First Financial Credit Services

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First Financial Credit Services

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ATTENTION: All Postings that advertise items for sale will be deleted from the Discussion Forum. You may post sale items for free in the Classifieds section. Sign up now.

All Messages in Thread	Author	Date
First Financial Credit Services	Jeff Newman	10-15-09
I had made a deal with First Financial Credit Services on June 30th 2009. Since that time they offered it out no payments have been made, they cant locate my 2006 Revolution LE and I have to report it stolen tomorrow. I have had to make payments, late fees and Im going to have to notify the bank of the situation and hope that I wont have criminal charges brought against me. I strongly recommend that you stay away from this company and if you have had dealings with them then I wish you the best of luck. Their add is as follows: "My name is Bill, I work for First Financial Credit Services, here’s a bit about us. We acquire coaches through contract, the same loan and lender is used but we have a contract relieving you from the obligations and liabilities of the loan. Historically we have someone in the coach within a couple weeks (although this is becoming more difficult in the last year), payments to the lender will be guaranteed through us once this happens. The party taking possession of the coach would be making payments to your financial institution till it could be refinanced or paid off – they would also be required to carry the appropriate insurance with you listed as an additional insured. We have been in business for over 18 years now and have an excellent record There is no cost to you. We do charge a fee for our services but these are collected from the party taking over the payments. We do ask that the payments are current and that you maintain insurance and payments on the coach until we can find a party to take over the payments. One year ago I would have told you we would have someone in the coach within a couple weeks but with the way the economy is it has been taking us a month, month and a half and on very rare occasions two months but the last thing we want is the coach coming back, after all, we are going to guarantee payments after we get it out, the contract between you and first Financial Credit Services relieves you from the obligations and liabilities of the loan. I would be happy to answer any questions you might have and send out sample copies of the contracts so you can have your lawyer or family look them over. Here are some of the most common Questions: THE LOAN: The loan would remain in your name and with your lender, the only thing that would change is the new party would be making your payment, usually by direct deposit unless you request otherwise. They will also be responsible to maintain insurance on the coach, 100 / 300 / 100. We keep tabs on this since we do guarantee the payments to the lender ACCIDENT THEFT: We require the person taking possession of your coach to carry insurance on it and expect it to be subscribed to on a yearly basis, not monthly or quarterly. If the vehicle is stolen or is involved in an accident it will be insured THRASHING: We deal in high end motor homes, most of out buyers are 60 plus, retired and have good backgrounds. Background checks are done on the prospective buyer and unless they meet our standards we find someone else. The contract allows you to schedule inspections on the coach any time and for any reason during the term of the contract WHY DON”T THEY FINANCE: Many of these units are upside down, that’s when more money is owed on the Motor home than what it books for. Secondly, banks usually only loan 80% of low book so the potential buyer would need to come up with that 20%, sales tax plus the difference between low book and high book. What you have been paying on the loan has been mostly interest, your loss will be their gain. If they re-financed then either you would have to take a bath on the difference of what is owed and what low blue book is or the buyer would have to pay a premium to help you get out of it. ISSUES: Please let us know if there are any issues that we should be aware of like cracked windshields, missing mattresses, dead or missing batteries, overheating / transmission issues, broken slides, ripped awnings, shoddy tires, expired tags, plate or registration issued etc etc."

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