8/27/2023 0 Comments Mid atlantic finance paymentAnd after the transaction was processed by the Texas Department of Motor Vehicles ( DMV ), MSMTBR was obligated to deliver the original title to MidAtlantic to hold the title. Once Mid-Atlantic purchased an installment sales contract, all rights under the Contract immediately transferred to Mid-Atlantic, and it became the lawful owner thereof, free and clear of all claims, liens or encumbrances whatsoever. If the consumer defaulted on the contract after the sixth month, the Agreement provided for a Bonus Pool to be used to satisfy expenses and deficiency balances at Mid-Atlantic s discretion. If the consumer defaulted on the contract within six months, MidAtlantic could recover its losses by repossessing and selling the automobiles or demanding that MSMTBR repurchase the installment sales contract. 2 additional payments to MSMTBR as the consumer performed on the installment sales contract. MidAtlantic would make an initial cash advance to MSMTBR and then make 1 See TEX. If Mid-Atlantic approved the contract, MSMTBR and Mid-Atlantic would then agree to a purchase price, through a Decision Callback, and Mid-Atlantic would buy the contract. Pursuant to the Agreement, MSMTBR, after executing an automobile installment sales contract with a customer, would present the contract to Mid-Atlantic for consideration. Background On October 30, 2009, Mid-Atlantic, a finance company in the business of purchasing installment sales contracts from automobile dealers, entered into a Flex Line Program Agreement (the Agreement ) with MSMTBR to purchase certain automobile installment sales contracts. and Russell David Balusek (collectively, MSMTBR ), challenge the trial court s rendition of summary judgment in favor of Mid-Atlantic in its suit against MSMTBR for conversion and recovery under the Texas Theft Liability Act ( TLA ).1 In three issues, MSMTBR contends that the trial court erred in granting Mid-Atlantic summary judgment on its conversion and TLA claims. We deny the motion for rehearing, but withdraw our opinion and judgment of Maand issue the following opinion and a new judgment in their stead. ( Mid-Atlantic ), has filed a motion for rehearing of our Maopinion and judgment. 2011-30123 MEMORANDUM OPINION ON REHEARING Appellee, Mid-Atlantic Finance Co., Inc. MID-ATLANTIC FINANCE CO., INC., Appellee On Appeal from the 190th District Court Harris County, Texas Trial Court Case No. I don't appreciate having to be on hold for 30 to 45minutes and a representive name Aundrea decided to answer.Opinion issued JIn The Court of Appeals For The First District of Texas NO. I guarantee that your customer service will go far. The message being that if you find yourself in particular trying times, please treat your finance rep in the same manner that you expect from them. I am sorry that I could not have stayed with Mid-Atlantic. I had to visit a dealership and purchase a new car, but the bank that provided my new car loan will pay my old loan off. WOW.REALLY? Sadly, my car is in desperate need of repair and I too owe approximately $800.00. He also gleefully declared that he enjoyed cussing them out daily. How is this the fault of the finance company. I read a complaint that the customer still owed $800.00, but that he was not going to pay it, because the car was not running. They were never threatening, but helpful and compassionate. Firstly, MAF reports to the credit agencies, secondly, I found myself in difficult situations from time to time and the representatives ALWAYS went above and beyond to help see me through. I bought my car in 2012 for a buy here pay here lot and they sold my loan to Mid-Atlantic and was I relieved. I have read reviews and complaints regarding this company and quite frankly, I am mystified.
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