I entered into a repayment plan with Option One in June of 2007. Our arrangement was to be for one years time. On June 25, of 2008 our agreement was completed and I thought I was completely caught up on my house payment. I received a letter from Option One on July 22, 2008 stating that I was behind in the amount of $7,817.30.
They stated that I had missed the payment for the month of March 2007 plus accruing late fees and costs. I called them immediately to rectify the situation because I had receipts from Western Union for every month of the agreement I told them I had proof of payment from March of 2008. They put me on hold for 20 minutes and came back and told me that during my repayment plan my interest rate had changed and that although we had made our payments on time that the money I sent had not covered the additional interest and therefore I was in arrears of over $7,000. "Oh by the way can you pay that today".
All the phone operators there do not speak very good english and you can hardly understand what they are saying. I tried to make a payment arrangement which they make arrangements that are impossible to make. They told me they needed $3,892.80 in 3 days and that same amount for the next three months. I told them I could not possibly make that arrangement and asked to speak to a Supervisor. I was again put on hold after 10 minutes the phone hung up on me. At this time the office was now closed of course. I then received a phone call at 10:30pm in the evening tell me my house was in foreclosure proceedings.
I called back the next day to speak with a Supervisor. He was extremely rude after I had tried to explain my case. He told me that the best he could do was $2,400 in 3 days and that same amount until February. I told him I could not do that but I could pay an additional $500 per month until caught up and his reply was I guess we will have to continue with foreclosure proceedings. That night a photographer was at my home taking pictures of my house for the Mortgage company to check the condition of my home.
I am extremely worried especially after reading all of the other complaints on this company. They do not keep their promises and seem to do whatever they can to take your home.
The supervisor also informed me that they had send a letter of intent to foreclose on August 1 that I have never received. I feel that my hands are tied and I have no where to go. I am very frustrated to find out that after a year of making $500 a month more for the payment arrangement that I am still $7,000+ behind on my house payment and no way to find an additional $2,400 in three days.
I am at a lose as to where to turn. If you have any advice, please let me know.