Colin Farrell

Review of ALLY FINANCIALS – DETROIT, MI

Once you have a late fee on your auto loan, it is ...

Once you have a late fee on your auto loan, it is impossible to pay it or any subsequent late fees off. The bank will continue to take the money you sent for late fee(s) and apply that to your principal/interest payment like a floating balance. So, if your car payment is normally 300 dollars and you have outstanding late fees in the amount of 150 dollars your current past due amount will show as 150 dollars in late fees AND 150 dollars in regular car payment. So, (this is the kicker) all the money you paid to cover said late charges, HAS NEVER BEEN USED TO COVER THEM!!! They applied all of the extra funds toward the next payment (ad infinitum). Such that now I owe $150.00 in late fees from 10 months of being late. But my perpetual next payment gets less and less by $15.00 every month.

I've tried everything to get rid of this cumulative late fee fiasco. Including mailing in the total amount due on a mailed late notice with balance fees and charges completely itemized with a total amount due in a box next to a box with the words payment to be made: where you transcribe the amount being paid off of the check or money order. Then you tear the payment slip off and send it back in the mail...

The bill... with the check... that covers ... everything on the bill, that was itemized....in a single envelope.
Payment clears... ALL THE LATE FEES STILL EXIST SOMEHOW...STILL... BUT YOU JUST PAID THEM... BUT THEY JUST WON'T DIE...

SO, you phone the helpful bank people and scream your situation at them for 45 minutes, they suggest to you that you just have to get "current" and make a phone payment and all this misunderstanding will evaporate.

You get the $, you call the helpful phone bankers back, you make a phone payment in the total amount currently due. Plus a fee to western union (for processing said payment)
You ask them to confirm that ALL OUTSTANDING LATE CHARGES HAVE BEEN PAID??? They verbally confirm this payment and the fact that the current amount owed in your car note is $0.00

The next month....?
ALL OF THE LATE CHARGES ARE BACK... along with the weird incomplete actual car payment (that IS JUST THE ACTUAL CAR PAYMENT LESS ALL THE MONEY IVE PAID IN LATE FEES OVER THE COURSE OF THE YEAR)

CONCLUSION:
ALLY LATE FEES NEVER EVER GO AWAY BECAUSE THE BANK WILL NEVER APPLY YOUR PAYMENT FOR THE LATE FEES TO THE LATE FEES.

*Noise of me ripping my remaining hair out*