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  • Report: #1064528

Complaint Review: Okinus Financial

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  • Submitted: Fri, July 05, 2013
  • Updated: Fri, July 05, 2013

  • Reported By: Frustrated — Covington Georgia
Okinus Financial
157 w railroad st. Pelham, Georgia USA

Okinus Financial Buyer please, please beware! Pelham Georgia

*UPDATE Employee: Read

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Do Not use this company for financing if you don't intend to pay off in 90 days! After 90 days, they assess a finance fee of 100%. My monthly pymt was $204.00 and $91.00 of that went toward fees. In this case, it increased my payoff amount tremendouly. This type contract keeps you locked in because half of every pymt goes into a hole, called Okinus. Also, if the furniture is returned, it is reported negatively on your credit until full balance is paid.

There is no credit provided to the consumer for voluntarily giving furniture back. My total payoff amount on the purchase date was $1981. Today, three months later, and $612 out of pocket, the payoff is over $2000. The $612 vanished into thin air(AKA) Okinus profits! I fell like a fool for signing this kind of contract. I made three steps forward, and got put back a little more than 3 mos payments. Again, please beware!!!!


This report was posted on Ripoff Report on 07/05/2013 05:34 AM and is a permanent record located here: http://www.ripoffreport.com/r/Okinus-Financial/Pelham-Georgia-31779/Okinus-Financial-Buyer-please-please-beware-Pelham-Georgia-1064528. 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 1Consumer 0Employee/Owner
Updates & Rebuttals

#1 UPDATE Employee

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AUTHOR: delilah2010 - ()

The Contract which our Customer's are provided before going through with the deal shows everything in plain black and white not to mention it is only two pages. Okinus always gives the Customer an early payoff option no matter if you are out of your 90 days SAC period or have just purchased the furniture. The problem is that most people are so ready to get the furniture that they fail to read the Contract or ask the important questions. We are a second chance for people to improve their credit, we do not check the Customer's credit which is a big chance Okinus is taking which is why we do a Lease purchase agreement, yes there are Lease Fees but you are made aware of this in the 2 page Contract. If you return furniture and you owe no balance it reports as Account closed to credit agencies, if you return the furniture with a balance it reports as Account Closed; with a standing balance. 

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