Problems with car auto-payment?
(2011-01-08 21:51:50) 1. Says: I pay 150 bi-weekly, automatic withdrawal - which has been working well for the last few months. My last payment was 11/29, next due on 12/14. Well, 14th passes - no payment goes out. So, I figured maybe it was taking some time to process. Well, this morning in my mail I receive a notice saying my payment is 11 days late. The paper claims it was due on the 10th, for an amount of $178? Whats the deal? I am not financed through the dealer, they found finance for me through a bank. So, I tried calling the bank. No luck what-so-ever. Every option on their menu loops back to the main menu. "Welcome to Mid-Atlantic Finance! Press blah blah for blah blah".. Every option you press "Connecting, please hold... Welcome to Mid-Atlantic Finance! Press blah blah for blah blah" over and over for every option. Whats the deal here? That is not the price I pay, nor am I going to. Going down to the dealership tomorrow, but figure I would post to see if anyone had similar issues before and how they fixed it. Hoping the dealer will do something. I will be very upset if they try to put this against my credit. I would of went to the dealer sooner but, I have been snowed in and they rarely answer their phones.2. Says: The dealer won't have any idea. Maybe their business manager would contact a loan officer from the lender. They do have direct numbers to the loan officers. The 28 dollars would be a late fee that would be forgiven if it is the lenders mistake. First check and see if the funds were available on 12/14. If not the lender doesn't have to try again to get their payment. As far as your credit report. Nothing gets reported unless your 30 days late.3. Says: You're not going to accomplish anything with the dealer. Your problem is with your finance company. If there's an office in your city, go there tomorrow and correct the problem.4. Says: Who initiates the auto-payment ?If its the lender, they might remove the late fee if its THEIR fault.
Also a $28 late fee for a $150 payment sounds high. I thought there was some kind of limit on late payments.
Bottom line is, you knew or should have known the payment wasn't made and if you had taken action sooner, you might have a better case.
But, at the same time, I can see how you would get comfortable and not expect it to be a problem.
Cant imagine the dealer will be much help. This issue is either with the lender or the bank. Tag: Problems with car auto-payment?