Household Finance fraudulent rip-off business Carol Stream Illinois

After obtaining several quotes from several companies for siding for my house, I decided that Sears was my best choice and the monthly payment of $200.00 was managable. After a year I received a statement from Household Finance indicating that my payments should now be mailed to their address and my monthly payments were increased to $290.

How could this be when I signed a contract with Sears for a specified monthly payment. I called Sears and was given the run around finally advising me to contact Household, who advised me that they had the right to increase payments which would benefit me in a long run because my account would be paid off sooner. I can see a script was given to all customer service reps to give.

Also, I later discovered that Sears was still reporting on my credit account that I had an account with them with a monthly payment of $200.00 and Household Finance was also reporting a monthly payment of $290.00 for the same purchase.

Sears has at my request sent a letter to the credit bureau indicating that they no longer finance my home improvement account and made a request for an update to my credit report.

The fact still remains how can a finance company acquire your loan and decide what your monthly payment will be regardless of the contract that you signed with the company you initially had the account with. Isn't this fraudulent. Please advise!

Iris
Chicago Heights, Illinois
U.S.A.