I have a car. Never late. Usually overpay. Recently, the company was sold. I received notification only because I logged on to the website and the company info changed. I made the payment and thought no more about it.
Three days ago, I received at least 10 calls. After work, I returned the call. It is the "new car company." Apparently, I owe $1800+ in car payments. For months someone else's car payments were made to my account. Those payments were rescinded. I have print statements from the company stating my next payment was not due until August and I was current. They are now accusing me of intentionally not making payments. Apparently, the error was just noticed within the last month. Noone called and the rescind of payments now has me grossly overdue. Even though I have been making payments all along. The bottom line: I dont have $1800. I have contacted my bank and have an appointment for them to do "research" on all of my payments. The new car company's contention is that I should have known I wasnt making the payments when the balance was decreasing and I should have called them.
Truthfully, I just pay the bill. I rarely look at the balance, or payment history. I never keep bank statements, or print them out, or get confirmation numbers, or keep records of payments. I am totally paperless in all of my bills. I do have a recent print statement from the new company stating I was current. When I pay my bills, I click the website, make the payment, see when the next payment is due and log off. When I went to the website, it would state--my next payment was not due for some time because of my consistent overpay.
My credit in has tanked from 700 to 510. I will never finance another car. I have no plans to ever own a home. I only have a checking account because my careers demand direct deposit.
Apparently, quite soon I will be car free because the car is going to be repossessed.