I got a letter in the mail in 2005 from a company called Nationwide Biweekly. It said I could save thousands of dollars over the life of my loan by making payments every two weeks rather than once monthly.
I was mislead at first into believing that my mortgage company, Aegis, was the one who sent this out. Aegis mortgage was printed on the top of the letter I got in the mail.
When I signed up I gave my credit card number. They said there would be a one time fee. I recall it being over $200. They said my paperwork would arrive in the mail shortly, and that I would have to sign and return it.
I received my paperwork maybe a week later, and I did not sign it or return it. Nationwide Biweekly told me they could not start the program until January of and also told me I would have to make a double payment in January. This was not something I could afford, so this is part of the reason why I nevers signed up.
Another thing they do not tell you, is that all they really do is send out 13 full payments a year, rather than 12. Since there are 52 weeks in a year that equals 26 payments for me, and the extra money would simply be from making more payments.
I tried to contact customer service in January, and they stated they had no record of me ever signing up. Yet my credit card was charged immediately.
I called on 4-15-06, and I managed to get my enrollment ID number. The customer service person I spoke with said there was no way to get a refund. She said giving a credit card number meant that I already signed up, even though my signature did not appear on any paperwork, since I never signed anything.
I truly think this is a deceptive business practice. I should be able to read the fine details before I pay for something. I think that any honest or respectable company would not have refused to refund money for a service never received.
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