- Report: #34230
Complaint Review: Household Finance Corporation All employees of Local Branch Office - Lakewood Colorado
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Author Not Confirmed
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Household Finance Corporation All employees of Local Branch Office
98 N. Wadsworth Blvd. Lakewood, 80226 Colorado, U.S.A.
Phone:
303-237-9571
Web:
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Household Finance Corporation, All employees of Local Branch Office Contract vague & unexplained, misapplied payments, not crediting payoffs so they can get more interest ripoff consumer rip-off fraud Lakewood Colorado
We closed our loan in Sept. 2000. My husband, 65 at the time, was forced to sign up for life insurance -- the kind that is null & void at age 65, but were promised this charge was in error and would be handled immediately. 7 Months and numerous phone calls later, I got it done, but no return of premium paid.
Our loan contained a 5 year pre payment penalty clause; we were told it was only 2 and that the verbage was in error. LIE.
We were told that by making bi-weekly payments our overage would be applied to the principal--instead, they were tacked on as another payment. By the time I caught on to what was happening, we were paid 4 months in advance, but the interest was eating us alive. I finally forced the "Local Branch" to stop the automatic bi-weekly withdrawal from my account.
We refinanced our mortgage and closed on 10/16/02. The payoff was sent to HFC and the Title company confirms the check was cashed, but the payment has not been applied. I have received another bill. The local branch says maybe the payment has been received, but just not applied yet. They are again trying to make more interest.
Enough said??? Bring on the consumer advocate or whomever you choose. I am ready to do battle.
Linda
Lakewood, Colorado
Our loan contained a 5 year pre payment penalty clause; we were told it was only 2 and that the verbage was in error. LIE.
We were told that by making bi-weekly payments our overage would be applied to the principal--instead, they were tacked on as another payment. By the time I caught on to what was happening, we were paid 4 months in advance, but the interest was eating us alive. I finally forced the "Local Branch" to stop the automatic bi-weekly withdrawal from my account.
We refinanced our mortgage and closed on 10/16/02. The payoff was sent to HFC and the Title company confirms the check was cashed, but the payment has not been applied. I have received another bill. The local branch says maybe the payment has been received, but just not applied yet. They are again trying to make more interest.
Enough said??? Bring on the consumer advocate or whomever you choose. I am ready to do battle.
Linda
Lakewood, Colorado
2 Updates & Rebuttals
Jeff
Bradenton,Florida,
U.S.A.
Forced insurance by the company - life-disability-householdgoods
#2UPDATE EX-employee responds
Wed, June 25, 2003
Houeshold/Beneficial Finance and ALL the finance companies and sub prime lenders MAKE A LOT OF MONEY "selling" the "required" insurance packages that they push. The insurance that they are pushing offers very little coverage or protection to you, the consumer. This "insurance" does offer a lot of money to the lender. The office Managers make a "bonus" or a "commission" on these insurance premiums sold. I know, I was once manager for this firm. The "insurance" package that they offer are all VOLUNTARY. They are not in any way required or needed "by law" to make this loan. If you have any of these insurance packages you should be able to cancel them and either get the unpaid premuims refunded back to you or credited to your loan balance. Check with the Insurance Commissioner in your state. Get the requirments regarding the insurnace on loans from creditors for Life, Disability of House Hold Goods protection. You should find that the "insurance" that these companies "require" are all VOLUNTARY. The lender may need life insurance protection on a large loan, fine, make the lender a "loss payee" from your life insuarnce policy. If you dont have a life insurance policy , shame on you, GET ONE, PROTECT YOUR FAMILY. In the event you die this policy pays off the loan and it doesnt cost you any more money and your spouse wont lose the house since it is secured as colateral against the loan . Check with your local insurance agent about the proper insurance coverages you may need. You will probly find that you can buy 10 times the amount of coverage and better protection for what the "credit companies" are charging you. Remember, the credit companies are going to do anything they can to make money from you. Pull your credit file. Get a copy from each of the three credit reporting firms. It may cost you a small fee , $9.00 to $12.00, to get your report but it is well worth it. Once you see whats in your credit fle and what your credit score is,you may find that once your cedit score is around 720 or higher you should be able to go to just about bank and get a loan. If not , then then you can work on getting your credit file made stronger ( it takes a little time)and then you can get a loan from a "real" bank and payoff these "bottom feeding sub prime lenders". Did you know a typical credit card with a $2,000.00 balance is amortized (length of loan) over 30 years to payoff? Check it out! Research who you borrow money from BEFORE borrowing the money.
Mark
Machesney Park,Illinois,
U.S.A.
poor timing on the consumer's part
#3Consumer Suggestion
Thu, June 19, 2003
The reason why most of the time most of these accounts do not drop in balance despite on time full payments is because of timing on the bank's part and poor timing on the consumer's part. I learned this the hard way myself. Upon receiving the statement to pay the monthly balance, most people wait until "payday" to send it off. This is a MISTAKE! Some rip off companies know this and use it to their advantage. The best thing to do to counteract this fraudulent action on the bank's part is to send in a full payment upon receiving the statement THE SAME DAY. Never use priority mail. Only use first class(.37) or overnight. Ask at the post office for a merchant's receight. If there is still a problem, if available, use early internet payments by supplying the bank with your e-mail address and another credit card number, atm/debit card number, or checking account numbers. This ensures the payments get there BEFORE DUE DATES. Do not just send in the minimum either; always send ten dollars more than the requested amount. This action on your part will drop the balance faster.
