I AM NOT THE ONLY ONE IN THIS SITUATION! What amazes me is their unwillingness to work with you, so what if your electric bill is due, so what if you have a child in the hospital, so what if you are in the hospital, so what if...THEY DON'T CARE, just pay them on the due date. WHICH I totally understand is important. HOWEVER, whether it is 1 to 10 days or even 15 days late, it isn't a month late, you are still paying them so...why are they such sharks?
I checked my contract from when I bought the car and it explicitely states that if a payment is 10 days past due a $15 late charge will be assessed. NO WHERE DOES IT STATE THAT IT IS A NO GRACE PERIOD LOAN. I have never received documents exclusively from this company (Prestige Financial) and I have NEVER...NOT ONCE...received a monthly bill statement from them (either through regular mail or email). I would not even know what my account balance was if I hadn't created an account on their website.
And even that information is sparce and void of any details. I never signed anything with them exclusively, just the standard contract with the dealership. So...if my signed contract states 10 day grace period with $15 dollar late charge, doesn't that stand as legal precidence over their unsigned policy of no grace period?
I almost want to sue them for breach of contract. I think I will look into that tomorrow...
Review about: Prestige Financial Loan.
Monetary Loss: $13000.