• Report: #1163412

Complaint Review: Okinus

  • Submitted: Sat, July 19, 2014
  • Updated: Sat, July 19, 2014

  • Reported By: Ataylor — Indianapolis Indiana
Okinus
Nationwide USA

Okinus Quality Time 100% plus interest rate Pelham Georgia

*UPDATE Employee: Okinus Rebuttal

*Consumer Comment: If you have received a discharge from your BK then you aren't personally liable for the remaining debt

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Okinus is a company used by many furniture stores to finance (Lease) furniture. I purchased furniture from a store puttiing down $300 on $2100 worth of furniture and was charged 100% interest rate. I was not aware that I was Leasing furniture, as you would from a Rent-a-Center and was subjected to outrages charges and fees. Okinus tagged on fees & interest on furniture financed by two family members equalling almost 200%. After they paid off Okinus they continued to receive harassing calls from the company. Okinus is a true Rip Off company and should be put out of business. I paid on my furniture to the excess of reasonable interest and then included them in my Bankruptcy. Okinus submitted a reaffirm request to my attorney after my court date and are requesting continually outrages payments or the furniture. I'm not going to stand and let this company continue to take advantage and rob people. I am reporting to every agency against this company and starting a petition on Change.org.


This report was posted on Ripoff Report on 07/19/2014 02:06 PM and is a permanent record located here: http://www.ripoffreport.com/r/Okinus/nationwide/Okinus-Quality-Time-100-plus-interest-rate-Pelham-Georgia-1163412. 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:
0Author 2Consumer 0Employee/Owner
Updates & Rebuttals

#1 UPDATE Employee

Okinus Rebuttal

AUTHOR: Okinus, Inc - ()

Okinus, Inc contracts state "Lease Purchase Disclosure and Terms of Agreement", also gives option to pay account off in 90 days same as cash. The contract states the terms, due date and fees associated. Okinus, Inc also sends a Welcome Letter to all customers with an overview of contract informing to contact Okinus, Inc for any questions or concerns.Okinus, Inc does not add fees from family members, Okinus, Inc does not charge interest.

As stated you should consult with your attorney for your rights as they pertain to the particular bankruptcy relief you are entitled to.

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#2 Consumer Comment

If you have received a discharge from your BK then you aren't personally liable for the remaining debt

AUTHOR: FloridaNative - ()

Because you have filed BK on the creditor and not reaffirmed the debt, according to your post, then you aren't responsible for the balance due. However, leases are handled differently in the bankruptcy court so make sure you get proper instruction/guidence from your attorney.

As I understand it, because the furniture was leased and not purchased, you would have to return the collateral to the creditor or work out some sort of lump sum release payment to terminate the lease. This is something your BK attorney would handle in your bankruptcy case. Your BK attorney may charge you extra to go this extra step, but it would be worthwhile to put this to an end IMO.

As to not knowing it was a lease: I don't understand how that can happen because the vendor would have had you sign a written lease agreeement in order for it to be enforceable. I am not defending the right to lease as I think it is a terrible way to 'purchase' anything except in very narrow business oriented circumstances.

Good luck with terminating your lease. Do it right away. There is a time frame within the bankruptcy under which leases can be terminated or they are renewed.  Call your attorney right away.

 

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