RAC Acceptance Trying to over charge me Internet, North Carolina

What you "think" does not mater..sorry but it does not.  The fact is that you admit that the furniture was only around $2,300 and they quoted you 32 payments of $235.  If you had a problem with the 32 payments..the time to bring that up was BEFORE you signed the agreement.  If even after their explanation you still don't understand..you don't sign until you do.  This not only goes for this location but ANYTIME you are in a situation where you need to sign an agreement/contract.  Such as when you go for a car loan.

But then again this is a Rent-to-Own place and if you don't like it there is nothing keeping you from returning the items and find a place that you can get items at a lower price.

And as for what we were told about the whole payment coming off of the principal, the lady DID put it in writting.
- I would love to see where that was put in writing.  Perhaps I could be wrong, but most likely you have either never bought anything on "credit" before, or you have had severe credit issues such as delinquencies, charge-offs, repossessions...etc.  Because both of those would explain why you don't quite seem to understand how financing works, and ended up at a Rent-to-Own place.

Please don't take this as an insult.  You really need to read up on how loans work.  It's essential  you understand this for any future purchases you make.

Do an internet search for free loan calculators also.  They will show exactly how much of your payment goes to the principal and how much to interest.  You will see that loans start with much of the payment going to interest at the beginning and changing over time to most of it going to the principal toward the end. Some calculators will provide a printout showing every payment for the life of the loan.

When you first encounter the realities of loans it's a little shocking but at least you'll understand how they work.

Good luck to you.

Over 6,000 dollars in interest? I dont think so. Not on  a bed. Also it is not only in the begining that only 54.00 dollars is going to the principal, it is the whole 32 months. They have it fixed where they are making an extra 5,796.00 dollars on top of the 2305.00 the beds actually costed. And as for what we were told about the whole payment coming off of the principal, the lady DID put it in writting. But now they will not honor it saying she lied and no longer works for them.

We were told we would have 32 payments of 204.99 plus taxes and fees totaling 235.24.
- You admit that this is what they told you.  If you calculate out 32 payments of 235.24, you would have found that you would be paying a total amount of $7527.68 for furniture that you could have gotten for $2305.65 if you paid cash.

So they told you correctly but it seems that you don't understand financing.  Because having only about $54 come off of your balance in the beginning sounds about right.

The ONLY issue you may have a valid complaint on is they "buy-out" at the end of the 32 payments.  If that is not in your signed contract you would have a valid complaint.   But it matters what is in WRITING not what you were "told".

I am in the process of getting a lawyer.
- Most likely the lawyer will tell you the same thing.  If they tell you anything different be very leery..especially if they ask for any money up front to represent you.  Because you may be back here in a few weeks writing a RipOff report on them.