My story about Gibson Trust is all too familiar after reading about all the lying and deception others have also been through.
My beginning with them was 12/01/00 and a rocky start it was. I was told my debt would be paid off in 36 months at a rate of $628 a month which I thought was very strange since they hadn't even negotiated with my creditors yet. I was told they dealt with these same people all the time and knew what their rates would be ahead of time. It took forever to get them to contact and negotiate with my credit card companies and by then payments were 3 or 4 months behind. They informed me that this was normal and wouldn't hurt my credit in any way. My payments went in as scheduled.
Things then went better for quite some time with a few late payments here and there costing me late fees and phone calls from credit card companies until about April. Then the payments stopped. Once again I recieved phone calls insisting on "phone checks" paid directly to them. My money was already sent. They always had my money one week to 10 days ahead of the due date. I tried the impossible again by contacting Gibson. Two months later I get a phone call at work asking me what the problem was and insisted it was just a recording timing error and strictly warned not to pay them directly because it voided the contract.
They are very faithful in sending me e-statements indicating the payments had been made always the day before the due date (they sent those worthless statements every month like clockwork whether payments were made or not) And I continue to recieve statements from credit card companies showing no payment made. I even sent their payment in certified mail for several months to make sure they recieved it. That just seemed to make them mad and I got even worse response since.
Currently they are holding my escrow fund of $628 plus a payment of $335 that they haven't paid since about July to one company. After calculating how this thing is to be paid off makes no sense at all, it will be much longer than 36 mos. Especially since one of the cards was so well negociated at 11% interest. I have filed a complaint with the BBB and like all of you have heard nothing.
I have not decided what else to do or needs to be done but it helps to know I am not the only one being ripped off... Nothing like being taken advantage of at a time when you can least afford it.
Art
Millersburg, Ohio
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