Report: #161800

Complaint Review: Conseco - Green Tree Finance

  • Submitted: Sun, October 23, 2005
  • Updated: Mon, October 24, 2005
  • Reported By: Memphis Tennessee
  • Conseco - Green Tree Finance
    P O BOX 6172
    RAPID CITY, South Dakota

Conseco - Green Tree Finance ripoff,dishonest,frauduent billing,misapplied payments RAPID CITY South Dakota

*Consumer Suggestion: Conseco is now Greentree-horrid company

Show customers why they should trust your business over your competitors...

I'm a customer of Green Tree and back in 1996 I and my ex-husband bought a manufactured home and was giving and contact. I've been sending in extra payment to pay this home off in 10 years instead of the 20 years that Green Tree asked for O'kay the 10 years are up and Green Tree stated that they did a review of the account discloses that all payment have been calculated and applied in accordance with the contract. Which is a Lie, my regular monthly home payments is 208.96 and are due on the 1st of each month for 240 months. Like I said I've paid payments of 356.30 a number of 72 payments and they took and applied the money to interest and mis. They also states the by submitting extra monies to principal only the loan should be paid in full prior to the original maturity date. However as of today's date which was 05/31/05 my account has a principal balance of 8,717.94. But this is not the amount required to pay the loan in full.

I've this information to an attorney and he told me that he could not tell what all the other charges were,and my best best is to seek an CPA to due an audit on the books,that has not yet happen due to the finance. But what I did do was to contact my local state rep and asked him about the predator lending law which states that they can not add additnol intrest on this kind of loan and also it suppose to be against the law for a company to sell you contact to another company,it very by the states..

Memphis, Tennessee
Is this Ripoff Report About you?
Ripoff Report A business' first line of defense on the Internet.
If your business is willing to make a commitment to customer satisfaction Click here now..

Does your business have a bad reputation? Fix it the right way. Corporate Advocacy Program™

Set the record straight: Arbitration Program

SEO Reputation Management at its best!

This report was posted on Ripoff Report on 10/23/2005 01:58 PM and is a permanent record located here: 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. Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report. READ: Foreign websites steal our content

Search for additional reports

If you would like to see more Rip-off Reports on this company/individual, search here:

Report & Rebuttal
Respond to this report!
Also a victim?
Repair Your Reputation!

Updates & Rebuttals


#1 Consumer Suggestion

Conseco is now Greentree-horrid company

AUTHOR: Joe - (U.S.A.)

Conseco got bought out by GreenTree after going belly up. Bad thing for anyone.

One thing to note...when you did send in your added payment, did you properly notate on the payment that the extra money was for principal? If not, many banks will just stick it into a "suspense" account and let it sit there until you tell them what to do with all your interest still piles up on the original amount at the original ammortization.

a simple mortgage calculator that you can also get an ammortization table done from your loan figures:

If it does, just google search under Karl's Mortgage Calculator to find it. It's the best tool I found for this sort of thing. See if your payments match up to what you thought for ammortization needed to pay off your loan. It shows what you normally pay, and what happens if you pay any additional amounts.

You can also print out tables to compare...pretty handy and free to use. I use this all the time with my clients and show it to them to let them know visually what to expect.
Respond to this report!
Ripoff Report Recommends
ZipBooks Accounting Software

Advertisers above have met our
strict standards for business conduct.