Okinus Leasing Exorbitant financing fees. Georgia

I purchased furniture at a local store and I was suggestively sold a financing option with Okinus. It was 90 days same as cash.  The problem was if you go beyond 90 days the interest was twice the original purchase amount. For example $3,000 worth of furniture would cost over $8,000 if loan goes full term.

There was also a clause about early payoff with a minimum of 66% of the total cost to payoff early. I called when I had payed double what the original purchase amount was and they told me I owed another $2,200.  

After reading all the complaints and consumer reports where others had complained I had decided I could tell them to come get the used recliners and mattress and I could put the $2,200 to use on new furniture. 

Fortunately, my call was answered by Laurie. She was very polite and helpful. I was able to reach a settlement with Okinus to satisfy the contract and keep the furniture. We executed a new contract and I am satisfied with the outcome.

I am not upset with Okinus because they have a business model that has a ridiculous amount of interest. I am upset with the furniture store that pushed this service and didn't disclose the nature or full amount that I would owe.  Read the fine print before you sign and make sure there is full disclosure of what you will be expected to pay. 

In reaching the settlement I will not be able to do business with Okinus again. Not something I would do again, or in the first place if I had known what I was getting involved with. Customer service was great. Just not a product that most consumers would choose if they had all of the facts.