• Report: #968990

Complaint Review: Nationwide BiWeekly Administration, Inc.

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  • Submitted: Wed, November 14, 2012
  • Updated: Wed, December 05, 2012

  • Reported By: MD — Louisville Colorado United States of America
Nationwide BiWeekly Administration, Inc.
855 Lower Bellbrook Rd Xenia, Ohio United States of America

Nationwide BiWeekly Administration, Inc. Beware: This is a total scam. The Ohio Attorney General, Mike DeWine, should shut this company down. Xenia, Ohio

*Author of original report: Complaint Satisfied by Company

*REBUTTAL Individual responds: Pictures of first letter and contract

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On Oct. 4, 2012 my wife received a letter that indicated a recent refinance with SWBC.  The initial letter stated, "No Upfront Fee [in bold letters] to setup biweekly program (now deferred)."  This turned out to be false.  It looked like the letter was from SWBC or affiliate.  It promised a faster principle payoff on our mortgage if we used the service.  I called the company.  While on the phone, the agent sent me data which showed, over the entire period of the mortgage, how much principle would be paid off faster.  We never intended to keep the mortgage that long but I did not see the downside in signing up.  The agent never said anything about a large, non-refundable $998.50 "setup" fee or cancellation period for the service.  The agent sent a DocuSign agreement to me while we were on the phone. 

I looked it over quickly and signed it.  After I signed it and hung up the phone, I tried to retrieve it to print it out and read it more carefully but the document was no longer accessible.  The next business day I called Nationwide and asked that they mail the contract to me for my records.  The contract was not mailed until seven business days later.  I inquired several times where it was during that period and was told it would be mailed.  When I received the contract I saw that the contract could be cancelled within seven business days without incurring the fee which explains why they took so long to mail the contract. 

Additionally, one clause in the contract made mention of a non-refundable setup fee equivalent to one bi-weekly withdrawal.  There was no actual dollar amount stated and apparently no full disclosure statement required.  The service would amount to an extra mortgage payment per year but not the first year since the fee is the first withdrawal made.  The extra payment amount is made every six months not upon withdrawal.  This is not specified in the contract.  This is a total scam and I am very surprised that the Ohio Attorney General, Mike DeWine, has not protected the people of Ohio or the country from this company and its unethical tactics.

This report was posted on Ripoff Report on 11/14/2012 09:14 AM and is a permanent record located here: http://www.ripoffreport.com/r/Nationwide-BiWeekly-Administration-Inc/Xenia-Ohio-45385/Nationwide-BiWeekly-Administration-Inc-Beware-This-is-a-total-scam-The-Ohio-Attorne-968990. 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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REBUTTALS & REPLIES:
2Author 0Consumer 0Employee/Owner
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#1 Author of original report

Complaint Satisfied by Company

AUTHOR: MD - (United States of America)

The company provided a full refund.  I found their response to be responsible and fair.  Please dismiss my case against them.
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#2 REBUTTAL Individual responds

Pictures of first letter and contract

AUTHOR: MD - (United States of America)

This is the initial letter and a portion of the contract with the only setup fee information in the DocuSign document.
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