We refinanced with Household Finance (aka HFC) in January. We were told that after three years our interest rate would drop a half a point, then a half a point for two years after that. Our rate never dropped. We are so far in debt with Household that we'll never be able to refinace or move if we wanted to! We'll probably have to foreclose before we can get out of under them, but then they would win, right!? Our credit has gone from Fair to Poor because of HFC's payment policy. Did you know that HFC reports you as 30-days late on your credit report when one month you make a payment on the first of the month, then the next month you make it on the 10th of the month, so it's been more than thirty days between payments, they report this to the credit bureau, even though you still made your payment on time! How are we ever supposed to fix our credit with such a high payment that we have to make to HFC in addition to the way they report to the credit bureaus! We're in a no-win situation with them and I wish we could go back 4 years and tell them "Hell NO!!!"
0 comments