When we first received our Lowe's VISA Card from CapitalOne, we signed up for AccountSecure to cover minimum payments on the credit card of there was a job loss or other circumstance that was beyond our control. We have consistently paid that amount every month for over 3 years, along with our payments - always on time. Our credit limit steadily went up.
When the card changed from CapitalOne to GE Money Bank, the AccountSecure became Account Defender, which was supposed to be the same thing with no changes. This turned out not to be true.
My husband was laid off in November we contacted AccountDefender immediately and they sent us paperwork to complete and return. Less than one week letter, we received a letter from GE Money Bank lowering our credit by more than half! After they had run a credit report without our authorization.
We received the paperwork over six weeks later - January 23. We respond on January 27 with the required information. We heard nothing for several months and we struggled to continue making the payments. We finally called Account Defender on April 3 to check on the status of our claim. The first person, Jose, hung up on us. The next person, May, told us that our claim was suspended pending proof of loss. Proof of what loss? Proof that my husband lost his job. They wanted last two paystubs from my husband's employer that had laid him off. We had already sent them the PA Unemployment verification statement - shouldn't that be enough?
By this time we had already received our W2s, verified the information was correct and shredded the paystubs. What could we do instead? They requested a copy of our last two months' bank statements so that they could verify income levels. We can't understand why they need to verify income levels, we're simply making a claim against an insurance policy we were paying for. We refused to give them our bank statements and requested that the accept the PA Unemployment Payments as proof that my husband was unemployed. They refused to accept that.
We requested the phone number of the Legal Department, and they refused to provide it. They wouldn't even provide an address for the Legal Department.
Instead, GE Money Bank continued to call and harass us everyday to pay on the account. Why should we pay on the account when we had insurance to cover it? By this time, we're fed up and we called them again and they told us to call Account Defender. We did, spoke to Jenny and was transferred to her supervisor, Maria (who was very reluctant to give us her name). Once again, we were faced with the paystub situation and an absolute refusal to accept anything less.
I then told them that I suspect they are delaying this entire process (it's been five months now) and they had no intention of ever paying the claim, and we requested a total refund of our insurance premiums. At this point, Maria said she would turn this over to a Benefit Analyst. She couldn't tell me when the call would be returned. I had finally had enough of the complete run-around and lack of answers. I politely told Maria to please note in the file that I will be contact GE Money Bank's legal department (777 Ridge Road, Stamford, CT 06927) and the Attorney General of Pennsylvania to get this straightened out. I also made sure to point out that all of my husband's other credit cards' insurance carrier (AccountSecure) has been making payments and protecting our credit since December without any problems.
I know that we are not along in this RIPOFF. We suggest that everyone who is having this problem inundate the Legal Department of GE Money Bank and the Attorney General of your state with calls and/or letters requesting that something be done about this. If enough of us do that, something is bound to happen.
CJ & BJ
Quakertown, Pennsylvania
U.S.A.
0 comments