GM Financial would have caught this right?

wforrest08 · December 12, 2018

1 hour ago, ftwhite said:

I started getting someones paycheck in my checking account once. I didn't notice it, but the bank did; and adjusted my balance without a warning or call of explanation. Legally, they can fix these issue without your permission or knowledge.

My employer does this sh!t with our pay. We get guarantees, penalty pay, claims, bonus days, ect. Sometimes some dill weed in payroll will pay something wrong then weeks or months later some bean counter triple checking their work will catch the error and take it back out of our bank accounts as part of one of our past contacts we agreed to direct pay and no more checks. When we did get checks they would just take it out of the next paycheck. Oddly enough if the error is in their favor it about takes a act of congress to get them to put it in our accounts...

To the OP I applaud your decision to correct their error ASAP and saving the other guy the headaches they were about to cause him. Good chance it was paid off as it was traded in or sold to somebody else. As stated above if I was in your shoes I would want them to show me that nothing changed with my account ie. shows a refinance, missed payment, due date changed, extra security interest on title, ect. And yes at some point somebodies bean counters would have caught it and it would have been a headache and a half for you...

qwank · December 12, 2018

You did the right thing.

Some guy on the Facebook page was saying he got Ford to buy back his old truck. Sent him the 79K check and never asked for his truck back. He kept the money and traded the Ford in for a GMC. He said his lawyer said it was legal, I told him Ford is going to eventually come looking for his truck and he's going to be screwed.

j-ten-ner · December 12, 2018

It doesn't matter whether the bank would have caught this or not.
It's about honesty and manhood.
You did the right thing and karma will catch up with you!

so long

j-ten-ner

Jimmyc! · December 12, 2018

For just that split second we all would have thought. "Man this would be so sweet just to have her paid off". Then reality sets in and we know we must do the right thing. But for that smallest of moments that feeling of freedom. Amiright?

Mileguru · December 12, 2018

You absolutely did the right thing on so many levels. You saved yourself TONS of hassle in the future (although you're still not out of the woods on that front because who knows how the "straightening out" of this reversal is going to go), you saved some other guy a huge hassle (think of the misery of identity theft...that's almost what he would have gone through), AND you were an honest MAN. It's nice to have free money, but if you know it's not really something you earned, is it worth your integrity and conscience? Some might say yes, and to that I say they are either low-lifes, highly unintelligent and not a valuable member of the human race, or just all talk since they aren't the one in this situation.

I say congratulations for doing what you did. I mean nothing to you, you don't know who I am, you don't care a thing about me, but I'd still like to say that I'm proud of you.

Paintor · December 12, 2018

If they try to make your auto loan an unsecured loan and run your interest rate up to 30%. Remind them the State still has them listed on title as lien.

Even if, they mailed you a title stamped with a lien release. Don’t let them make your auto loan an unsecured loan due to their fault.

Edited December 12, 2018 by Paintor

tstodda · December 12, 2018

12 hours ago, Mileguru said:

You absolutely did the right thing on so many levels. You saved yourself TONS of hassle in the future (although you're still not out of the woods on that front because who knows how the "straightening out" of this reversal is going to go), you saved some other guy a huge hassle (think of the misery of identity theft...that's almost what he would have gone through), AND you were an honest MAN. It's nice to have free money, but if you know it's not really something you earned, is it worth your integrity and conscience? Some might say yes, and to that I say they are either low-lifes, highly unintelligent and not a valuable member of the human race, or just all talk since they aren't the one in this situation.

I say congratulations for doing what you did. I mean nothing to you, you don't know who I am, you don't care a thing about me, but I'd still like to say that I'm proud of you.

Thank you- I appreciate the response. I don't know if I could handle this situation any other way, be it 5 dollars or thousands.

tstodda · December 12, 2018

14 hours ago, qwank said:

You did the right thing.

Some guy on the Facebook page was saying he got Ford to buy back his old truck. Sent him the 79K check and never asked for his truck back. He kept the money and traded the Ford in for a GMC. He said his lawyer said it was legal, I told him Ford is going to eventually come looking for his truck and he's going to be screwed.

Thank you

As for the Facebook guy...Step 1: Stick it to the man, Step 2: Brag about it on Facebook. Yikes.

Ltz73 · December 12, 2018

I commend you on doing the right thing. ?? Good honest people seem to be a dying breed these days and it’s refreshing to know there are still some good hearted decent people left.

Coby7 · December 12, 2018

You would think they would have taken care of at least next months payment as a goodwill gesture for you being honest.

duquephart · December 12, 2018

51 minutes ago, Ltz73 said:

I commend you on doing the right thing. ?? Good honest people seem to be a dying breed these days and it’s refreshing to know there are still some good hearted decent people left.

Just me and you. And I'm not so sure about you.

Brummie99 · December 12, 2018

My colleague was telling me how, years ago, he bought a brand new truck. 6 months later, it was re-possessed. He hadn't missed a single payment and the loan was in good standing. A mistake by the loan company.

His wife was a paralegal and consulted her boss. He told them to do nothing but keep making the payments. They had another vehicle so wasn't a major problem. Three months later, the lawyer contacted the loan company. The result was, the truck was returned, paid in full PLUS $10,000 compensation.

In your case, I would have kept making payments (or put the payments in a savings account), keep (don't cash) any refund check, until they fixed it. I'm sure your honesty didn't save the other guy one moment of anguish. The bank would still have run him ragged getting it sorted on his end.

Edited December 12, 2018 by Brummie99
clarity

tstodda · December 13, 2018

4 hours ago, Brummie99 said:

My colleague was telling me how, years ago, he bought a brand new truck. 6 months later, it was re-possessed. He hadn't missed a single payment and the loan was in good standing. A mistake by the loan company.

His wife was a paralegal and consulted her boss. He told them to do nothing but keep making the payments. They had another vehicle so wasn't a major problem. Three months later, the lawyer contacted the loan company. The result was, the truck was returned, paid in full PLUS $10,000 compensation.

In your case, I would have kept making payments (or put the payments in a savings account), keep (don't cash) any refund check, until they fixed it. I'm sure your honesty didn't save the other guy one moment of anguish. The bank would still have run him ragged getting it sorted on his end.

Any correspondence I am keeping. What is interesting is they are hoping to have this addressed in the next 7-10 business days but in the meantime I cannot view my balance, history or even make a payment- its all 'closed'

This 7-10 business days to correct overlaps with my next payment due date, this is actually starting to stress me out. The thought of missing a payment due date, just the thought, keeps me up at night.

tstodda · December 13, 2018

4 hours ago, Coby7 said:

You would think they would have taken care of at least next months payment as a goodwill gesture for you being honest.

So far just an apology for the inconvenience and re-assurance that they are working on this. The rep. I talked to seemed stumped though.

I have to imagine this has happened before. GM Financial is a revolving door of people paying off and re-financing to a better rate so it's a matter of time before two similar VIN's get mashed together, I hate to make an excuse for them. What is inexcusable is how does an over payment of ~30K not trigger an actual human being to confirm the transaction?

Brummie99 · December 13, 2018

9 hours ago, tstodda said:

Any correspondence I am keeping. What is interesting is they are hoping to have this addressed in the next 7-10 business days but in the meantime I cannot view my balance, history or even make a payment- its all 'closed'

This 7-10 business days to correct overlaps with my next payment due date, this is actually starting to stress me out. The thought of missing a payment due date, just the thought, keeps me up at night.

A 'late' payment will not register as late on your credit report until it's at least 30 days late. Don't sweat it. If something does go awry, consult an attorney. You may come out of it ahead like my colleague.