FC HoldCo LLC Consumer Loan Complaint

FC HoldCo LLC Consumer Loan department,

Vehicle loan Taking out the loan or lease Virginia

This complaint is the dishonesty of Flagship Acceptance Corporation, LLC and the predatory lending practices. -/-/- I purchased a -. purchase price was $19000.00 with a 13.49 % interest rate payments of $390.00 per month with a 72 month loan term. If Flagship records their calls as the claim to, Flagship would find that I 've asked over a numerous times about lowering the 13.49 % and I was told Flagship does not change the terms of their loans. Also I received a letter response from - basically saying the same thing. I tried to get the vehicle refinanced to avoid paying $28000.00 for a $16000.00 vehicle because the - is considered a used vehicle and is difficult to refinance because the interest rate caused me to be underwater in my loan. Although I paid late due to situations beyond my control. From -/-/- to -/-/- Flagship received over $7700.00 from me and I still owe $17000.00. I received a call from - office -/-/- regarding my amount due and interest rate and Flagship agreed to drop the interest rate to 8 % payment $330.00 with the a 72 month term. When I informed Flagship that I filed chapter - the representative told me that they will not go lower than 8 % I asked if she could submit a request for a lower interest rate. My lawyer - Esq.receive a letter from Flagship agreeing to drop the interest to 4 % and reducing my payment by $2.00 per month 72 months. The blue book value of this vehicle is $8000.00 and if I surrender the vehicle that the only amount legally that Flagship could sell this vehicle, yet they want me to pay $17000.00 for this vehicle. In my opinion this is not an ethical business practice similar to the pay day loan/cash advantage trap. Also Flagship Credit Acceptance LIED when they say they Flagship will not under no circumstances lower the interest rate and change the terms of the loan. A new interest rate a monthly payment was changed was offerred twice