I had a loan from American General for $5,000.00 with my vehicle as collateral. I made my payments every month for almost 2 years, but fell behind on few payments due to illness and loss of income.
I was originally $800 past due, but by making monthly payments above the minimum I reduced the past due amount to $300.00. I also expressed to Nancy that I intend to continue to make payments and catch up on the past due amount. Well I end up in and out the hospital for 2 weeks, and I come home one morning to find my car repossessed. I called American General, who basically told me since I didnt return any of their phone calls they repossessed my vehicle.
They refused to work with me. I offered to pay the past due amount, next months payment, and the repossession fees, but they were downright rude and refused to work with me. I have to pay off the entire balance of my loan over $8, 000( due to the ridiculously high interest rate) within 7 days to get my vehicle back or it will be sold at auction and American general will keep any profit made off the sale of my vehicle. They took my $16, 000 car to settle a $8, 000 debt when I was only one month behind and currently making regular payments to catch up.
I encourage anyone considering a loan through American General to find another lender.
They wont work with you, they are out to rip people off. They will also harass you with daily mutiple phone calls to your home and place of employment, they also come to your door demanding payment.
Product or Service Mentioned: American General Finance Loan.
Monetary Loss: $8.