• Report: #325228

Complaint Review: HFC

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  • Submitted: Thu, April 10, 2008
  • Updated: Sat, April 12, 2008

  • Reported By:Poquoson Virginia
HFC
2170 Colisuem Drive Hampton, Virginia U.S.A.

HFC, Household Finanace Morally corrupt Hampton Virginia

*Consumer Comment: A better explanation

*Consumer Suggestion: A simple observation

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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.

Frustrated
Poquoson, Virginia
U.S.A.

This report was posted on Ripoff Report on 04/10/2008 10:33 PM and is a permanent record located here: http://www.ripoffreport.com/r/HFC/Hampton-Virginia-23666/HFC-Household-Finanace-Morally-corrupt-Hampton-Virginia-325228. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.

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Updates & Rebuttals

#1 Consumer Comment

A better explanation

AUTHOR: Nikki - (U.S.A.)

Here is a better explanation what happened.

You stated you paid them the amount shown on your last statement. Here is the problem. Say on March 5, you owed them $1000. On March 6, your balance would have been more because they charge for 1 day of interest.

The $125+ you were charged was for the interest from the date of your last statement through the date you made your payment.

Mortgages are paid for in arrears. Your March payment is for February living. Your April payment is for March living, etc. So, the amount as shown on your March statement is for living there in February. You still have to pay for the additional days in March (my month's are wrong in your case, but you should get the general idea). It's not like rent where you pay in advance.

Your payoff figure is always more than the amount on your last statement. You still owe the daily interest.
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#2 Consumer Suggestion

A simple observation

AUTHOR: Cat - (U.S.A.)

There is no ripoff here. Had you made a loan with a person on the outside, with interest, signed and documented, I would expect that I believe you would expect in full before you would call it paid in full,

The way to get out of the financial mess you are in is to live on a sinple budget, pay off your smallest debt. If you have car payments? Pay them off. Become debt free and suddenly you will not need to boroow money at your bank. Surely you read the terms before the loan. never sign a loan before you read the terms and conditions.

Now before you assume I've never had hardships in my life let me explain my husband and I were turned down 26 yrs ago as a new married couple for a $500. loan. It was the best thing that could have happened. Was that a rippoff too?? I could have been pn here screaming it was a ripoff, but what it taught us is to be responsible and to work! My husband has worked 2 full time jobs for twentsix years of marriage to pay for our bills, pay our credit cards off and except for one small car loan and our house mortgage , we are debit free. It can be done.

Last week i under went my 45th major surgery so I know alot about financial hardships, I am writing to help. Please here me, in no way am i whinning, noone owes me anything. Life happens and it's up to us each individual person to take personal responsility and pay our debits off in full. Then move on to the next one. If it means another job, by all means do it!

I hope you or others will read this in the spirit of hellping i wrote this in. I have one hand to write this, so I would not have taken an hour to type this out if I only wanted to anger someone. Have an awesome day!

Cat
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