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Report: #318243

Complaint Review: Green JTree - St. Paul Minnesota

  • Submitted:
  • Updated:
  • Reported By: Everson Washington
  • Author Confirmed What's this?
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  • Green JTree 800 Landmark Towers, 345 St. Peter Street St. Paul, Minnesota U.S.A.

Green JTree Simple Interest Loans are a consumer rip off St. Paul Minnesota

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Simple interest loans should be outlawed. They are usurious. When I got my loan I was newly divorced, a single mother and had a bankruptcy on my credit, Green Tree made this loan sound like it was a good thing for me. No one explained how they work, the interest rate sounded high, but they told me they would refinance for me after having a good payment record for a year. When I called them they laughed at me and said they don't do that. When I noticed that nothing was going to principle I tried making an extra 50.00 principle payment every month. But I still didn't get that posted to principle because it is a "simple interest" loan I was told. There was too many days between payments and they take all of the interest first.

I paid my payment every month on exactly the last day of the month and on more occasions then not it took over 2 weeks for my payment to get posted. Then I tried auto withdrawal from my bank, but when I added the extra principle payment there wasn't anywhere to mark that as a principle payment, so Green Tree took that for interest too. When I inquired about it, they told me I have to mark it as principle only. This only would work on payments made by mail. These payments weren't posted in a timely manner. So, in other words there was no way I could make extra principle payments. I tried making 1/2 a payment every 15 days, and that didn't work either... they didn't post the payments correct. I have been making my payment and sending extra for 10 years almost. I have already paid them over $60,000.00, which is more then the original loan amount and I still have 20 years left on my mortgage. Since my mobile home is in a park I can't seem to find refinancing!

Karen
Everson, Washington
U.S.A.

This report was posted on Ripoff Report on 03/15/2008 05:33 PM and is a permanent record located here: https://www.ripoffreport.com/reports/green-jtree/st-paul-minnesota-55102/green-jtree-simple-interest-loans-are-a-consumer-rip-off-st-paul-minnesota-318243. 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

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