I just discovered the web site usacomplaints.com, where there are over 829 consumer complaints on Fairbanks. Here's my story to add to the list! It was written after the CEO of the company sent a note to all media last month.
I live in Connecticut and last year was a casualty of a layoff. Since I am single and the only one responsible for my mortgage, needless to say it was tough making ends meet. At that time my mortgage was held by Citibank. I refinanced last December and had a mortgage with Option One. They in turn sold my mortgage three months later to Fairbanks. Luckily by March I secured a new job with my current employer, Convent of the Sacred Heart.
My first payment to Fairbanks was due on April 1. I wrote and mailed the check (#6484) for the amount of $2,662.65 on 3/28/03. I assumed everything was OK and the next month I mailed the same amount to pay the May note. It was in early May that I received my first "delinquent" notice from them, stating that I hadn't paid April and that they were taking the May payment and applying it, so I still owed an additional $2,662.65. Needless to say, I was outraged. I faxed a copy of my cancelled check, front and back, to their "research" department. They could not confirm whether they received it or not and refused to connect me to that department when I called on May 30. I did receive a written confirmation on 6/5/03 that Fairbanks was in receipt of my "correspondence" on my loan and would investigate, but it could take up to 60 days to get an answer.
In the meantime, there is a late payment on my credit report, which is totally screwing me up. I have been diligent in paying all my bills on time to make up for the horrendous year I had last year while unemployed. I want to refinance to a different lender, but the refinance deal that I had to strike last December carries a 10% 1-year prepayment penalty clause. How can I get out of this deal and get this complaint filed with the rest of the complaints out there?
Any help would be appreciated. I have all the supporting documents in hand if you should need them.
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