Complaint / Review
America's Servicing Company
ASC Wells Fargo Bank Charging over 200% interest per annum After paying $ 50,000 on a balance of $ 49,763 still charging me $ 300, a month Ripoff Minneapolis

Received statement with a remaining balance of $ 49,763 in my PO Box. Made payment of $ 50,000.

After 2 weeks someone at my workplace gave me a UPS/DHL envelope with a letter signed by Chris Wiggins, Payoff Resolutions.

The letter was addressed to the property address, a vacant house. We never received any correspondance at this address, ASC has the correct address on file.

Wigging wrote: "I do need to inform you that this payoff ($ 50,000, -) is short $ 1,798.71 due to additional interest and fees that are owed.interest in the amount of $ 10.07 per day will continue to accrue until the funds needed to pay the loan in full are received."

No explanation where these $ 1,798.71 are coming from. No explanation either how ASC calculates the $ 10.07 per day. (Even if there was an explanation for the $ 1,798.71 this would correspond to an interest rate of over 200% per annum!!!)