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Regional Acceptance changed the contracted monthly payment amount with a bait and switch action. First, I financed a car through Capistrano Nissan in San Juan Capistrano.

The car was classified as a "certified car". I had a troubled past through a bad divorce and needed a car desperately. The car was a lemon. Nevertheless, the loan was financed through Regional Acceptance at a high interest rate.

In the contract I had agreed to pay $500 per month. A few months of timely payments, I was advised in a standard invoice to make a higher payment. I wasn't sure why, but I just paid it. I later contacted Regional Acceptance for an explanation.

I was directed to different offices. The office in Southern California could not explain what happened, only that I needed to make my payments. I had left multiple messages for the local office manager but he was always unavailable. That office has since closed.

In the meantime, the car continued to breakdown. I attempted to return the car after having it for thirty days and the transmission going out. The car went from $20k to $8k. Shortly afterwards the dealership had closed.

I tried pursuing Nissan Capistrano but unsuccessful. I continued to make payments but I could not get a response to why I am paying more that what was on the contract. After I tallied up what I paid over the course of the years, the car was paid off. I contacted the Regional Acceptance payoff line to learn that the $20k car loan had increased to $40k.

Of course, I was quite perplexed as to how this happened, so I requested for several months account statement. At that time I stopped making payments. After several months of request for just a statement and threatening to get an attorney, I was given a document that I could not decipher whatsoever. It has been confirmed by an attorney that there is a breach in contract.

The attorney also found that the increase of payment was due to lack of insurance. I've had insurance and provide evidence within the first week of having the car in my possession. Copies were provided to the local office. It is evident that Regional Acceptance has used predatory lending practices and breach in contract.

With all of these complaints I wish an attorney would consider a class action suit to stop Regional Acceptance for continuing to aggrieve those that have less than perfect credit. This company has damaged my credit and aggrieved me tremendously.

Review about: Regional Acceptance Loan.

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If you paid late or not at all, then YOU racked up more interest. The APR was determined by YOUR lack of credit worthiness.

A voluntary repo is exactly the same as any other repo. Nobody forced you to do business with them do the "predatory lender" garbage is nothing more than the whining of still another habitual deadbeat who blames everyone else but the ONE PERSON who brought all these consequences upon themselves...Y-O-U!!!


Let me see if I can help someone out with my response. I am an ex employee of Regional Acceptance Corporation. First off I want to let you know that the company is a sub-prime lending company. This means that they are offering you a second chance to get your credit in good standing so that you can be treated like a golden child. Which basically mean you get a higher credit score. Some of the companies practices are very questionable and that's part of the reason I no longer work for them.

You have to understand that with any business it's all about the money and the consumer is left with any other problems. Regional Acceptance is one of the worst employers and worst place to get a car finance through. Your better off riding a bike then dealing with anyone from there office. The dealership and the branches work together in getting over on people with poor credit and who do not read before signing the documents. The excitement of getting approved blinds your from the reality of what is going on.

Well let me give you the in/outs first of all they do not repo car's until your are at last 90-days behind and in some cases 60+. 90-days means you are more than 3-4 payments due and 60-days means 2-3 payments due. So if they call you from a cell phone talking about they are coming to get your car. Let them know you will have it ready for them and hang up. Also, write down the numbers that they call your from and if possible record the phone call on your cell phone or house phone. These things will help you with a lawsuit against them for illegal lending/collection practices.

Also, be mindful of when your due date is and how many days before you received a late charge. Each state is different in the days allotted before a late charge is add to the account. I know most of you are thinking it's 10-days but it's not. VA is only 7, TX is 14, and NC is 10-days so check to verify this information.

The loan you are getting with RAC is a simple interest loan. So if you miss your payment on the due date that means for each day you are late that is extra interest. Some of those account collected extra interest that was more than the late charge. When contact RAC 9 times out of 10 your not speaking with a customer service representative as that dept. only has about 8 employees. You will probably be speaking with a rep from the collections dept and yes they can talk to you any kind of way they feel like it.

It's best to get ahead and stay ahead if you you have to deal with RAC. There system is designed to watch you get behind and stay behind. Never take there deferment offers or what they call "A payment holiday" try to always make the payment on time. If you can avoid it do not finance more than $10 grand with RAC. If you check out there website they offer a payment calculator which show you how much your payment will be with any interest rate and the longer you finance the vehicle for.

These are somethings I use to help customers with when they called in and if it took me an hour to help a customer understand how they got screwed I did. If you can refinance or trade after a year or so do just that. Regional Acceptance is out to make money just like any lender is.

I hope this helps and if you have any questions feel free to let me know.

to Voice of Reason #764420

What happens if you do voluntary repo with them? What is the normal outcome?

Does the car really go to auction and you pay the difference?

Or do they come up with a price you still owe?

to Voice of Reason #1563126

What's the deal with the bank needing tax transcripts

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