Financed furniture over three years with no interest payments. If I am late one time, or miss a payment, then the 21% ripoff, usury, exorbitant interest rate kicks in. I have not been late, nor have I missed a payment. This is what has happened.
This outfit does not take online payments. I am sure this is deliberate since those payments are electronically posted and they can not claim they are late. I made an online payment through my bank and they claimed they never received it.
If I mail the payment, I have no control over when they will post it so I have taken to calling them on the telephone, at least 10 days in advance to make the payment through their telephone payment service. Then they deduct the payment from my bank within 48 hours.
I have been doing this successfully for more than a year and a half now but this time instead of deducting the $200 payment which I authorized, they deducted a $2000.00 payment!!! Luckily, I did not have the funds (LOL) so the check bounced. I called in to make another correct payment for $200.00 and now I will see if they consider me in default of the account even though it was their mistake. I believe this little "error" was deliberate. They are just itching to charge that interest (unconscionable exorbitant rate of interest). I have faxed a letter to the "supervisor" but I have had no response. I will keep you posted. As soon as I can, I plan to switch this balance to another card with 0% interest for transfers and get away from this very unethical company.
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