We have had a home loan with Conseco since Aug of 1997. Our experiance has been absolutly unreal. They have pulled all the same tactics that I have read about here and then some. They called repeatedly both at my home and my work. They used the same scare tactics and rude comments. They even told my 9 year old son that if I didnt return their phone calls that he would be living in the street. I have been trying to get away from them for the last 4 years. They refused to give a pay-off amount so we could get a different loan. I reported them to the Better Busines, Consumer Complaints, and the SD States Attorny. I was told that there was nothing that could be done from their point and that I needed to seek leagal advise.
After a year of working with an attorny we finally got a pay-off quoted to us. Our original loan was for 72,000.00 and we were given a pay-off amount of 71,950.00. This is what they say we owe after paying them over 40,000.00 for the last 5 years. I know that the first payments always go toward interest on a loan but I assumed that something had to go to the principle! I cant believe that only 50.00 was put toward my principle on this loan in 5 years!!
Can anyone tell me if this is legal??? Has anyone ever taken them to court?? My attorny refuses to sue them as he doesnt see that there would be enough profit in it for his firm. Just what is John Doe suppose to do to fight back???
The stoies that I read all seem to say the same thing. This company lies and cheats its way thru every time. What one person says isnt held up by the next person you talk to. I was even told by one of their reps that they are instructed to tell people "Do whatever it takes to get them to take a loan with you. The important thing is to get the sale."
How can this company keep getting away with this?? I kept being told by them that they "could do and say whatever they want to." I guess that must be true because I have never seen where Conseco has ever had to pay back a customer that they wronged or that they have ever been suied for poor businees policies or any of the hundreds of other things that they pull. How do they manage to keep this up and never have anything done???
Spearfish, South Dakota