Consumer complaint received 2023-10-23
Company: CREDIT CONCEPTS, INC.
State: OR
Product: Vehicle loan or lease
Sub-product: Loan
Issue: Repossession
Sub-issue: Company communicating payment assistance or payment extension options

Complaint:
I am a single mom on XXXX and my car was stolen and I owned it outright but the person who stole it totaled it. I needed a car desperately so I went to the dealership with my car and they gave me XXXX bucks for a XXXX XXXX that only had some drive line issues so it wasn't totaled like I was told. They set my loan up with this credit concepts company who has given me a rate at 30 % and that is the lowest they go according to them. So the car had XXXX miles on it and is a XXXX and they knew I was a XXXX XXXX so it's been 2 years I haven't paid really anything on the principle because the interest rate is so high the car now has over XXXX miles on it and breaks down all the time I have had to put a lot into it for repairs I lost my place that I lived in and now live in my car. I have explained this to the lender and have asked several times for a resolution or a re financing but they said I am already at their lowest rate. So I took out XXXX dollar loan for this car and I still owe like XXXX on it and XXXX XXXX XXXX for this car when I bought it at the mileage was less than what I have already paid on the car with my payments being XXXX dollars a month and I am 2 years into the loan still owe XXXX and I am now about XXXX dollars behind on my payments just gave them XXXX dollars and was told if I didn't give them another XXXX again this month they were repossessing my car because they couldn't wait till XXXX for another XXXX dollar payment. I can't refinance the loan because I am so underbelly on it and I don't have XXXX Dollars to put down on the loan to lower it so I can trade it in or refinance the loan. So I am going to end up with a car that doesn't run and still making outrageous payments on and not be able to get another car which is something I can not go without due to my XXXX and my daughter 's XXXX I need my car not only to do my part time job as a XXXX XXXX but to also make it to medical appointments and get my daughter to her medical appointments and getting her to and from places for medical things she has to do and without a car it would greatly disrupt our lives and lower our quality of life especially because we live in our car now and this company that has gotten way more then what this car is worth is now threatening to come take it from us if I don't give them another XXXX before the end of XXXX when I have already given them XXXX this XXXX. And to top it off they call my phone probably 25 times or more a day harassing me and threatening me with taking the car and filing suit against me. I have paid them everything I can when I can I have kept in communication with them but non of that matters and they lie about having options and they lie about being willing to help and I can't imagine how many of us their are our there that company 's like these guys and this car dealership sell a car way way above the price the car is worth knowing very well that the consumer will never be able to one get out of the loan ever and two go underbelly on the loan within the first 6 months or in my case I was underbelly on it before I drove it.off the lot because they sold it to me at way above its value and no one monitors these lenders or car lots and they put people in desperate situations from things out of their control and take advantage of them and put them in an even worse position then they were in when they came to them and not only that but they also paid me way under what the value of my XXXX XXXX XXXX was worth and lied to me about it being totaled and how they were doing me a favor even paying me XXXX for it. This if not illegal business practices not only by the car lot but also by the lender. It is definitely a moral disgrace to the consumers they swindle and it should also be an embarrassment for the states that allow this kind of crooked lending to its consumers who they are to be protecting against things like this. This company is willing to put a XXXX mom and child on XXXX XXXX for a car that has been paid in its value and well over its value already and is unwilling to except the payment arrangement I told them I could do and that it was leaving me literally with nothing else so they go home and rest easy while placing a mom and child on the streets over XXXX bucks that they didn't get of the XXXX they were demanding to get in XXXX because all I could afford to give them was XXXX and I told them another XXXX in XXXX and they could add another XXXX to each regular car payment till the balance was caught up and they refused this and said they will need me to tell them where the car is so they can come get it as we are homeless due to a domestic violent situation and having to leave with just our clothes in back packs and we lost everything else we have ever owned since I was XXXX and moved out I literally lost everything other then the clothes I was able to pack into back packs and now live on the streets in my car with my health declining at an alarming rate that at this rate I won't even be alive to pay off this loan even if I made all my payment of XXXX dollars every month with 30 % interest less then XXXX dollars goes to the principle of the loan. This is an impossible situation to get out of and all this has happened to me of no fault of my own and it all started because someone stole my car and I was told that it was totalled and not fixable but yet the dealership had it on their lot not even a month after they took it from me for XXXX bucks and then placed it for sale for over XXXX bucks. How is that not bad business or shady business not only on a lender who accepted that as a reasonable payment for my XXXX and went along with thia but then sold me a car that was way over priced. I don't see how anyone can't see this as illegal activity on both the lender and the car dealership. They have made more money off of me then I am worth in my entirety and they did it with a smile on their faces acting like they did me a favor by ripping me off lying to me and putting me into a car they knew wouldn't last and a loan that I would never be able to get ahead of or out of without a large sum of money to put down and knowing I am XXXX knowing that I wouldn't ever be able to do that they got away with taking my horrible situation and turning it into an even worse one and being my worse nightmare of harassing phone calls and threats on a daily basis to the point that I do not take their calls and I will not talk to them other then through email because no one should have to listen to threats daily when they are already suffering enough and going through enough already.

Company public response: Company disputes the facts presented in the complaint
Company response to consumer: Closed with explanation