I just discovered the web site usacomplaints.com where there are over 829 consumer complaintss on Fairbanks. Here's my story to add to the list! -written after the CEO of the company sent a note to all media last month.
I live in Connecticut and last year was a casualty of a lay-off. Since I am single and the only one responsible for my mortgage-needless to say it was tough making ends meet. At that time my mortgage was held by Citibank. I refinanced last Dec. And had a mortgage with Option One. They in turn sold my mortgage 3 months later to Fairbanks. Luckily by March I secured a new job with my current employer, Convent of the Sacred Heart.
My first payment to Fairbanks was due on April 1. I wrote and mailed the check (#6484) for the amount of $2662.65 on 3/28/03. I assumed everything was OK and next month, I mailed the same amount to pay the May note. It was in early May that I received my first "delinquent" notice from them stating that I hadn't paid April and they were taking the "May" payment and applying it so I still owed an additional $2,662.65. Needless to say I was outraged. I faxed a copy of my cancelled check front and back to their "research" department. They could not confirm if they received it or not and refused to connect me to that department when I called on May 30. I did receive a written confirmation on 6/5/03 that Fairbanks was in receipt of my "correspondence" on my loan and would investigate, but it could take up to 60 days to get an answer.
In the meantime, there is a late payment on my credit report which is totally screwing me up. I have been diligent in paying all my bills on time to make up for the horrendous year that I had last year while being unemployed. I want to refinance to a different lender but the refinance deal that I had to strike last Dec. Carries a 10% 1-year prepayment penalty clause. How can I get out of this deal and get this complaint filed with the rest of the complaints out there???
Any help would be appreciated. I have all the support documents in hand if you should need them.
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