HC Processing Credit card/loan fraud Springdale Arkansas

I took out a loan with HC Processing for a Tempur-pedic bed last June. They offered me a 24 month same as cash loan. I arranged with my bank to send out a check for a little more than half the total due every 2 weeks on my payday. I thought because I had it set up with my bank to automatically pay that I COULDN'T be late. WRONG!!

At the beginning of October I got a notice that I was late with my payment and that the terms of my loan were void. Not ony did I have to pay a late fee, but now I have to pay 22% interest and retro-active interest back to June.

The "customer service" (note sarcasm) representative told me that any payment made before the statement start date would be applied toward the previous billing cycle. So even though I made 3 payments in September I was, somehow, late on my October payment. They applied the first payment toward the previous billing cycle and my last payment didn't arrive on time.

The customer service rep explained how they applied my payments and told me I should have been aware of this. How?!? No where, on my statements does it say that any payment made before the statement start date would be applied to the previous billing cycle. I've also looked over my original contract and it doesn't say anything like that either.

Their billing policy is psuedo-inethical, at best.

Cynthia
Portland, Oregon
U.S.A.