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American Finco Financial Services, LLC

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9595 Six Pines Drive, Suite 8210
The Woodlands, Texas
United States - 77380

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American FincoLate Fees

I agree with all of the complaints regarding this company. I "paid off" my water softener 17 days before the due date with the balance they listed. I now have a charge for $11.43 for finance charges, even though I wrote Paid in Full on the check. I will NEVER use this company again and would think something could be done to stop these people.

This was supposed to be 12 months same as cash but they didn't post a check until after the due date, even though I sent it 2 weeks before that date.

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    The complaint has been investigated and
    resolved to the customer's satisfaction
    Resolved
    American Fincowater softner

    Me estan cobrando un late fee de $ 235.00 que en realidad el error fue de ellos. Yo les avise que no me habia llegado mi estado de cuenta y ellos dijeron que lo quitarian y nunca lo hicieron y ahora ya se acomularon intereses de 5 meses de un late fee y ahora quieren que pague por un error que fue de ellos.

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      • Pa
        Paula J. Jul 08, 2009

        Beware!!!
        Anyone who deals with companies associated with American Finco Financial Services. I purchased a water system from a local dealer in Oklahoma City, OK who financed their product with American Finco Financial Services in Schaumburg, IL. I pay my account on time and also pay more than the minimum payment but they still raised my interest rate twice since December 2008. It is now at 25.99%. American Finco is associated with CIT Bank. If american finco or cit bank is having money trouble this is not the way to solve it. In the future if things get better for them I will assure you this policy will not be forgotten and they will have a hard time restoring their reputation.

        0 Votes
      • Ja
        Jackie Coe Aug 03, 2009

        I agree that American Finco seems to be quite shady in their dealings. I, too had my interest rate raised for no apparent reason other than greed on their part. I will advise all who will listen to avoid dealings with this company. J. Coe

        0 Votes
      • An
        ANITA MATHIS Oct 04, 2009

        DITO TO EVERYTHING THAT IS SAID ABOUT AMERICAN FINCO. ALSO THE PRODUCT
        RAIN SOFT WATER SYSTEM. THEY PUT THE PRODUCT IN MY HOME AND DID NOT EVEN TURN IT ON.( IT TOOK ME A YEAR TO FIND OUT)
        I WAS GOING THROUGH CANCER AND TRUSTED THEM. BOY, WAS I DUMB. I COULD SAY MORE BUT WHATS THE POINT. I HAVE BEEN HAD.
        A . MATHIS, FLA

        0 Votes
      • Po
        Powerless23 Jan 30, 2010

        I agree with these complaints. I also have seen anther problem in Delaware the Rain Soft people are going out of business. Guess what the contract for the gas is non and void the company pulled out. There is also a problem with the liquid soap part of the contract they have gone out of business. I suggest we start a class action to get some on our money back and file complaints with the attorney General offices and better business about these two companies they seem to be working together.
        powerless

        1 Votes
      • Sh
        S. Hunt Feb 28, 2010

        I, too, agree with all the complaints above and would love to join you all in trying to get some of my money back. (Raised interest rates, other exorbitantly fees, predatory lending, poor water system).

        1 Votes
      • Cc
        C. Corrales Feb 20, 2012

        I too agree.. Bought a water softener system from United Waters in Fresno Ca. I think they scammed us all.. Bought the system in 2008 and pay more than the due amount.. We are now going on 4 yr's paying 120.00 a month, and my account has only went down 1000.00 I dislike the fact that they scammed us.. I believe we all should join in a class action suit to get our money back.!

        C. Corrales

        0 Votes
      • Ds
        DSCorde Jan 27, 2014

        I agree with all of you... My doctor told me the salt in the water from the system was drying out my organs... Yes, I said my bodies organs... I have since stopped drinking and bathing in it and my organs are going back to normal... Another little tidbit, if you're diabetic or pre-diabetic the water from this system can raise your blood glucose level... The system is bad and the company is worse... We have great credit and they've raised our rates as well... We pay on time every month by an allotment from our bank...No way we have ever been late because it comes out of the bank automatically... When we called to ask why... The only answer we could get was they periodically raise their rates, like stores raise their prices... I told them I didn't agree to those rates when I purchased the system and I'm not accepting it...I have credit cards with cheaper interest rates... So, I've hired an attorney...

        0 Votes

      American FincoLate charges

      I too am having the same problems with American "FINKO". The late charges when I sent my payment 10 days before. Non-stop B.S. However, a friend of mine gave me an excellent idea yesterday. Start sending in my payment via certified mail. That way I will know when they received my payment, and will use it as proof if necessary. Fingers crossed that will work!!

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        • Am
          Amanda81 Sep 22, 2009

          I also purchases a water softner her in AZ and they financed me through American Finco. I am having problems with the interest rate. My payments were supposed to be $110.00 a month. However every month my interest was rising to be the same as my monthly minimum. I called and complained and was told that it has nothing to do with my credit that is the way they run their business. And that it would be in my best interest to get financed elsewhere. I got my statement for October and now they have raised my monthly min to $125 and my interest was $115. I never made a late payment as I pay through my bank account which I see that they received my days before my due date. I will be considering another action. I already sent an email to thr President of American Finco. I see what he says.

          0 Votes
        • Di
          Dissatisfied with company! Oct 20, 2009

          American Finco is not an ethical company! I want to know why they are allowed to make huge profits by ripping off the little guy. I learned my lesson to never trust a them. Raising interest rates that already were too high. I never missed a payment and they raised the minimum payment also. I am very unhappy with them! Please beware and help me take action so they don't get away with taking advantage of people. Hopefully I can settle my debt with a lump sum because other wise I never will be able to pay it off. Please beware and help me take action so they don't get away with taking advantage of people.

          0 Votes
        • Ha
          HATE 4 AMERICAN FINO Oct 21, 2009

          AMERICAN FINCO=GREED
          They call it "making a living"
          Please do not fall for the line "they help people with their financing needs"
          Companies that lie, change terms, and raise rates without valid reasons should be regulated and even shut down!
          BAD COMPANY!!! NO CONSEQUENCES FOR THEIR ACTIONS YET!

          0 Votes
        • Am
          americanfincosux Jan 04, 2010

          they already are shutting down these ppl are losers.

          0 Votes
        • Sh
          S. Hunt Feb 28, 2010

          I had similar problems with AmericanFinco. I started sending my payments via FedEx (the 3-day delivery which is cheapest) and I never received another complaint about late payments. They did send me a website where I can now pay my bill online. By the way, American Finco always managed to schedule my date for payment on the weekend, but you can only make payments Monday through Friday. So, if I waited to make my payment on the due date (weekend), I would still incur a late fee because payments are processed only on Monday thru Friday. This company has a lot of unethical ways.

          0 Votes

        The complaint has been investigated and
        resolved to the customer's satisfaction
        Resolved
        American Finco — &Late& Fee and Due date

        I have to say that this company is one of the worst consumer friendly businesses out there. I bought a water...