bad credit cards

Frankie"
Complaint_against: Guaranty Bank Milwaukee
Complaint:
This is not a credit card story, per se, but it involves a financial institution (using the term loosely) involved in predatory practices.

Back in April of this year I was involved in a total-loss car accident with a vehicle that was being financed through Guaranty Bank. Unfortunately, due to the high mileage I put on annually and the negative equity I had going into the finance contract, the amount had a gap of $1086.77. (This amount was verified online through the bank's official website.) Insurance covered most of the cost.

Anyhow, once my insurance settled what they thought was the fair market value with the bank, Guaranty started bugging me for the balance of the money. At the time (early May) I forgot about my GAP coverage I purchased upon loan inception. (These things happen when you get married and move.) The calls from Guaranty started coming in fast and furious, even three and four times a day, with one day SIX calls being logged. Guaranty was actually "shocked" when I told them about the total loss (as if they couldn't figure it out when they received a settlement check from my insurance). Certain financial situations at my household prevented me from making payments, including temporary loss of my income, plus the on-going loss of my wife's income due to a long-term illness (she has not been able to work since March of this year). Guaranty has NOT ever once inquired as to my own health upon hearing of the accident or ever since, nor have they even suggested that I could make other arr!
angements. Heck, they didn't even SUGGEST to me the possibility that I had GAP coverage on that vehicle (which if those doofuses had looked on their copy of the contract, it is CLEARLY STATED as such).

Recently I located the GAP paperwork and made the necesary calls to those people to begin the claim, trying to get Guaranty their money and earn some peace and quiet. I was instructed by the GAP administrator that it is GUARANTY'S responsibility to provide necessary paperwork pertaining to the loan; however, Guaranty is INSISTING that it is NOT THEIR PROBLEM. Fortunately, my auto insurance adjuster and the selling dealer's finance manager have committed their aid to me in getting any and all paperwork missing (or not provided by GUARANTY).

Here's the kicker: as stated earlier, my gap in coverage is just under $1100. Guaranty is claiming (in yet another phone call this afternoon) that I am responsible for the $2900 in NEGATIVE EQUITY that they claim I owe under the original contract. Well, dear reader, I HAVE said same contract and it is CLEARLY INDICATED that the negative equity is INCLUDED in the amount of money financed through Guaranty.

About the only lesson I learned from all this is to NEVER DECLINE GAP COVERAGE on any financed vehicle. My replacement vehicle has GAP, thanks to an alert seller and my darling wife's insistence. I also NEVER toss ANY paperwork, check settlements, insurance papers, etc. You never know when you need them.

As far as anybody else from the Midwest that deals with business with Guaranty Bank Milwaukee, I would recommend they try to refinance with someone else. If you're in the market to purchase a new car and desire financing, tell your dealer that Guaranty is a harrassing, predatory lender and to avoid them.

Tom
EmailAddress: mjsnabe@yahoo.com
Complaint_against: Guaranty Bank

Complaint:
I was reading a complaint about Guaranty Bank from "Frankie". I will completely agree with him and encourage ANYBODY thinking of doing business with them to reconsider it carefully!
It is the worste run financial institution, with NO customer service. I spent weeks trying to resolve an issue with them due to a check THEY lost! I gave them the tracking number, who signed for it and when, yet I kepy getting harrassing phone calls for collection. Weeks later they acknowledged they lost it and we had to send another. Along the way I experience the most pathetic excuse of customer service and management response than I have ever experienced.
If you don't believe me, check out the Wisconsin Better Business Bureau website and check out all of the complaints filed against them!

Riquena

Racine,WI 53405
alecia_santiago@hotmail.com
Complaint_against: Guaranty Bank

Complaint: I was recently charged "overdraft fees" on my account with Guaranty Bank. When sending in an email to customer service to request the fees to be removed, I simply recieve a canned response that this not possible. So I call into the customer service department after TWO rounds of being hung up on after over a 20 minute hold each time,I speak to Lakesha (not sure if that is spelled correctly).She was extremely rude, cutting me off as I spoke.What kind of customer service center do they run? I also called back to speak to a manager,spoke to a representative, young man wi! th the same attitude and response He would not let me finish a sentance, its like they have the same response for every customer that calls.He proceeded to tell me there was nobody else there I could speak to. Being persistant, I FINALLY got a manager, who then ACTUALLY let me ask my question and explain my reasoning as to why I was requesting my HARD earned money back. But of course the same response, they are not able to refund me. No one there could explain to my why at my local branch I was told I could "contact corporate for a reversal"(as this was the only place who had the ability)and why they were telling me this was merely IMPOSSIBLE.And then to be told to ask for Leah's manager Shane who was not even in the office.WHAT A WASTE of TIME AND HARD EARNED MONEY!!My personal opinion is that they need to screen for better help, people who sound more educated and considerate! I have never seen a company who has no reguard for a consumers financial stability as t! his!