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Empire Carpets Today / interst on full loan amt

P O BOX 960061Orlando, FL, United States Review updated:
3.35
Contact information:

Contracted Empire Today 588-2300 to replace a kitchen floor and was approved through there financing for $1607.00, with a 0 percent interest for 12 months.

I never was late with a payment and was never charged any interests until the 12 months were up in JAN 2008. I now owe a balance of only $400.00 I was never told that I would be charged an astronomical $$ amount of interest on the whole loan which was $1607.00.

The interest was only to be on the balance due, and I was never verbally told the true circumstances of this agreement. If I were informed correctly, I would have paid it off much sooner!

I am very disappointed to find that Empire Carpets would deal with such a financing company that would do this to there loyal customers.

So, my balance of $400.00 is now $846.00 which is an interst charge of $346.00 based on the original loan amount . I will dispute this with the company and request for immediate assistance in this matter.

Disgusted!
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Bu
  29th of Jan, 2008
Agree Disagree 0 Votes
Hey man,

I hate to inform you, but this is not a a scam. This is something that is clearly disclosed in the documentation you signed or otherwise agreed to.

Yes, The salesman who's paid only comission for every sale didn't say, Oh and BTW, while I have you interested and ready to pay for this right out let me warn you that after 12 months, you will have to pay the entire loans' balance of interest if it's not paid in 12 months". That's not something he's paid to do, he's there to sell you a rug and get the hell out of there. Its your job as the consumer to make sure you read everything BEFORE you sign. Only if something is not disclosed on paper, you are not liable for such charges. If you didn't read the fine print, well sucks to be you buddy. Be happy you only got charged 30% interest, I've seen them as high as 50% or more.

I've worked for a bank for years, and this type of business has been out there for quite some time. "No Payments, No Interest for 12 Months" always means, 12 months, No interest ONLY IF YOU PAY IT OFF". Yes, it's not clearly disclosed in the title of the loan application, but with anything dealing with YOUR money, you MUST read every bit of fine print before you sign.

Mind you, I fuggin hate empire carpets, their salemen are complete tards, but this is not their fault. This is your negligence.
Re
  4th of Feb, 2008
Agree Disagree 0 Votes
Thank you for brining your concerns to the attention of Empire. We are dedicated to providing world-class customer service to every customer. Unfortunately, we are unable to reference your account with the name provided on this website. We would like to work with you to resolve your concerns. Please contact us at CustomerSupport@empiretoday.com for further assistance.
Ch
  20th of Feb, 2009
Agree Disagree 0 Votes
I am presently going thru the same situation. I don't argue the fee( interest come due@years end) BUT, I feel the amount of credit extended ($6000 as opposed to $7500) to me should have been enough to cover the finance charge if the bill was to come full circle after one year. Now GE wants to charge me $39 a mo. until The balance is paid down under $6000. That could take me on a monthly basis app. one whole year of regular payments, plus overlimit fees. (Extra $480) No exceptions, no waving of fee, no credit extension; not to mention having my credit report reflecting possible late fees, & constant overlimit notations.
Ho
  18th of May, 2009
Agree Disagree 0 Votes
I am presently going thru the same thing. The interest hit my account in Jan. of this year, $2500.00 and now I am making monthly payments and not getting anywhere with the balance. Even called GE Money and they were not helpful at all. I will never ever suggest anyone to use Empire Carpets Today or Ge money.

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333 Northwest Avenue
Melrose Park
IL
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