I received a mail offer from HFC and a bad decision on my part, accepted a 29% apr personal loan. I initially made late payments due to finincial instability, but started to make for all the payments after the first few months.
I started to also realize that my principal was not going down. I called about a few months into this loan and each representative gave me a BS response about how late payments "extend the loan" and "cause all payments to pay only interest accrued". I thought for a second, I caught up with my payments but why is it that my principal has still not reduced. I then got that feeling in the pit of my stomach that this company was conducting what I call "unethical and unprofessional" business.
I called in to the main 800 # and asked them to send me a complete ledger which would show all my payments made. After 3-4 months of requesting for this (not an exaggeration, had to call in at least 3 times), I recieved 3-4 pages of dribble. This report looks as if it's meant to confuse you. I would attach this pathetic excuse for an account ledger if I could.
In the end, I will pay this all in full and hopefully they will not come up with another ridiculous amount or reason when I ask for this. If anyone has a similar experience, please respond.
Denny
Reseda, California
U.S.A.
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