Does a lienholder have the right to charge interest on a for
by Guest » Thu Nov 25, 2010 01:07 am
The finance company force placed me with insurance but they have added a lot of extra charges to the amount of the actual policy, aside from my regular interest on my loan
Total Comments: 3
Posted: Thu Nov 25, 2010 02:15 am Post Subject:
You'd need to read the terms of the contract with your lien holder.
Posted: Thu Nov 25, 2010 02:25 am Post Subject:
The lender can add all sorts of fees and expenses . . . if they are specified in the loan contract. That's the document that controls. When it comes to auto insurance, you are FAR BETTER OFF finding your own coverage than waiting for the lender to do it for you. Your lender's policy is mostly meant to protect them, not you. And you get to pay for it.
Posted: Fri Nov 26, 2010 11:46 am Post Subject:
We don't really take the trouble to read through our offer documents while signing up. In addition, we don't clarify any of our doubts beforehand. We'd only listen to what's being read out to us to make it more attractive to us, and then we'll close the offer-documents in a file. What more can we expect when things actually go against our expectations!
Posted: Thu Nov 25, 2010 02:15 am Post Subject:
You'd need to read the terms of the contract with your lien holder.
Posted: Thu Nov 25, 2010 02:25 am Post Subject:
The lender can add all sorts of fees and expenses . . . if they are specified in the loan contract. That's the document that controls. When it comes to auto insurance, you are FAR BETTER OFF finding your own coverage than waiting for the lender to do it for you. Your lender's policy is mostly meant to protect them, not you. And you get to pay for it.
Posted: Fri Nov 26, 2010 11:46 am Post Subject:
We don't really take the trouble to read through our offer documents while signing up. In addition, we don't clarify any of our doubts beforehand. We'd only listen to what's being read out to us to make it more attractive to us, and then we'll close the offer-documents in a file. What more can we expect when things actually go against our expectations!
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