In 2005 I entered into an agreement similar to a same as cash type arrangement with GE Moneybank. Actually it was FActory Direct Furniture but GE Moneybank is who they use for credit. The min. monthly payments were to be $216.00. Each month I paid $316.00 a $100.00 more than the miniumum payment. My final payment was due 2/10/05. I have a copy of GE Moneybank's statement that shows them applying my payment 2/8/05 in the amount of $6,095.00. In March I received a statement from GE Moneybank that the payment was short $216.00 and they tacked on $973.88 as finance charges. I immediately researched the problem and determined that my bank cancelled the final $216.00 for reasons I have never determined. I beleive that at the time when they recieved my request for the $6,095.00 they assumed that I no longer needed the $216.00. I immediately sent GE Moneybank the $216.00 with a letter apologizing for the error and the check cleared my bank on 3/5/05.
It is obvious my intent was to pay the account off in full by the 2/10/05 due date. My remaining payment cleared their bank in less than 30 days from the original due and in the normal course of business that constitutes a timely manner.
I have provided all this proof to GE Money Bank, Asset Acceptance, and Kramer and Frank. They are suing me for $1,347.89. There are more than 20 pages of complaints on GE Moneybank and Asset Acceptance and few for Kramer and Frank.
I want them to stop harrassing people. This is unfair and unjust treatment of me as a person and a creditor. My proof is in my payments and 227.15 of the FDIC Consumer Protection which states that is an unfair act when charges are accessed on payments made within an applicable grace period.
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