I got out of the Army in the beginning of March. In May, after I realized I couldn’t keep up with a $600 a month car loan, I contacted Nissan Motor Acceptance Corporation and asked if there was a way to get lower payments.
I explained my situation to them and also informed them I am living off of disability and unemployment, to include asking: is there a way to lower my payments until I find another job. The customer representative who “helped” me told me she could defer my payments for three months, i asked what that meant and she said they would take three payments and put it at the end of my loan. I told her that would be great and if that was the end of my pay issues, she said yes.
In August I got a job and started my payments again. From May to now I haven’t received a statement or any type of written communication for NMAC. I have requested to have my statements mailed to me or if NMAC can update my online information , they never did.
Fast forward to July 2011, I was shopping with my nieces for school when they repossessed my car. Since it was Saturday, I couldn’t get any information from NMAC. When I contacted them on Monday they said I was three months behind. I asked how is that possible and they stated I was behind for May 2010 to August 2010.
I informed them that it was to be deferred to the end of the loan, but they said I never signed the documents. NMAC will not give me back my car or let me pay the behind payments. NMAC said it was my fault for not following up on my document process, even though I wasn’t informed I was supposed to sign papers.
I have three credit cards that need to be paid off; the total debt I’m in is about $24,000. Also my credit report shows me being 120 days late on payment for Nissan.
When NMAC auctions my vehicle and leaves me with a huge payment due, can this be covered by a debt management plan? Or is this balance still considered a secured loan, which then disqualifies me for a debt management plan? Can I dispute the 120 days late on my credit report? I have documentation that shows I have been paying monthly, I just didn’t know I was three months behind.
If you have a credit or debt question you’d like to ask just use the online form. I’m happy to help you totally for free.Nissan Motor Acceptance Corporation Repossessed My Car. - Tammy by Steve Rhode