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Donald
Sounds like your finance company is a bunch of crooks..
That is not a surprise..
Is it even worth talking to a lawyer ?
Paul
Your insurance agent/company should be able to backdate this change to the date you obtained the loan with this lienholder. They should not have an issue on this since this change does not involving adding coverage but listing a lienholder that is already on your title. If your agent is having trouble getting this, ask him/her to speak with their Underwriter or a Supervisor. The change might take one to two weeks because it will probably have to be done manually since the effective date is more than 30 days old.
Hopefully once you get this information, i.e. the declaration page showing the change, your lienholder should be satisfied and that should be the end of the story. That said it looks like you have gotten a bad lienholder that is only out for money. The lienholder would in fact have been protected in case of any claim because in the event of a claim the vast majority of insurance company adjusters double check whether there is a lien before they issue a check for payment on a claim! If this lienholder still continues to give you trouble, I would contact the insurance commissioner in your state, the licensing authority that handles this lienholder’s license, the Better Business Bureau and even your local television investigative reporter! Sometimes a little bad publicity makes companies back off of this type of onerous anti-consumer behavior.
I hope this helps. Good Luck!
Micheal
There are only two words for this situation. Insurance Commissioner, Insurance Commissioner, Insurance Commissioner.
You need to call the Insurance Commissioner or Department of Insurance in your state and file a complaint against your leinholder. You might call them up first and threaten them with calling the Department of Insurance and that you will file a complaint if they do not take off the charge and refund your money ASAP. Tlhey get in trouble with the state when you file a complaint so a threatening phone call to the leinholder may do the trick. If not, call your Dept. Insurance and file a complaint against them. Since you had insurance they should not have charged you one dime for insurance whether or not they were listed as leinholder makes no difference.
Ricardo
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Lucy
You probably need to write all that out, and complain in writing to your state banking commissioner, who would be the regulating authority for the lender.