On February 22, 2008 I closed on a home equity loan from my bank of which I consolidated some bills. As soon as I received the checks I immediately went straight to HFC and gave them a check for $4,877.30 and requested my account be closed. This was the balance due on the last statement that I had received from them in January. When I handed the receptionist the check I told her that I was paying this account in full and to close the account.
I was then informed that I owed an additional $125.46 (an additional finance charge I was told). I told her that was all the money that they were getting from me and walked out. I paid HFC the balance that was indicated on my last statement that I had received, although the payment was late because I was waiting to close on my home equity loan. This was the second $5,000 loan I had paid off with them and early and I always made my payments on time. My other creditors that I paid off was more than happy to waive any late fee or finance charge because of the wait on the home equity loan.
I received another statement, this time another finance charge plus a late fee had been added, bringing the balance to $160.69. I called the branch where I got the loan to try and talk to someone about this. I couldn't get past the receptionist. I explained to her what had happened and she told me to call customer service. She was very hateful and rude and nasty to me. But I called customer service and again they would not help me. I again called the local branch and requested to talk to the manager, a Ryan McMichael. As typical of loan sharking companies of this nature he was of course not available.
I left a message for him to call me of which he did not. I did however receive a call from a Keith Freeman on April 4, 2008 who stated he was the Vice President (I wonder) of HFC. His number is 804-270-4867. I explained to him what had happened with the home equity loan and that I was requesting all the additional charges be waived.
As expected he was of little help and showed not sympathy. He did however indicate that he waive the additional finance and late charge and that I only had to pay $125.00 due on April 7, 2008. I dropped a check off for that amount on that day. I have now received an email notification that my account if past due and that the amount owed is the additional finance charge that Mr. Steve Freeman had just waived last week. What kind of people are they. Have they sold their soles to the devil? I have pretty good credit, not perfect but I do pay my bills.
My complaint is what is contractually right and what is morally right. These people want every dime they can get from hard working people. Well, I wil live on the street before I borrow from them again. A beg of you all, don't get involved. Don't be tempted as I was twice by that easy $5,000 check they send you. Tear it up immediately and mail it back to them. If people like us quit borrowing from people like them, they will soon be out of business. Google this place and read what they have done to others. They are morally criminal. It is my hope that I can cost them much more than that $35 they want from me.