Lenders and cards to AVOID... need input

[Anonymous]

Don't always consider yourself "over a barrel" even in the worst situations. Before you do business with some lenders or credit cards, be clear of the downsides, too. There are plenty of good companies out there who will deal fairly and honestly with you, even with damaged credit. But unfortunately, there are other lenders and card companies that are considered "predatory" in nature, meaning they will rake you over the coals, charge you outrageous fees, and in short, rip you off when you can least afford it.

My picks for lenders and cards to avoid:

Mortage loans: FULL SPECTRUM LENDING (a division of Countrywide Home Loans). Bait and switch artists, hidden penalties, broken promises. Their reputation is poor all over the internet.

Credit cards: CONTINENTAL FINANCE. Incredibly high fees, many recurring fees associated with unsolicited credit line increases, etc. Very difficult to identify corporate leaders and virtually impossible to reach their main offices.

Another credit card: ANY card from CompuCredit. Just about the most ridiculous phone system I've EVER tried to negotiate.

Let's have some more opinions, please.

[Anonymous]

Here's another that I've read absolute HORROR stories about:

DRIVE-TIME auto sales/auto loans: incredibly over-priced used vehicles with questionable pasts, financed to just about anyone who is desperate... at state-ceiling interest rates with payments due TWICE a month.

I've also been reading horror stories about some of their customers who suffered a minor setback and needed to make payment arrangements after being a couple of days late, only to wake up and find their cars repo'd during the middle of the night. And when those customers then tried to get their cars back, they were met with gestapo-type employees who didn't want to hear any "sob stories"...

Avoid these people like the plague. Find another lender. Do what it takes to get reliable transportation, but stay the heck away from DRIVE-TIME.

[Neblett]

DRIVE TIME also routinely falsifies information on their credit applications to their lenders, so that you can "look as good as possible" to them. I went to DRIVE TIME about a year ago, and they gave me MAJOR heebie-jeebies, and when I objected to them tacking an extra $10,000 onto my income, they said it was standard practice. Yeah, they're not the ones who could get sued, if my signature is on the form.

[Anonymous]

AVOID CAPITAL ONE LIKE THE PLAGUE!!!

[Anonymous]

It sure seems like it's a consensus... a stay the heck away from DRIVE TIME auto loans. They just seem like sleezy bottom feeders. I'm sure they'll get their share of desperate buyers (especially buyers who don't research Drive Time's reputation on the net) but I hope everyone else will look at ALL other options.

Heck, even buying from a local "tote-the-note" lot would be better in my opinion. I resolve to NEVER be in a situation where I have to stoop to buying anything... even a bicycle... from Drive Time!