I purchased a car and financed through HMFC. I had auto payments setup and never was late in the 5 year contract. When I had deferred payments was never told that they would be treated as a balloon payment at the end of the contract. I was never told to try and pay extra or anything. I assumed that the auto payments would continue until it was paid. I also was not informed until 2/27, I was charged. 54 per day interest on the deferred payments. I noticed that January's payment did not come out of the account, so I called. I was informed of all this at that time. I was also told if I continued to make the normal monthly payment all would be fine. Today I received a letter that continued non payment could result in the repossession of my car. The letter said call to discuss payment arrangements. I was informed that if I did not pay in full within 13 days, that my account would be sent to a collection agency. After 5 years of on time payments, I'm going to be sent to a collection agency and my credit ruined, because no one thought to tell me how this works. Not one person I spoke with gave me any options of payments nothing. I was told to borrow from family or things would proceed. I asked for names or department phone numbers that may be able to help me and was told they knew of no phone numbers or department to speak with. If this goes to a collection agency, not only will what credit I have be ruined but I will be charged by the collection agency their fees. I will also have to endure the harrassing phone calls and threats. I'm disabled live on a very tight budget. Because they refuse to work with a faithful on time paying customer My life will so become hell. I will worry everday about them showing trying to take my car even as I continue to make payments. How can this be right. I really hope you can help with some answers.
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