I started a contract with HC Processing in 2008. Unfortunately I didn't realize that my payment was not due on a certain date, (i.e. the 11th of each month) but it was in fact something like the second Wednesday. Consequently I was late on a payment and, like you, my interest rate went through the roof. After calling to talk to them they told me essentially tough and my payment went up substantially. I have continued to pay them each month even though my husband being out of work. There were a few late payments due to our financial hardship but they were unwilling to wave the fees.
So, after 4 years of paying them I owe them more today than I did when I bought the darn treadmill! They are quick about reporting to the credit bureaus and my credit has taken a real hit. My place of employment recently had a plant wide shut down and I was out of work for 6 weeks. I called and told them I could not make the payment and I was sent straight to collections.
The woman who had my account was rude, combative, and threatening. I asked her not to call me again and then asked to be transferred to her supervisor. I asked him to have my account transferred to another employee. He and I made an arrangement that he could lower my interest rate and take care of the past due amount. Within a few days the same woman called me again. Again she was rude and hostile and again I asked her to transfer me to her supervisor. He told me I now owed right around $150 in fees....fees he said before they would waive. I told him I could not pay them right away and I would make the monthly payment he and I had discussed and pay extra if at all possible...and to PLEASE not have that woman call me again. He told me she had my account and I asked him, again, to transfer it because I could not work with her.
She still calls me, 1-2 times a week even after having made the arrangements with the supervisor. I
refuse to answer the phone anymore. I have called the supervisor several times and only managed to talk to him once. Each time I ask him to have her stop calling me, that I am willing to work with him but not his hostile employee. This week I received a bill for almost $300, late fees on the late fees he was supposed to have waived. My credit is crap compared to what it was when I started with them, I owe more today than when I started, they refuse to have a hostile employee stop harassing me, and they don't honor their agreements. I will not give this company any more of my money directly. They will have to turn me over to a collection company. They can't hurt my credit anymore than they already have and I know I will be able to negotiate with a collection agency. If you are thinking about getting a loan through these people DON'T! Even my ex-husband hasn't haunted me this much!!