• Report: #23891


  • Submitted: Tue, July 02, 2002
  • Updated: Thu, July 04, 2002

  • Reported By:ALTADENA CA
City of Industry city of Industry, California U.S.A.

HRS USA/SEARS HOME IMPROVEMENT is a ripoff that increases in interest rates without permission. City of Industry, California *UPDATE ..Sad But True Reality

*0: Sad But True Reality

*Consumer Suggestion: read sears contract

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On June 12, 2002 HRS USA sent to me a dun letter stating that I was late in making a payment. I did NOT have an account with HRS USA and I was wondering what were they talking about. There was a bill included and when I looked closely I discovered that SEARS HOME IMPROVEMENT had sold my account to them!

I recieved this letter a week later. The next day I called, told them my payment had been made in person at my local Sears Store, gave them the check number et al and was asked to fax a copy of my receipt. This is when I was told that Sears had JUST sold these accounts to them and I should have recieved a letter advising me about the transfer.

I told them NO, this dunning letter is the first thing I have recieved pertainig to this issue.

Then, today, July 2, 2002, I called to be sure that my account was properly credited and to make a payment by phone. It was credited BUT this is when I learned that my NEW monthly payment was going to be $168.00. When I protested that this is in violation of the contract I signed with Sears 2 years ago, I was told that they raised the interest rate because the contract was now theirs. If I did not pay it, then I would be charge the $29 late fee.

I was told that I could protest the rate -- with no promise that anything would change -- by faxing my complaint to 1-800-433-5975 attn: Corespondence. Then I asked for a Supervisor. She stood her ground stating the same. When I stated that I've paid the $121 for 2 years now and that I do not HAVE the extra $47 she did give me the number of their consumer credit office at 1-800-220-8588. I have not called them yet.

I am used to Mortgage Companies selling contracts, it has happened to ours 5 times in the last 8 years BUT THE PAYMENT WAS NEVER RAISED! How can HRS get away with this. It must be illegal.

I, for one, will fight this -- even if it means defaulting on the loan. I signed NO CONTRACT with this company. I did NOT receive any letter informing me that they were going to become a part of my life until the deed was done, and it was NOT a letter telling me that I had 30 to respond IF I didn't want my rates to go up. It wasn't until I read some of the other complaints that I learned that such a letter was "supposed" to exist.

To HRS USA: My your business practices be returned unto you 7-fold. May you be blessed as you have blessed others.

Altadena, California

This report was posted on Ripoff Report on 07/02/2002 05:28 PM and is a permanent record located here: http://www.ripoffreport.com/r/HRS-USASEARS-HOME-IMPROVEMENT/city-of-Industry-California-91716-0107/HRS-USASEARS-HOME-IMPROVEMENT-is-a-ripoff-that-increases-in-interest-rates-without-permis-23891. 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 0

Sad But True Reality

AUTHOR: - ()

I would like tell what i have learned after speaking with the authorities and reading my Sears contract with a magnifying glass:

1) The Sears contract has a fine print clause that allows for a change in the terms of the contract. I was stupid enough to have believed the salesman when he told me "not to worry, that wouldn't happen" when I asked about it. Plus, I thought that I would have the account paid off early, so didn't think more about it.

2) HRS is not lying when they said that they and Sears agreed to the increase. The Sears representative confirmed that statement.

3) What Sears and HRS USA have done is 'legal'. It isn't ethical or moral. It is not what most of us ordinary consumers would expect anyone to KNOWEINGLY do to us, becuse we wouldn't do it ourselves. Unfortunately, Businesses DO NOT have to be ethical or moral. Just legal.


Do not do business with Sears.

Do not knowingly do business with HRS USA.

Do not do business with other businesses that offer financing through HRS USA such as Guitar Center, Best Buy, CompUSA etc.

Tell everyone you see in these establishments not to do business if it involves credit because they run the very real chance of being ripped-off like the rest of us trusting souls.

NEVER believe a salesman or loan rep. Don't buy it if you cannot afford it. The sale be damned.

READ THE SMALL PRINT! ALWAYS! Nobody will have any sympathy for our excuses when we say "I didn't know that!"

Remember, whever we indulge in credit, we are swimming in a sea of man-eating sharks. BE CAREFUL!
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#2 Consumer Suggestion

read sears contract

AUTHOR: cj - ()

if you read your sears contract it clearly states that sears has the right at any time to sell the accounts and have the other company increase the payment. Every company has differant payment factors.
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