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Hello all,
I wanted to post a question on this forum as you all have great knowledge about credits and loans. Hopefully, you can lead me in the right direction. We have a loan with San Diego County Credit Union. In the end of 2019 and beginning of 2020, for some reason, the insurance company didn't update the bank that we had a valid policy. As a result, the bank placed an insurance and increased the payments by $150. While I understand it is their right because it's stated on the loan, they do not want to give me a detailed statement of what has been paid. I have since shown them proof that the car was insured during that time period, but they are still charging me for the insurance because they claim that they have not received proof. We have asked several times to give us a breakdown of where each payment is going and they do not want to do that. This is frustrating as they always say they can't and that I need to send proof to their insurance office via fax. Does anyone have an idea of where I can direct my inquiries? The people at the bank are of no help. I appreciate your input.
Thank you
Did you change insurance carriers? I would be more concerned about having the insurance company verify no lapse in coverage and have any surcharges rebated back. At this point I would not care how the finance company accounted for the insurance only that they remove all fees related to this incorrect assesment.