Judy Martin said:
I have a friend who has paid $33,000 over 6 years on a $16,000 loan and due to your usury, has a payoff amount of $3400. She is unemployed and her husband was laid off. She was told "too bad" and the people told her she was charge DAILY finance charges. How do you get away with this? I am trying to help her, and plan on exposing your horrible practices, I am paying for her to get an attorney. I will write letters to the editor, and put notices on-line to expose you--
I am paying on a vehicle thru unveil and I pay when I want to. Why don't they threaten me with repossessing my vehicle? OH, could it be because we bailed their asses out. I have already bought a Toyota and will only own a Ford made in America. I hear they need 50 billion again. I am going to try to make myself pay my notes. I don't know if I am really that stupid. I am late on every payment and my credit is great.
YES TRUE TO THAT, we are paying twice the amount that the car is worth.... when they call and ask what color is the car. and they will not make any assurance on what will happen. it is their way to SCARE YOU. what i did was call the department for repos. and their answer was " DONT LET THEM INTIMIDATE YOU, your car is not in danger of it being taken back" . so my message is just like the repo department said "DONT LET THEM THREAT YOU".
debra chapa said:
i made three payments in janurary and at this moment i have heart problems and have not paid august. they said i have used up all my extensions as one being moving my pay date and now that i owe for august and now september they are telling me they will repo my car. i told them i can make one payment on the 30th and he said no that i will be getting a cure letter. do these people not understand that im trying and a change in a paydate should not be considered an extension. i only get 674.00 and my car payment is 496.00 and he tells me this is a business agreement not a personal but if it were him he would understand. i need my car to go to the dr and im trying to pay.
My car was paid off through my Chap. 13 bankrutpcy plan in January, I have still not received the title to my car! The trustee has requested it 3 times! What do you have to do to get the title. I'm beyond frustrated and since I've been researching Nuvell I see that they have a pattern. Not sure anyone at Nuvell reads these post or the complaints against the company but I feel a little better knowing that I am not alone in this problem
Renee Washington said:
I have a loan with Nuvell for a 2005 Montana. When I got the car I was working two jobs one I loss in Nov 2009 because of the ecomony. Almost at the same time I was diagnosed with stage three cancer. I called them to make arrangements to see if I could refinance the last year payments at a smaller amount to help be be able to pay my copays while I was in treatment. They refused our family has bought nothing but GMAC products for six generations and we the people bailed your company out when you were in crisis, my taxes helped you and you will not help those who have supported you over the years. Tell me why we bail you out?
I am now 62 days behind and I have offered a 300 payment for today but offering payment to be made on dec 9 and dec 16th but these people are not accepting that. Idont know what to do! they are crazy and are threatening a repossesion which I dont understand why since im offering these payments. the lady i talked to claimthey need money by tomorrow!
cadilac djl said:
I too am having a diffucult time contacting these people just to see how ,where and when I will receive my title. My car has been payed off 3 yrs. I have no contact number to call and discuss this matter to.
i have been disdosed with cancer. i have been out of work and trying to catch up on my three months in carnote. the people at nuvell talk to u kike u are nit a humzan being. i can make a payment on the 1st of june and another on the on the 10 the june that would put me 1 month behind. i do to go back to work on the 19th of june. its hard and i need the car to go back and forth to my cancer treatment. yes i have used up my extension.i Have had this car since 2008 and i hope that national can give me alittle help. i wouldnt just not pay for something thats not mines.
Tariq Ali-Bey said:
In 2012, Ally, settled part of Szymoniak?s suit for $95 million as part of a $25 billion national mortgage settlement. Despite settling out of court, none of the banks admitted wrongdoing. Nuvell is a subsidiary of Ally and if you go on Ally's website they advertise that they securitize wholesale and retail, new and used car loans. When a loan is securitized, it is no longer a loan...it becomes a stock. There are some elements surrounding the practice of securitization: 1) unless the consumer is informed at the time of signing that an investment trust, using their name, is going to be established, fraud due to non-disclosure voids the contract; 2) when a consumer signs a sales contract for a home, car, loan, or credit card, their signature produces the funds for the loan because the banks can't loan their credit or depositors money, so the bank accepts and deposits the application and, according to GAAP, it becomes cash so, actually, you have made a deposit into the bank and they have loaned you NOTHING!; 3) once a loan is converted to a stock by securitization, no debt exists, no loss has been suffered by the bank and no claim can be brought into court to recover damages; 4) the profits made through the sale of asset-backed securities are not disclosed to or shared with the consumer despite the fact that the consumer has a claim for the funds and; 5) Rule 17 in the Federal Rules of Civil Procedure states that all cases must be prosecuted in the name of the real-party-in-interest. Your loan is part of a bundle of loans that is owned by thousands of investors. When the bank names itself as the one prosecuting the case, they are committing fraud. That's all folks!
Tariq Ali-Bey said:
Nuvell STOLE my car in 2005 after I wrote them a letter demanding that they prove that they loaned me money. When a consumer requests or demands proof of such, the account freezes until such proof is provided. They did not respond for ninety days, said the loan was defaulted, and drew me into a legal battle. To make a long story short, the STOLE my car without having won a judgment and refuse to answer any questions about their fraudulent practices. I'm going to file a formal complaint to the Federal Trade Commission for violation of Section 5 of their which says: Federal Trade Commission Act
Section 5: Unfair or Deceptive Acts or Practices
Section 5 of the Federal Trade Commission Act (FTC Act) (15 USC 45) prohibits ??unfair or deceptive acts or practices in or affecting commerce.?? The prohibition applies to all persons engaged in commerce, including banks. Under section 8 of the Federal Deposit Insurance Act, the Board has the authority to take appropriate action when unfair or deceptive acts or practices are discovered. Responsibilities for enforcing the prohibition against unfair or deceptive practices as they apply to state-chartered banks are spelled out in a joint statement issued on March 11, 2004, by the Board and the Federal Deposit Insurance corporation.
That statement, which is included as an appendix to this chapter, describes in depth the legal standards for unfair and deceptive acts or practices, discusses the management of risks relating to unfair or deceptive acts or practices, and provides general guidance on measures that state-chartered banks can take to avoid engaging in such acts or practices, including best practices.
The legal standards for unfairness and deception are independent of each other; depending on the facts, an act or practice may be unfair, deceptive, or both. The legal standards are briefly described here.
Unfair Acts or Practices
An act or practice is unfair where it ? Causes or is likely to cause substantial injury to consumers,
? Cannot be reasonably avoided by consumers, and
? Is not outweighed by countervailing benefits to consumers or to competition.
Public policy, as established by statute, regulation, or judicial decisions, may be considered with all other evidence in determining whether an act or practice is unfair.
Deceptive Acts or Practices
An act or practice is deceptive where
? A representation, omission, or practice misleads or is likely to mislead the consumer;
? A consumer?s interpretation of the representation, omission, or practice is considered reasonable
under the circumstances; and
? The misleading representation, omission, or practice is material.
Tariq Ali-Bey said:
They sold my SUV for $10,000 at an auction and are claiming that I owe them over $17,000. They have my signature on the loan application that has been converted into a stock that they're making money on as the servicer, they got my $2,000 down payment, they got, two years of $600/month payments, and they got the money from the auction sale despite the fact that they never loaned my any money because they create money out of thin air. In legal terms, that is unlawful conversion and unjust enrichment. I'm suing!!!!