I recently purchased an extended warranty for my work truck through my local dealership. They financed the transaction through MEPCO. I put down $186, and made several monthly payments of $140.
One month I sent a payment to a similar sounding company who I also have insurance financed with. It took that company 3 weeks to void my check and notify me I had sent them an unsolicited check.By this time I was coming up on being two months behind with MEPCO. They promptly sent me a notice that they were cancelling my policy for non-payment of premiums.
I called MEPCO's "customer service" department and spoke with a woman who said that the policy had been cancelled but if I would send them a check for $433 (the two months I was behind and the upcoming month's premium), and it arrived no later than 4/21, they would reinstate my policy (she also offered to DRAFT my checking account for the $433!!)
Today I received a letter in the mail that they appreciated my sending them a check for $433, but my account remains in a cancelled state. HOWEVER, if I send them ANOTHER $433 then they will "request" that my policy be reinstated, if my account is eligible!
I may be wrong, but this certainly sounds like they want to get about $900 from me and then determine that my account is "not eligible for reinstatement."
Buyer's BEWARE of MEPCO... There seems to be something smelly about the way they do business!
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