GMAC rep tried to arrest my STS

[Spittin Game]

Thats really good for a vendor to post on a public forum. Makes everyone giving you their money feel real safe.

[Destroyer]

Originally Posted by Spittin Game

Thats really good for a vendor to post on a public forum. Makes everyone giving you their money feel real safe.

I wasn't gonna write it but I thought it after reading all that. Not that I need what he's selling at the moment but the thought of exchanging money/goods with this guy is scary.

[hueterm]

There is so much fail in this story that not all of it can be true...

Why in the world would you risk your credit rating on a repo?? If you have a dispute w/them, don't pay the disputed amount until it's resolved -- don't just quit paying altogether.

[terminal Velocity]

I'd be angry too and I enjoyed the story. But I probably wouldn't cut off my nose to spite my face.

[nikon]

Originally Posted by terminal Velocity

I'd be angry too and I enjoyed the story. But I probably wouldn't cut off my nose to spite my face.

I always knew this guy was a quack....he was worse when he was his alter ego, gmgeek.

[Playdrv4me]

[Destroyer]

Originally Posted by nikon

I always knew this guy was a quack....he was worse when he was his alter ego, gmgeek.

Well, quack may be a bit much but I dont understand what kind of support he was looking to garner. You dont pay, you dont play, pretty simple. Were we all supposed to be rooting for him?

[Playdrv4me]

By the way, everytime you attempt to hide the car you are only making your shitpile worse. Every penny that the finance company has to spend attempting to acquire your vehicle, in addition to any associated interest and fees WILL be added to whatever the balance of the vehicle was.

Reposession agencies have SKY high fees as opposed to your average wrecker service, so it isnt hard to rack up several thousand dollars in repo fees pretty quickly.

[Cliff8928]

Originally Posted by hueterm

If you have a dispute w/them, don't pay the disputed amount until it's resolved -- don't just quit paying altogether.

From what I read, the remaining balance of $1k is fairly equal to that of the security deposit which would be refunded, hence not paying.

That was a crappy thing of them to do to attempt to get it like that.

[yourgmsolutions]

well, when i wrote my first post my intention was not to get any sort of support ( when I need a support, or a warm hug, I talk to my wife ).
I had a different point, but many took it the wrong way.
this is how its all started.
back in 2006 when I took delivery on my STS, month or two later I got a letter from GMAC asking me to provide insurance information. So I sent it right away. 6 month later I recieved another letter from GMAC about the same thing. so this time I called them and while i was on the phone with them, I faxed over same documents again.
Now, april of 2008. I recieved letter again, stating, because they never recieved any response, they had to their insurance or what they call it VSI or something like that. which is $220 a month from april of 2006 to current. and they recalculated monthly payments.
I am very upset. when I bought my first home, it was financed through GMAC. 30 years loan I fully paid in 5. then 3 times I financed my car loans and paid them off yearlier. now I have 2 more home loans from them and a car lease, and I never been late.
So how do I suppose to feel about all that ?
It gets even better. My insurance agent told me that they requested copys of my policy and he faxed them over long time ago. And he can prove it. My lawyer said that I have a very strong case against them.
I was over at the dealership today where I got my car from, and sales manager told me that their 2 Escalade owners going through the samething with GMAC. and she was very pissed, because one of them wants to trade his Escalade for the newer one, and they cant close the deal because of that issue.

ps: Positive and Negative coments are always welcome

[Playdrv4me]

Yea that insurance crap does suck. If they are actually being that un-cooperative and you have a lawyer and an obviously rock-solid case then screw em. I've seen this happen several times with this finance company insurance and it is not pretty. It adds about 5000.00 to the balance of the loan.

[gothicaleigh]

Typically it takes 2-3 missed payments for lenders to call in the repo-men. That's almost 90 days, why didn't you remove your things during that time?

The whole insurance problem makes it sound like you may have been having trouble meeting other payments too...
Were you putting insurance on the car and having it lapse? It makes no sense whatsoever that GMAC would not recognize your coverage after sending them as many copies as you claim.

Even granting that the insurance mistake was on them, completely ceasing payment on your lease while continuing to keep the car was not the right thing to do. You should have continued making at least the original lease amount while the insurance issue was being straightened out or turned the car in to your dealer.

GMAC isn't new to this game. They're going to rape you if you bring this to trial (it will be next to impossible to justify non-payment of your lease over an insurance dispute).

[Playdrv4me]

Originally Posted by gothicaleigh

The whole insurance problem makes it sound like you may have been having trouble meeting other payments too...
Were you putting insurance on the car and having it lapse? It makes no sense whatsoever that GMAC would not recognize your coverage after sending them as many copies as you claim.

It can and *does* happen alot more often than you think. Ive had this happen to me a few times but finally got it sorted out and it had nothing to do with lapses in my insurance coverage.

In fact, I've even had the REVERSE happen. SOMEHOW my new insurance carrier got automobile information for a PREVIOUS car I had *never* insured with them (the old M3 I had), so my Crossfire was running around uninsured and the M3, which I no longer had nor had ever insured with this entirely NEW insurance company was being paid for.

The insurance company never really did find out how or where they got the VIN for the other car, but I suspect it backflowed from the Finance company somehow. ONE mis-handled hand-off or data entry or missed batch file and the whole process goes down the shitter, which is why I don't trust financial institutions and I work for probably the biggest one there is. Small mom and pop banks and credit unions are the way to go.

However, according to the OP I thought this was about a security deposit, not lender-self insurance.

[CIWS]

Certified letter with a copy of the insurance to GMAC FTW.

[gothicaleigh]

Originally Posted by Playdrv4me

It can and *does* happen alot more often than you think. Ive had this happen to me a few times but finally got it sorted out and it had nothing to do with lapses in my insurance coverage.

Mistakes happen, I understand that. Was just pointing out what it sounds like to an outside party, because honestly it happens way more often in the way I described than as a mistake by the leasor. Again, I do not mean to accuse the OP of not keeping up on his insurance (I don't have enough information to make that kind of declaration), just stating what seems more likely to have occured.

Now the non-payment of the lease is another matter... the OP is at fault on that one. Regardless of the insurance issue, he should have kept up on the originally decided upon payments to prove his good intentions to the court. There is no excuse for non-payment while keeping the car.