Matco Tools, Inc. Review

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.


  • Name: Matco Tools, Inc.
  • Country: United States
  • State: Alaska
  • City:
  • Address:
  • Phone: 866-289-8665
  • Website:
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