Platinum Motors

I bought a 2006 Mercedes and after having it, I checked with the Mercedes dealership to find that it needed $5K-$10K worth of work. I returned it to the owner and purchased a BMW instead. The loan on the Mercedes was financed through Chase Bank and has not been paid off by Platinum Motors. That's fraud! The owner says that they don't have the money to pay off the loan and is making payments in my name.

As a direct result, they have me financed through some off brand finance company at 20% interest because the outstanding loan with Chase has my credit over-extended.

I traded my Mercedes Benz for an Escallade. The dealer was supposed to pay off $51000 by January 2010. It is now March 2010. The dealer has sold the Mercedes and has not paid off the account. Someone is driving it with my name on the registration. The finance company is asking me to make payments on a car that was sold. The dealer says he does not have the money to pay it off.