Ford Motor Credit Company - car repossessed and sold at auction - billed $ 8540 - don't feel treated fairly In May, 2000 I cosigned for an auto loan for my then-fiancee with Ford Motor Cre - Ford Motor Credit Company - car repossessed and sold at auction - billed $ 8540 - don't feel treated fairly

Posted on Tuesday, November 18th, 2003 at 12:00am CST by 3ff00147

Company: Ford Motor Credit Company - car repossessed and sold at auction - billed $ 8540 - don't feel treated fairly In May, 2000 I cosigned for an auto loan for my then-fiancee with Ford Motor Cre

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RE: Ford Motor Credit Company - car repossessed and sold at auction - billed $ 8540 - don't feel treated fairly In May, 2000 I cosigned for an auto loan for my then-fiancee with Ford Motor Credit Company. Shortly after taking delivery of the vehicle, the co-borrower called off the wedding, and subsequently relocated back to Tennessee, bringing the vehicle with her. While living with me, she generally made her auto payments on time. But after relocating to Tennessee, she started having difficulty and was usually about two weeks late. During this time, I sent her numerous letter, emails, and phone messages to bring her account current. She ignored all of my pleas and refuses to communicate with me.

During this time, Ford Credit started phoning me 30 times a week. I explained the circumstances to them many times, but they never kept any notes about the account on file, causing me to have to repeat myself over and over. I asked them many times to stop phoning me, but they refused. They called and left so many repeated messages that my sister was unable to leave me an emergency message because my answering machine was full.

On Aug.27, 2003 an Account Manager from Ford Credit named Mike Covington called me and we discussed the account at great length, for over an hour, and were arriving at a mutually agreeable solution. Mike assured me three times that he was not asking me for money today, but only to communicate with him so that he could "help" me. The account was approximately 60 days overdue at this point. During our negotiations, Mike promised to turn their computer off from auto-dialing me 5 times a day, and instructed me now to deal only with him. He asked that if any other reps phoned me to defer their calls to him.

Three days after our initial conversation, Mr. Covington left me voice mail stating he "had good news for me." I returned his call right away, asking to speak directly to him, as he had requested. The representative who took my call responded "Mike is not at his desk". I told her I was to speak to him only, as he had requested. She again replied "Mike is away from desk." I hungup the phone and tried again to reach Mike the next day, and was again told "Mike is not at his desk."

I told her I needed to talk to him and left word to have him return my call. I hungup again but he did not return my call. I tried again the third day, and was again told "Mike is away from his desk." I became very suspicious, as they were using this as a convenient excuse to block me from speaking with the appropriate person in charge of my account. I hungup and again tried to reach him on the fourth straight day, Sept 4, 2003. This time my call was intercepted by a representative who informed me that the car had been repossessed the previous day because the co-borrower, Ms. Fleming, had allegedly threatened to "burn the car."

I had been negotiating with Ford Credit in good faith and then the rug was pulled right out from under my feet. The repossession was caused by Mr. Covington failing to communicate with his staff to let him handle the account. By doing so, my contract was breached by Ford Credit as Mr. Covington had misrepresented himself to me in requiring that I speak only with him in regards to the account.

I honestly believed after speaking with him just 6 days earlier that the account would be brought current within a week because I had negotiated a deal with Mr. Covington that I would pay half the outstanding balance if Ms. Fleming would come up with the other half; after all, she had possession of the vehicle 2,000 miles away from me. I was also told that because of her alleged threat that I would not be allowed to attend the auction to be held in approximately one month. As the Primary Borrower on the contract, I feel this was violating my rights. I cannot control her actions.

About a month later, I received a Statement of Sale from Ford Credit, stating the vehicle had been sold at auction back in Tennessee for a mere $3,400. I feel this was not sold at a commercially reasonable manner. The Kelley Blue Book gives a figure of $6,105 for a similar 1996 Ford Explorer in good condition. By Ford's own admission, 35 payments at $496 a month had been paid already, for a total of $17,360. The original loan was for $19,255. Late fees were paid in addition to this. They have now sent me a Deficiency Balance of $8,540.

In short, I feel that Ford Credit overstepped their bounds by repossessing this vehicle while I was negotiating with their Account Manager who had told me not to speak with his other reps and only to him. These same reps refused to let me speak with him only 3 days later. I am being punished for the co-borrower's actions as well as her inactions. I am the only one who negotiated with them, while she chose to hide her head in the sand. In addition, Ford Credit undersold the vehicle. They were tired of dealing with both of us because we did not respond to each of their 30 phone calls a week, so they pulled the plug prematurely to get even with us.

I have previously filed a complaint with the Better Business Bureau of Southern Nevada. The complaint was responded to by an Executive Assistant in Dearborn, Michigan named Tyler Stritchfield. His response was an obvious form letter with just my account number and name inserted; he did not respond to any of the items in my complaint whatsoever.

Because of the way this account was mishandled by Ford Credit management, I believe they should not bill me for this deficiency. All three parties have been to blame and it should be divided equally in thirds. It seems I am the only one willing to work things out fairly, and I never even had use of the vehicle. Also, Pacific Ford of Long Beach Calif, the dealer, did not give me a set of keys to the vehicle even when requested. The only keys were given to the co-borrower.


9 Comments

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d8a574d8, 2009-02-27, 10:43AM CST

Pay your bills and stop blaming the world on your inability to do so.

19e1d5b9, 2009-10-24, 07:23PM CDT

Read the finance contracts yourself. If you still feel in the right then get a lawyer to defend your position. You being way past due isn't going to help the case.

As for you being punished for the other person not paying, guess what, you're not in the right on that. You co-signed the loan you're 50% responsible for it.

Side note: You should have never co-signed for the vehicle in the first place until after a marriage.

f152ef96, 2010-04-02, 09:39PM CDT

The fact is you breached your contract by not paying your payments that you agreed to pay on. They are due on the date your contract said they were. It is your fault you got engaged with a stupid broad that things didn't work out with. You need to take responsibility for your stupidity!!! Ford Motor Credit is allowed to repossess the vehicle as soon as the contract is broken, but it seems they allowed you more time than they are required to, which probably put the loan into "charge-off" status meaning they are done with negotiations and need their collateral secured! They are covering their own ass because who knows what could happen to their vehicle, especially if that bitch of an ex-fiance threatened to burn it. If you are so concerned with working things out with them, call and work something out with the deficiency balance you still owe. And Kelley Blue Book has nothing to do with Auctions nor does it really state what a vehicle is really worth. What someone is willing to pay for the car is what the actual value is. Who knows it could have been trashed, and how would you know, you didn't see it for a while. It could have had engine problems, body damage etc.

I am tired of ignorant people like you and hope you are haunted with creditors for the rest of your life because of how STUPID you are!!! NEXT TIME PAY CASH FOR YOUR VEHICLES AND DON'T GET ENGAGED TO SOME STUPID BI*#H

f796a3f0, 2010-04-25, 04:52PM CDT

I think Ford Credit put you at ease once they decided to repossess the vehicle. First, they were within their right to take the vehicle, and once that decision is made, the best thing to do is not alert the owner of the car.

As for the Blue Book value, a 'repossession' automatically decreased the value of the vehicle significantly. That fact shows up on CarFax and other auto reporting services -- and people do not pay 'fair' condition value on said vehicles. Rather, they assume the vehicle was not taken care of and they certainly know it was towed away.

Add in the costs of the paper work, the taking of the vehicle, the costs of auction and the costs to Ford Credit add up quickly.

Co-signing a loan because another has bad credit is simply a bad plan. My current live-in GF thinks I owe it to her to co-sign. She's 34 and doesn't even know how many credit cards she is in default with.... and I'm going to co-sign? I don't think so.

935f82b6, 2010-04-25, 04:52PM CDT

I think Ford Credit put you at ease once they decided to repossess the vehicle. First, they were within their right to take the vehicle, and once that decision is made, the best thing to do is not alert the owner of the car.

As for the Blue Book value, a 'repossession' automatically decreased the value of the vehicle significantly. That fact shows up on CarFax and other auto reporting services -- and people do not pay 'fair' condition value on said vehicles. Rather, they assume the vehicle was not taken care of and they certainly know it was towed away.

Add in the costs of the paper work, the taking of the vehicle, the costs of auction and the costs to Ford Credit add up quickly.

Co-signing a loan because another has bad credit is simply a bad plan. My current live-in GF thinks I owe it to her to co-sign. She's 34 and doesn't even know how many credit cards she is in default with.... and I'm going to co-sign? I don't think so.

935f82b6, 2010-04-25, 04:55PM CDT

I think Ford Credit put you at ease once they decided to repossess the vehicle. First, they were within their right to take the vehicle, and once that decision is made, the best thing to do is not alert the owner of the car.

As for the Blue Book value, a 'repossession' automatically decreased the value of the vehicle significantly. That fact shows up on CarFax and other auto reporting services -- and people do not pay 'fair' condition value on said vehicles. Rather, they assume the vehicle was not taken care of and they certainly know it was towed away.

Add in the costs of the paper work, the taking of the vehicle, the costs of auction and the costs to Ford Credit add up quickly.

Co-signing a loan because another has bad credit is simply a bad plan. My current live-in GF thinks I owe it to her to co-sign. She's 34 and doesn't even know how many credit cards she is in default with.... and I'm going to co-sign? I don't think so.

6c69e0db, 2010-08-26, 12:02AM CDT

Hello,

I had something similar happened to me. I have a Mazda3 2007 financed by Mazda American Credit, who in turn is owed by Ford Motor Credit.

My Wife had an accident in the car (she was not at fault), and there was extensive damage done to the car. While dealing with the dealership and the insurance company, we (me and my wife) decided not to pay our premium because the car is worth more than what we owed, and we did not know if we were getting the car back. It took us 1 month and three weeks to resolve everything. Mean time we spoke with Mazda American Credit (which we have a contract with and not Ford Motor Credit), and got legal aid. The attorney told us that if the company was ok with us paying late, they were modifying the original contract and unless they were to notify us in writing, then we were ok.

We never got such a letter. Two weeks ago we got our car back, and last week we place payment for the overdue amount.

Yesterday morning 8/24/2010 we woke up to found out (through the police) the car was picked up by the lean holder (ford motor credit) which it is an entity we have not knowledge of or contract with. When we told them it was a mistake they would not talk to us.

The representatives would not even tell us where the car was, so we could get our personal items out of the car. I had my GPS (which I need for work), my baby's car seat, and many other things I need on a daily basis.

We had to contact the police again to get the location of the car.

We tried to talk to anyone for over 6 times, and their answer was always the same. They told us they were going to give us information on Thursday (8/26/2010). Finally, we contacted the attorney and got them the call us this morning to let us know we could pick up the car only after we paid the $400.00 repossession fees.

We tried to speak with someone today about this situation, and no representative would do anything for us. They even hang up on us once.

Finally we told them we were going to place a complain with the department of agriculture and consumer services.

They got a "supervisor" on the phone Her name was Ms. Slash (I don't think she was a supervisor or that was her real name, because she would not give us an id number or a first name. After not gaining anything we decided we were going to take it to the courts, so we paid the fees and just stop dealing with people who are obviously qualified to treat customers. Ford made a bid mistake, they don't care about people who are in default, but we had already paid off when they took the car. We were they customers and they did not care to help us. As consumers we know they have to provide us with their representatives information, and their license number, but they decline when we ask this information of them.

Ford Motors Credit is not a good company to deal with. I am asking you to please contact me if you have had this problem or such problem. If you don't think they have been fair to you as a consumer you and I have rights and they forget we are the ones who feed their children. I am going to pay off my debt and assure everyone I know will know about this story. I will contact the news, and have already filed different complains with the state and the BBB. Make sure you do not do business with them. They knew my car is a popular brand easy to sell and it was not upside down. I bet they thought they could just take it and sold it for the money we owed them and get that money back.

They even told us they already had a date to take to the auction.

By the way you have the right to go to the auction, so they have no right to keep you away from it.

And to those of you who think you are better because too good because you have never gone through something as frustrated as this. I hope you go through it, and you have to place a complaint as this one because no one helps you and you feel alone.

7d74b1f3, 2011-06-06, 09:40AM CDT

I have had similar dealings as well. I tried to find out where my car was being sold and they wouldn't tell me or the Arkansas Attorney General's office

mike b., 2014-09-21, 05:09PM CDT

Had a car repo by ford motor credit why are they threating a warrant when they have the car back and ive tried to make payments on the fees I owe them?

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