Easy Pay Financing Highway Robbery Nationwide

I have a very poor credit rating and heard of a furniture company that has easy finance options for those with bad credit. I was approved for $1500 and purchased a sectional sofa and love seat for $935. I had the option of paying the balance interest free in 90 days but was unable to do so. My payments began at $177/month with hopes of paying it off in 12 months. I missed one payment and was contacted by Easy Pay Financing to make other arrangements that were more affordable for me, so I arranged at $100/month.

After making 5 straight payments I reviewed my account to discover an interest rate of 189% and payments (not one cent) going towards the principle. I called Easy Pay Finance to inform that I could no longer pay at an arrangement like that. I was told the payments towards the interest would cap off after 15 pays of $100 and then my payments would go towards the principle. So get this: $534 already paid + $100×15 more interest payments + my remaining principle balance of $902 = $2936! Furniture quality is horrible as well. Made from pressed saw dust. I can move it easily with a few fingers! Ok that's an exaggeration but you get the idea.

That's how consumers with poor credit are taken advantage of and are treated. When contacting Easy Pay Financing, I was given two options, settle today at $1200 (mind you I've already paid $534) or they will mark my account as a refusal to pay which will ruin my credit even more. I agreed to continue making the $100/month payment at least for January but told the manager I cannot and will not continue on this track with none of the payment going towards the principle balance. I guess I will soon take another ding on my credit. Highway Robbery! SedsMama Las Vegas