Sleepy's FINANCING PROGRAMS ARE PREDATORY new york New York

Beware of the unethical sales folks at Sleepy's when they try to convince you to finance a purchase.  I bought a Temperpedic mattress two years ago - fully prepared to just pay for it.  The sales rep spent 15+ minutes trying to talk me into a 0 percent financnig package on the mattress.  I caved as he promised 0 percent financing on the purchase.  He mentioned that if I paid $129 a month, they just pull the money from my account each month and when the mattress is paid off, we're done.  No interest.  Why would I not do it...he was pushing quite hard.  Free money!

Two years went by and the money was pulled from my acct each month.  I just checked the decresing balance but didn't pay much attention to it.  Recently, I noticed that my balance ballooned up to the full retail price at purchase.  I called Sleepy's and they told me that the 0 percent interest was a two year program and once the two years were up, the interest rate balooned to 29% retroactively to the day of purchase.  I now was going to have to pay double for a mattress that I was just going to buy straight up because the unethical saleman sold me one something that wasn't true, and clearly set up my payment schedule so the balloon interest rate would hit me after two years.  Pretty slimey.

Couple issues here:

1. The Sales rep completely misrepresented the financing.  He never told me that this was a two year limited deal with a baloon on the balance if not paid off in two years.  He lied to me about the terms to get me to sign up.

2. He clearly set my payments up so I was going to get nailed by the balloon - and all the while, he told me that I'd pay that amount 'til the mattress was paid off and why wouldn't I do this.  Pushing me very hard.

3. He was clearly compensated by GE Capital for getting me into this deal, so Sleepy's and GE are both complicit in this fraud and both should be called to the table for it.

I have talked to both Sleepy's and GE customer service and both are very well versed in dealing with deals like this.  They must talk to people like me every day, so I'm not hopeful of any sort of resolution without massive pressure.  They seem to have little interest in rectifying the situation.

All I'm asking for is to just be allowed to pay for the mattress as I planned when I walked into the Sleepy's two years ago and not have to pay $7k for a $3k mattress, due to a fraudulent and predatorial sales tactic.

If I get no resolution by the end of this week, I will pay off the acct to save my credit, but I be reporting them to the State's Attorney General for predatorial lending and fraud.  I'll also send my story to every news outlet in NY - copying the CEO and head of Marketing at Sleepy's.  They spend millions to convince people to buy from them...all it takes is a few bad articles to ruin millions of dollars of markeing spending. 

If I'm going to pay $7k for a mattress, I'm going to do everything I can to make sure I get my money's worth for it.  I will make it my mission to call in every favor from my friends in the media, politics (majoral candidates love press conferences about predatorial lending), and the AG's office.

What Sleepy's is doing is not legal, and I'm going to do everything I can to make sure people think twice about buying from them.  GE is standing behind them as well, and I suspect there is a paper trail of how to sell this financing to customers so GE can make the most money.  I hope it doesn't get that far, but if one of my friends at the AG's office decides to do a little digging, I suspect they will find a fascinating ecosystem of how to prey on the public.