AmeriCredit Financial (n/k/a GM Financial and f/k/a AmeriCredit Corp.) (AmeriCredit), a subsidiary of General Motors Corporation, is a third-party subprime auto loan agency headquartered in Texas. AmeriCredit has received consumer complaints alleging violations such as improper communication tactics and sharing of information. If you have been contacted by AmeriCredit, make sure you understand your rights before taking action.
According to the Better Business Bureau (BBB) AmeriCredit, which the BBB now profiles as GM Financial, was founded and incorporated in 1992 in Delaware. The BBB established its profile page in 1995. The BBB lists AmeriCredit as a consumer finance company.
According to its website, AmeriCredit “has been a leading provider of auto finance solutions for dealers and consumers in the U.S. since 1992. The company has established expertise in originating and servicing subprime auto loans, which include auto finance contracts originated by dealers and purchased by the company.” General Motors Company acquired AmeriCredit in 2010 and renamed it General Motors Financial Company, Inc. (GM Financial). AmeriCredit operates under the name GM Financial “when conducting business with GM dealers”, but operates “under the AmeriCredit brand when conducting business with all other dealers.”
AmeriCredit’s website informs site visitors that it has “approximately 20 years experience in the auto finance industry” and is “one of the leaders in subprime auto finance.” AmeriCredit “strive[s] to build lasting relationships” with dealers so it “can understand exactly what” dealers are “looking for from a finance company and deliver those exceptional needs, products and services” consistently.” The FAQ page indicates that AmeriCredit works with GM dealerships and other franchise and “select” independent dealerships. Dealers interested in doing business with AmeriCredit can obtain additional information by contacting AmeriCredit.
AmeriCredit also provides a “monthly income calculator”, contact information for car buyers to contact AmeriCredit about loans and payoff amounts. The FAQ page answers questions about account access, payments, insurance, payoffs, and titles.
The AmeriCredit website does not provide a lot of detailed information about its business practices or compliance policies. It does include standard, legally mandated information about information privacy and security.
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The BBB has closed 538 complaints against AmeriCredit GM Financial in the past three years, with 195 closed in the past 12 months. Most of those complaints allege problems with billing and collections. Many complaints also allege problems with customer service. Since March 2015, the Consumer Financial Protection Bureau (CFPB) has received 23 complaints about AmeriCredit. Justia lists at least 47 federal civil lawsuits involving AmeriCredit Financial filed since 2015, some of which are ongoing.
Absolutely. Here are some Sample Cases against AmeriCredit
According to the BBB, complaints against AmeriCredit “concern service issues and billing and contract disputes. Specifically, complainants allege the company has made rude calls to them about past due accounts. Also, complaints allege the company has reported incorrect information to credit bureaus and payments have not been applied correctly. Other complainants allege the company failed to return phone calls, delayed in providing insurance refunds, and would not help the consumer with refinancing.” The 61 negative reviews on AmeriCredit’s BBB profile support these allegations.
In December 2017, a complainant alleged that AmeriCredit offered her “a deferment option via email” and told her to “call to finalize it.” Complainant indicated, however, that when he called, she “quickly learned it was a bait and switch tactic” because she “would have to pay a few hundred dollars to even enroll.” She told AmeriCredit she did not have the money that day, but “would try to figure something out.” The complainant also indicated that she made a partial payment the same evening, but before she could call back in the morning, AmeriCredit “sent a truck out to ‘secure the vehicle to make sure [she] made the payment.’” She called AmeriCredit “as soon as the office opened and was told the deferment was a ‘limited time offer and no longer on the table.’” According to the complainant, AmeriCredit then “added an additional $550 to the total” for her to retrieve her car. The complainant brought her account current within a matter of days, but AmeriCredit reported her status as “repossession” to the credit reporting companies, which she indicated “was not true as of the date of reporting.” She indicated that despite calls and voicemails to “supervisors” at AmeriCredit, she has not “received a single callback.”
Also in December 2017, a complainant alleged that AmeriCredit reported him as late on his loan payments,” which report was “factually false” and kept a loan open past its paid off date.” The complainant indicated that he had traded in his vehicle and satisfied negative equity in the traded vehicle by rolling it into a new loan also through AmeriCredit, that the new loan had been funded and sent, and there was “proof of payment and check being cashed” by AmeriCredit. Nevertheless, the complainant alleged that AmeriCredit contacted him at workand refused to acknowledge the paid off status of the traded vehicle. Although he was “proactively in touch” with AmeriCredit “to find out the status of [his] account”, and received no late payment notices, AmeriCredit “denied ever receiving a check and claimed the account was still open, still due for $16k plus” and insinuated that the complainant “had not actually traded in the vehicle or completed” the new loan, and reported negatively on the complainant’s credit. According to the complainant, AmeriCredit refused to correct the negative credit report, stated it was reported “accurately” and told him “only a dispute with the credit bureaus could fix it.”
Here are some past Press Releases of Lawsuits Brought On By Lemberg Law Against GM Financial
June 2, 2017. On behalf of our client, Lemberg Law recently filed a complaint in U.S. District Court, Southern District of Florida. The case, against General Motors Financial Company (formerly known as AmeriCredit), charges the company with violating federal law. It asks for $500 to $1,500 per call in statutory damages and other relief.
The Telephone Consumer Protection Act was meant to provide consumers with peace of mind and give them control over which commercial entities can contact them over the phone. Our client says that General Motors Financial Company called his cell phone using a predictive dialer, also known as an automatic telephone dialing system. When he answered the calls from General Motors Financial Company, our client heard a period of silence followed by clicking noises prior to a live representative coming on the line. This is one of the giveaways that it was a robocall. At one point, our client waited for a live agent and demanded that General Motors Financial Company stop calling his cell phone. Nevertheless, General Motors Financial Company continued to robocall him.
The lawsuit charges that General Motors Financial Company violated the Telephone Consumer Protection Act (TCPA) by using a predictive dialer to call our client’s cell phone without her consent.
801 Cherry St Ste 3400
Fort Worth, TX 76102-6854
Telephone: (800) 284-2271
Understanding Your Debt Collection Rights
Consumers are protected from abusive debt collectors from the Fair Debt Collection Practices Act (FDCPA). By way of instance, the debt collector must identify himself or herself, who they’re working for, and what debt they’re collecting. The FDCPA claims that debt collectors can’t use any deceptive or misleading representation, like implying the debt is secured by the USA or any particular state. Additionally, they can’t use a badge or uniform to pretend they’re a government employee collecting a debt. Misrepresentation is a violation of the FDCPA and could be reported as such.
In case you’ve been a victim of a debt collector’s wrongdoing, then you can search for justice under the FDCPA. You have the right to pursue a claim against the debt collector; if you prevail, you can collect up to $1,000, plus attorney fees and court costs.
Your debt harassment checklist:
- You are receiving multiple calls per week from third party collection agencies
- You are receiving early morning or late night calls from debt collectors
- You are recieving calls at work from a debt collection agency
- Debt collectors are calling your friends, neighbors, or coworkers
- Collectors are threatening you with violence, a lawsuit, or arrest
- A debt collector attempts to collect more than you owe
- You are being threatened with negative credit reporting
- A debt collector attempts to intimidate you
- Criminal accusations are being made towards you
- Use of obscene language during an attempt to collect
- Automated robocalls are being made to your phone in an attempt to collect
If you’ve been harassed by debt collectors and even one of these has happened to you, we can help. We will fight for your rights.
The Lemberg Law legal team is committed to holding debt collectors accountable, so complete our form for a FREE case evaluation, or call 844-685-9200.
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