|
Chrysler Financial did not allow me to reaffirm loan
|
Jun 18, 2008 Chrysler Financial review by Esmith |
|
|
Hello all,
I work in the car business, at a car dealership, and I guess I take most of the complaints I see here with a grain of salt. Many seem to be part of the ordinary way of doing business, and I can understand why Chrysler (or any lender) acts as it does in many of these cases.
However, I did encounter one problem with my loan on my soon-to-be-paid-off 2003 PT Cruiser. I was forced to file bankruptcy last year, and I asked my lawyer to send a letter to Chrysler Financial expressing my intention to reaffirm the loan. I saw the letter; the lawyer insisted it was sent -- but he said Chrysler never responded. I never received a communication from Chrysler myself.
Last month, as the car industry hit doldrums thanks to $4-a-gallon gas, I decided that my best chance of making it through the month was to see if I could skip a payment. Chrysler offers that option, once a year.
Well, I was told that this was impossible, because I had been through a bankruptcy, and the loan was never reaffirmed. Loans that are maintained in a bankruptcy do not qualify for the one-skipped-payment-a-year option. I asked whether they had received the letter from my lawyer, and they said no letter had been received. They also said they had tried sending numerous letters to my lawyer. And finally, they said that reaffirmation was not possible at this point, because the bankruptcy had been finalized.
I can understand why the loan cannot be reaffirmed at this point, but still, it strikes me as odd that my lawyer (whom I trust) and Chrysler Financial would have two wildly varying stories.
At any rate, I guess this goes to show that I should have probably made a call while the bankruptcy was in progress, just to see what in the heck was going on with that loan of mine.
On the whole, I would say that my experience with Chrysler Financial has not been the horror story that other people have reported. Yes, Chrysler has reported "late payments" on my record -- but since I actually did make those payments late, I got what I deserved. The funny thing here is that since the loan was not reaffirmed and was simply maintained in bankruptcy, I don't get the hit that I would have gotten if the loan had been reaffirmed. Hey, Chrysler Financial! You were asleep at the switch!
Anyway, just four payments to go...
E. Smith
 Quote this article on your site | Views: 351
1. Written by Erik Smith, on 21-08-2008 12:51
No, it's not really a horror story. More an irritation. But one thing deserves clarification. During the bankruptcy process I called Chrysler to inquire about the status of the reaffirmation request. I was told they could not tell me anything because all communications had to be with my lawyer. I then asked them to confirm that they had received the letter from my attorney. They said they couldn't even tell me that. I had confirmation through my attorney that the letter had been sent. So what more could I have done? I guess that if I'd understood reaffirmation was impossible after a bankruptcy is finalized, I would have asked my lawyer to send another letter saying, hey, what's up, how come you haven't responded, are you asleep at the switch or what? But that's water under the bridge. Let's just say that Chrysler muffed this one.
Erik Smith
|
2. Written by David, on 21-08-2008 12:16
You don't have a contact with this company anymore because you filled bankruptcy. Therefore, it is impossible to amend the contract aka skip a payment aka extend the loan. That is why Chrysler couldn't give you one.
You also took your time in sending reaffirmation paperwork to Chrysler. I understand that your lawyer sent it but things do get lost in the mail didn’t you check it at least once? It is your responsibility I had mail stolen in Seattle recently…this is hardly a horror story…???
|
|
Consumer Forum is another great place to discuss consumer concerns NOT RELATED to this article. |
|
![]("http://www.pissedconsumer.com/templates/pc2/images/spacer.gif){kind=spacer}
Comments
Comments (2)
