Hfc
Not lowering payments as advertised and not correctly applying principal payments

I signed up for the bi-weekly payment option thinking it would really help lower my principal quickly because one payment per year would be going straight to principal.instead, this company simply "pays your account ahead" so that you don't have a payment due as quickly.in the long run you would pay your loan off sooner but not nearly as soon as if they applied the payment to principal, which is what they led me to believe was happening.

In addition, their Pay Right Rewards program was advertised to me as "After 12 on-time payments, we will lower your interest rate by. 25% and accordingly lower your payment." I made my 12 on-time payments early (see bi-weekly payments above) and was told that they couldn't lower my payments because 12 months hadn't elapsed. I quit the bi-weekly payments and resumed my monthly payment schedule. Somehow, my Pay Right rewards have now been deferred an extra month because I made a change to my account.

Somebody get me a lawyer. I can't be the only one that this is happening to.

Jennifer
Tieton, Washington
U.S.A.

Company: Hfc
Country: USA
State: Illinois
City: Carol Stream
Address: PO Box 5233
Phone: 8003407866

  <     >