- Report: #239929
Report - Rebuttal - Arbitrate
Complaint Review: HOUSEHOLD FINANCIAL CENTER - HFC
HOUSEHOLD FINANCIAL CENTER - HFC1421 KRISTINA WAY CHESAPEAKE, Virginia U.S.A.
HOUSEHOLD FINANCIE CENTER - HFC - BENEFICIAL RIPOFF DEFERRED INTEREST NO GRACE PERIODS CREDIT DAMAGE HOUSEHOLD FINANCE CHESAPEAKE Virginia
*Author of original report: Thanks for your explanation
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During the times that I went to the local branch to discuss with them my options when I had problems back at the beginning of 12/05 and again the middle of 2006 a lady by the name of Tara told me that as long as I made my payment within the grace period I would have no problem. I now find out that they start charging compound interest on my payments as soon as I miss a day. Is this legal? I thought you have up to 10-15 days to make your payment and that point then you will be charge a 5% fee one time. These people are not following this rule.
I checked my contract and states that I have 10 days and then they will charge the 5%, there's no mention of any deferred interest. I called and asked for a copy of the payments on the account and they are amount they charge for deferred interest has not consistency, and they are not applying any money I send to the principal. If I pay by the 30th then they apply to the principal, if I pay by the 1st then they apply every single dollar I send to the interest. Is this legal???? Please help!!! I need to know what are my rights and if this people are in their right to still my money this way!!!!
I will appreciate any advice you can provide for me. I have read some of the report on this website and I am totally shock. Please if anyone would like to contact me my email: (((ROR REDACTED E-MAIL ADDRESS FOR SECURITY PURPOSES))), we need to stop this, and politicians need to think about the people that put them in office!!!! Not the companies that pay their way!!! I also already file a complaint with Attorney General in FL, not sure if that is of any help waiting for their response.
PS: for those of you that read this reports and think that people are just using the system to get away with their payments, I am here to tell you THAT'S NOT ME!!! I am a hard working individual and so is my husband, he served in the military for 20 years and when he came out he was not able to find employment ( a decent one that is), it took him a long time to get one that will pay enough. There might be people out there that might abuse the system, but there is a lot of other people that encounter situations that pushes them to try to survive, and some are not able to make it. I was laid off three months 03/2004 after I bought my house, my husband was force to retirement right before the war on Iraq 03/2005 it was retirement or Iraq he had already serve 20 yrs,and could not stay any longer. I tried to make as much of my payments as I could since I was the only one employed for a while. Ever since that laid off we have not been able to catch up, so please spare me!!! I think these companies take advantage of the people in need then the first opportunity they have they turn around and rip them off.
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This report was posted on Ripoff Report on 03/20/2007 05:25 PM and is a permanent record located here: http://www.ripoffreport.com/r/HOUSEHOLD-FINANCIAL-CENTER-HFC/CHESAPEAKE-Virginia-23320/HOUSEHOLD-FINANCIE-CENTER-HFC-BENEFICIAL-RIPOFF-DEFERRED-INTEREST-NO-GRACE-PERIODS-CRE-239929. 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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