I took a loan out with them 5 to 6 years ago. I couldn't afford the $500 a month payment they approved me for, so I called them and asked them to please pick up the vehicle. I understand that this would hit my credit as a repo, however, 6 years later, I pull my credit and they have it listed as open/revolving/unpaid.
So all those years and months are being reported that I haven't paid. They are the worst.
On June 26, 2011, I purchased a vehicle with a car loan approval from Regional Acceptance Corporation and I picked it up on the 30th of June.
On July 23rd, I got a letter dated July 19, 2011, stating that they changed their mind because of my irregular or temporary employment. I am a pool nurse at one job, part-time at another, and a full-time student. Can they change their mind three weeks later?
I was unemployed and fell behind on payments. I was very uneducated about how auto loans work and Regional Acceptance has kept me in the dark about it. In the past eight months, I have paid them around $4,100. My balance has gone down $239 during that same period. I thought you could just keep making payments and it would be applied to the principle. They did nothing to notify me that my money was being wasted; and on my paper bill, it shows that I owe no late fees. It's very misleading. None of my bills show late fees due, even though I have had a past due balance the entire time. If my money isn't being used to pay off the car, then I want a detailed account of where it is going. I've learned my lesson the hard way. Companies should not be able to steal people's money this way. They also charge $10 every time I make a payment; but they have made that the only way I can make a payment. They have suspended my internet access, which would allow me to avoid the $10 service fee.
I manage to get my original loan corporation (Muncipan Credit Union) to buyout Regional Corp for my auto loan. The fact is that they seem shady and attach other fees to my account after I promptly notified them of any late payment. The loan payment was excessive at 300 (dollars) a month, adding to my own expenses. However, my original loan company paid them in full for all finance charges and fees.
Prior to them being bought out by my loan corporation I have been paying monthly out of pocket payments that should be refunded. The fact is that my automobile was bought at a sum of 12,000 (dollars) and they received a payout-check for 14,000 (dollars) from my original loan corporation. They refuse to return the balance with excuses of unaware fees I never knew anything about nor did I read in my contract at signing. Now, I am being refused my balanced refund with an excuse of other fees, unknowingly were pending on my contract with them that I was unaware of.
I been delay and late on rent due to paying out the large monthly fee and car note. I was nearly evicted. The fact they expect payment promptly, regardless of economic hardship, and promises of payment to be made though late within the month. So, I had to compromise, the fact that I need an automobile to get to and from work. These people made themselves a priority above any excuse to bear with a late payment causing me financial hardship.
I am currently 38 days past due on my car loan account. This lender calls me on a daily basis at least 4 to 5 times per day. I speak to them maybe twice a week to explain my situation, have been unemployed for 14 months, just recently began working again and need some time to get caught up. They still call the very next day, even after I give them a date that I can pay.
They have spoken to every member in my household as to the details of my loan, including my daughter, who is only 13 years old. She does not need to know that I am behind on my car payment or any of my other finances. I also have been receiving e-mails to call Regional Acceptance. I have seen two of these and was not aware I was even getting them because I do not go on my computer at home very often. I did not give them my e-mail address. Most of the calls I receive from them are recorded messages to call their representatives and the phone number provided does not even give you an option to speak to a representative or an operator or I answer the phone and there is silence on the other end. I have waited for as long as three minutes for someone to say something on the other end before I finally hang up.
This is getting out of hand because I have been further behind on this loan in the past and they seem to call more now than ever! I even had a woman try to tell me that I needed to keep up my end of this obligation and needed to make a payment now and to pay in full the total balance due. She began lecturing me on my end of this obligation. I am awakened every weekend by them calling at or around 9 am both Saturday and Sunday, even after I talk to someone on Saturday! And they also call up until 10 pm on weeknights. I have just started a job in the last month. My hours are 10:00am to 7:00pm.
They have been told that I am not available to be contacted between those hours and an hour after they call the first time at 1 pm or so, they call again! I have never been pursued by any company or lien holder as persistently as them. I will not answer the phone for them anymore. I will send them payments each month and try to get caught. I am currently looking into refinancing through someone else, since I am finally working again and have some leverage to do so. Just the emotional distress caused by trying to deal with them without losing my cool is very stressful to me and my family. We all cringe when the phone rings anymore. It is every day they call to remind me that I owe them money. Thank you for your time.
In 2005 I financed a vehicke with regional acceptance corp. A few months later that vehicle was totaled in an accident. In my credit report the vehicle is showing as having been repossesed last month (12/2008)- its showing that my high credit was 10,000.00, the bal owed is 10,000.00. The car was not repossesed at all, certanly not last month. How can they knowingly report inaccurate information? When i called the number and entered my persional information, it says "this vehicle was listed by the insurance company as a total loss, press 1 to continue". They need to report accurate info and STOP ruining peoples credit!
I paid off my car using my banks online bill pay and reagonal acceptance corp. issued my car title to my bank and not to me, my bank is Union bank of Califorina and they said that reagonal must fix this and reagonal promises alot and does nothing they tell you they will call you back and don't and the next time you call your back at the beganing having to explain to someone else I need my car title!!!! I can not sell, trade, or trade in my car with out it and every minute my car loses value it has been paid off since 10/23/2008 it is now 1/17/09 and nothing
