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American Finco / Late charges

1 United States Review updated:

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
      22nd of Sep, 2009
    0 Votes

    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.

  • Di
      20th of Oct, 2009
    0 Votes

    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.

  • Ha
      21st of Oct, 2009
    0 Votes

    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!

  • Am
      4th of Jan, 2010
    0 Votes

    they already are shutting down these ppl are losers.

  • Sh
      28th of Feb, 2010
    0 Votes

    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.

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