In 2011 while working as a heavy equipment mechanic, I purchased a toolbox from a Matco Tool Distribuitor. The rollcab was valued at 13.000.00 and I had a new rollcab as partial trade. I made monthly payments until the dealer informed me the account was paid in full. MATCO TOOLS keeps sending me a bill stating I still owe 228.00 in some B.S finance charges. The tool dealer has stated he does not understand why the finance company is demanding more money on a closed account.
A year after making this purchase agreement, I became disabled per government standards. I kept making my payments on limited income until the debt was paid in full as reported by the independent tool dealer who sold me the roll-cab.
MATCO TOOLS is listed on my credit reports with a negative listing reporting my account is delinquent over 228.00 and the information indicates the credit line was 5,207.00 on 6/2011. Last year I wrote MATCO TOOLS a letter of dispute in regard to their negative credit reporting, MATCO never responded and its still on my credit report.
In my opinion, Matco Tools has violated my rights under the Fair Credit Reporting Act which is misleading to other lenders who do not accept the fact, this account was paid in good faith. My current bank has told me I need to get this account removed from my credit report where it has been unfairly reported for the past three years.
Because the tool company does their own financing, there is no protections under the Fair Debt Collection Practices Act to validate the debt and prevent false reporting which is damaging my good credit rating.
MATCO TOOLS is using unfair credit reporting to pad their pockets and refused to verify any past due amount of 228.00 after it was reported as PAID-in-FULL by their authorized tool dealer whom I made good faith payments for several years.
I purchased a tool box from this company. I was working on cars at automotive shop. When it came time to sign contract. Signed it and salesperson did not leave it. Brought contract a week later. Salesperson slip contract into my toolbox. When asked him where contract was he said it was in my toolbox. Got contract out of tool box went over contract. Found out interest rate was 21%. Talk to salesperson said I would not have even signed that contract knowing interest rate was 21%. Salesperson said I would have to contact finance department. Sales person called Finance Company with company. Talk to financing Department was told that I only had a three days buyer's remorse period told Finance department salesperson did not leave contract. Total finance department I didn't want to box hadn't even put any tools in it yet. Finance department told me if they take the toolbox that if they take tool box back. That they would have to sell it for less than what I paid for it. I told finance department I never even put tools in it yet so it was never used. I asked what they would be able to get out of it. Finance department told me that if they got $5,000 I would have to pay the difference of $5,000. Talk to attorney attorney explain to me that that was fraud
Matco Tools, Inc. Reviews
In 2011 while working as a heavy equipment mechanic, I purchased a toolbox from a Matco Tool Distribuitor. The rollcab was valued at 13.000.00 and I had a new rollcab as partial trade. I made monthly payments until the dealer informed me the account was paid in full. MATCO TOOLS keeps sending me a bill stating I still owe 228.00 in some B.S finance charges. The tool dealer has stated he does not understand why the finance company is demanding more money on a closed account.
A year after making this purchase agreement, I became disabled per government standards. I kept making my payments on limited income until the debt was paid in full as reported by the independent tool dealer who sold me the roll-cab.
MATCO TOOLS is listed on my credit reports with a negative listing reporting my account is delinquent over 228.00 and the information indicates the credit line was 5,207.00 on 6/2011. Last year I wrote MATCO TOOLS a letter of dispute in regard to their negative credit reporting, MATCO never responded and its still on my credit report.
In my opinion, Matco Tools has violated my rights under the Fair Credit Reporting Act which is misleading to other lenders who do not accept the fact, this account was paid in good faith. My current bank has told me I need to get this account removed from my credit report where it has been unfairly reported for the past three years.
Because the tool company does their own financing, there is no protections under the Fair Debt Collection Practices Act to validate the debt and prevent false reporting which is damaging my good credit rating.
MATCO TOOLS is using unfair credit reporting to pad their pockets and refused to verify any past due amount of 228.00 after it was reported as PAID-in-FULL by their authorized tool dealer whom I made good faith payments for several years.
I purchased a tool box from this company. I was working on cars at automotive shop. When it came time to sign contract. Signed it and salesperson did not leave it. Brought contract a week later. Salesperson slip contract into my toolbox. When asked him where contract was he said it was in my toolbox. Got contract out of tool box went over contract. Found out interest rate was 21%. Talk to salesperson said I would not have even signed that contract knowing interest rate was 21%. Salesperson said I would have to contact finance department. Sales person called Finance Company with company. Talk to financing Department was told that I only had a three days buyer's remorse period told Finance department salesperson did not leave contract. Total finance department I didn't want to box hadn't even put any tools in it yet. Finance department told me if they take the toolbox that if they take tool box back. That they would have to sell it for less than what I paid for it. I told finance department I never even put tools in it yet so it was never used. I asked what they would be able to get out of it. Finance department told me that if they got $5,000 I would have to pay the difference of $5,000. Talk to attorney attorney explain to me that that was fraud