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Alliant Credit Union is Coming After Our Truck and Charging Us Big Fees

Written by Steve Rhode

Question:

Dear Steve,

We purchased a truck from Alliant Credit Union they immediately stated we didn’t have insurance. We sent them our Geico insurance they still added over 5k onto our balance and reported a late payment. We were in the midst of trying to refi. We are currently in litigation and they have reported another late payment yet they refused to accept our payment. Their lawyer is shooting down everything. With legal jargon

Do you have anyone in Phoenix az that might be willing to help at a reasonable price? Not looking for a handout just honest and fair.
2. Can they continue to charge us late fees if the case is in litigation?

Jackson

Answer:

Dear Jackson,

All I can do is answer your question with the information at hand. Also, I am not an attorney and can’t give you legal advice. A good place to look for an experienced consumer attorney with an automobile focus in Arizona would be here.

I can see a reason why the Credit Union might add forced insurance to your account if the insurance policy you presented did not list the Credit Union as a lienholder/loss payee. Without that the Credit Union might feel they aren’t covered and could put a forced insurance policy in place.

As another credit union said, “If you do not provide proof of insurance coverage within 30 days, Advantis will purchase coverage and add the cost of the premium to your loan. The coverage we purchase may be more expensive and will only cover our interest in the collateral.” – Source

But on the Alliant Credit Union website, they say:

Ultimately the question about the insurance is going to come down to if the Geico policy you provided conformed to the Credit Union stipulations on coverage. If not, then they probably moved to add the much more expensive forced policy.

I’m not aware of any postponement of payments or the charging of interest when a civil case is filed. So until the matter is determined by the Court, you should continue to make your regular payments.

But talk to an attorney licensed to practice law in Arizona to get a legal opinion.

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About the author

Steve Rhode

Steve Rhode is the Get Out of Debt Guy and has been helping good people with bad debt problems since 1994. You can learn more about Steve, here.

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