GM Financial Consumer Loan Complaint

GM Financial Consumer Loan department,

Vehicle loan Problems when you are unable to pay Problems when you are unable to pay Illinois

-/-/- I purchased a vehicle. My first purchased vehicle I paid off after 4 years with a 14.9 % interest rate. The lender of my second purchase was Americredit - Later, bought by GM financial. After paying $20000.00 of the $25000.00 loan with a 19.9 % interest rate and a $340.00 monthly payment. My vehicle was repossessed. For 2 years I paid on time, initially I was told after paying on time for at least 2 years I could refinance. That never happened. I became unemployed from -. I informed Americredit/ GM financial of my employment status and continued to pay what I could, when I could in a timely manner. I would pay what I owed along with any late fees incurred. -/-/- I worked a temporary job for the winter. I was able to catch up on my payments. I even made early payments toward my principle amount. The lender regularly accepted post-dated payments over the phone. On several occasions the lender would refuse to take partial payments, including the website. My vehicle was repossessed despite my attempts to remain in good standings with the lender. The lender has now sold the debt to another company, further damaging my credit. I have recently learned about - and how minorities were targeted for higher loans. Online I have discovered many others who have went thru the same process as I have.