My wife signed with Delray CC after being told our payment would be $1250 a month (roughly what we were paying at the time). After our initial deposit the rate went up to $1335. We balked but accepted. A month later it went up to $1511. Again we were a bit shocked, but saw the payments being made to our creditors and looked at it as a faster resolution to our debt.
While paying more than most mortgage's each month to Delray we managed to pay off 3 of our cards on our own and Delray routed the remainder of the $1511 to the LOWEST INTEREST ACCOUNT. Upset but excited at the rate we were moving we again accepted.
This morning my wife called all of our creditors, negotiated our own interest rates (lower than what Delray negotiated) and found out from Capital One that Delray sent in a negotiated rate request of 14% on my wife's card. The rate was at 10% when they sent the request! They actually caused an INCREASE in our rate over the last two years.
On calling Delray to cancel the DMP after making her own considerable arrangements, she was told that we would not receive our deposit back and it is forfeit.
No Delray! You do not call it a deposit, tell us that we can choose to get it back or apply it to our last payment, raise our monthly rates, raise our interest rates, and then keep our money "deposit'.
This post is step one.
Step two is an honest attempt to get Delray to see the error of this practice on Monday when they open.
Step three is a BBB call on deceptive and misleading business practices.
Step four is a call to the Florida and Washington state AG's office to have your contracts and policies reviewed.
Step five is using all of my resources to distribute knowledge to the people and limit your pool of fish.
I hope everyone who reads this can see the legitimacy of my statements and can walk away knowing that Delray is not a company that you want to do business with.
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