MEPCO Insurance Premium Financing
MEPCO ripoff Insurance Premium Financing Something smells at MEPCO

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!

Company: MEPCO Insurance Premium Financing
Country: USA
State: Illinois
City: Chicago
Address: 174 N. Michigan Ave
Phone: 8003976767

  <     >