HOUSEHOLD FINANCIE CENTER - HFC - BENEFICIAL RIPOFF DEFERRED INTEREST NO GRACE PERIODS CREDIT DAMAGE HOUSEHOLD FINANCE CHESAPEAKE Virginia

I acquired a refi loan with this company in 12/05, Since then I have been laid off, and my husband retired from the Army, and with this retirement came a lot of adjustments including taking over four months to find a job that would pay for our bills. Even through all this I was able to make partial or full payments. As of right now I am current. My prepayment penalty expired and I am looking into refinancing my loan, but to my surprise when I called to find out information about my account balance they told me that I had accrued over $14,000 on deferred interest. When I asked how this had happened and why, they told me because of the time I had been late in the past and because if I don't pay the loan on the 30th instead of the 2nd, I will incurred on these charges. I also find out that my credit score has been damage because they report you late if you don't pay on the due date.

During the times that I went to the local branch to discuss with them my options when I had problems back at the beginning of 12/05 and again the middle of 2006 a lady by the name of Tara told me that as long as I made my payment within the grace period I would have no problem. I now find out that they start charging compound interest on my payments as soon as I miss a day. Is this legal? I thought you have up to 10-15 days to make your payment and that point then you will be charge a 5% fee one time. These people are not following this rule.

I checked my contract and states that I have 10 days and then they will charge the 5%, there's no mention of any deferred interest. I called and asked for a copy of the payments on the account and they are amount they charge for deferred interest has not consistency, and they are not applying any money I send to the principal. If I pay by the 30th then they apply to the principal, if I pay by the 1st then they apply every single dollar I send to the interest. Is this legal???? Please help!!! I need to know what are my rights and if this people are in their right to still my money this way!!!!

I will appreciate any advice you can provide for me. I have read some of the report on this website and I am totally shock. Please if anyone would like to contact me my email: (((ROR REDACTED E-MAIL ADDRESS FOR SECURITY PURPOSES))), we need to stop this, and politicians need to think about the people that put them in office!!!! Not the companies that pay their way!!! I also already file a complaint with Attorney General in FL, not sure if that is of any help waiting for their response.


PS: for those of you that read this reports and think that people are just using the system to get away with their payments, I am here to tell you THAT'S NOT ME!!! I am a hard working individual and so is my husband, he served in the military for 20 years and when he came out he was not able to find employment ( a decent one that is), it took him a long time to get one that will pay enough. There might be people out there that might abuse the system, but there is a lot of other people that encounter situations that pushes them to try to survive, and some are not able to make it. I was laid off three months 03/2004 after I bought my house, my husband was force to retirement right before the war on Iraq 03/2005 it was retirement or Iraq he had already serve 20 yrs,and could not stay any longer. I tried to make as much of my payments as I could since I was the only one employed for a while. Ever since that laid off we have not been able to catch up, so please spare me!!! I think these companies take advantage of the people in need then the first opportunity they have they turn around and rip them off.



Enid
PLANTATION, Florida
U.S.A.

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