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GE Money Bank / Being sued for outrageous fees!

1 United States Review updated:

A lot of the same stuff that I see from other people on here has happened to us. It is very good to see that we are not alone, here. They lost a payment right when the zero interest promotion was about to expire. They lost two transfers. They called our house several times a day for months. They have a nasty attorney suing us for the wrong amount that has $1200 in fees on a $1500 original loan. We reported them to the Office of Thrift Supervision, the BBB in several states, the Attorney General of Arkansas, and the Federal Trade Commission. There is some guy in Connecticut who wrote us a letter chock full o lies, named Steve Bailey, that was GE's response to OTS. They stopped sending us statements on purpose and blamed it on the post office. Here's an interesting aside: how did the letter in reference to OTS get to us, if the problem is with the post office? How could it be that seven months of statements could get lost and his sack-o-lies letter gets through? Here's one for the record: they charged a $29 returned check fee for a payment they claim they never got in the first place. We couldn't find anyone who spoke English, either. We have a montage of addresses that includes nine offices in seven different states, where they have shuffled us about. We have proof of all of our allegations against them, and our bank and the automatic clearing house that makes payments for our bank, back us up. The clearinghouse and bank were ripped off, because they made payments to these people several times and the payments were never credited, but they sure did get stolen from the clearinghouse. Our bank was kind enough to take the loss and the blame, not knowing at the time that the company, GE Money Bank is as crooked as the day is long. GE's attorney knows full well that the amount is in dispute but is suing us anyway. We are counter suing, but I really think that we may lose, because of the name GE Money Bank. They are big and we are small. They have laurels and all we have is debt. It seems that they get away with this sort of thing over and over again all over the country and that they are like a giant disease that can't be stopped. If I had known what kind of company it was, I would never have bought the furniture that I bought.

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Comments

  • Ch
      30th of Mar, 2007
    0 Votes

    Same thing is happening to us. We sent the payoff amount for the boat (it was already sold) and they people took the boat home with them. They had it in hand, told us to send a fax as that was the only way they could "accept" the payment. This was done. We had to send it 4 times. they said, ok were accepting the payment. Then, they claim they didn't and sent the check back. Its been a month, we have not gotten the checks back. Corruption. Amazing, how do these guys sleep at night.

  • Mi
      28th of Apr, 2007
    0 Votes

    Always ask for a supervisor when you get someone who doesn't speak English. They are Level 1 Support, and they follow a script.

  • To
      10th of May, 2007
    0 Votes

    GEMB Lending, Inc. has offices in Irvine, CA where we make payments on our motorhome. We have a dispute with them over a late payment, so I tried to find them. I checked with the California Secretary of State and could find no listing for them. When I called customer service I got Sue #7084 in South Dakota. I asked for their legal depat, as I don't believe they are licensed to do business in California. She could not provide one. So I think we will stop making payments on the loan.

  • Je
      25th of May, 2007
    0 Votes

    My account got setup with them 13 months ago, my statement has gotten "lost by the post office" every time. I have never received any statements from them only letters from their attorney don't get lost. When asking for a supervisor they say they don't have one, when asking for a legal address I was told they don't have one. I have my bank send all of my payment thru their bill paying system 15 day before the due date. They always get deducted by GE says they only got some of them. It is a joke. They can sue me for any late fees, I am not paying them.

  • Ch
      30th of May, 2007
    0 Votes

    The motorcycle dealer where I did business got my loan through this outfit. I bought a new '07' Yamaha at just over $14,000.00, although the loan after interest comes to well over $18,000.00! They wanted a $10.00 fee just to pay this loan over the phone, as their paperwork didn't arrive in time for me to pay them the first payment on this new loan through snail-mail.

    I haven't been able to locate the S.D. office either on-line or through any other directory.This dealership did me no favor financing me through this outfit and I expect I'll have the same type of problems as everyone else here has.

  • Pa
      1st of Jul, 2007
    0 Votes

    I would like to add my name to the list of many who have complained out the exorbitant fees GE Money Bank charges. My balance is low and, because I missed one payment, they tacked on a 29.00 late fee, thereby canceling out 2 months worth of payments. I am currently attempting to pay the small balance off in full as we speak but am unable to access their web site.

  • Jo
      23rd of Jul, 2007
    0 Votes

    This is one of the shadiest banks out there. They set you up for failure so that they can take advantage of you. I had very bad experience with these people with $800.00 left on my account I was charged $1200 finance charges when I still had 6 months left on interest free payments. If you are a consumer please avoid doing business with these people. I would also recommend that you stop using all their consumer products.

  • Al
      30th of Jul, 2007
    0 Votes

    I feel for all those who complain about GE Money Bank. I obtained a carecredit account through a dental office and from the first moment I had problems with their customer service. My biggest beef with them is that I kept on reaching some people in India and quite frankly I had to hang-up and try again a few times until I got someone whose accent was not horrible!! I was fortunate that I could write a check to pay them off the tell them to shove it but the truth be said I am shocked that this entity is part of G.E. because it brings a black cloud over such a venerable name. Stay away from GE Money Bank, run!!!

  • Ro
      5th of Aug, 2007
    0 Votes

    I agree that the service at GE Money Bank is terrible and that they don't even operate like a regular bank. I have battled with them for 4 months over a fraudulent credit card charge from a merchant I never even heard of for a product I would never purchase. They have sided with the merchant just because the merchant had the correct information. The bank is suppose to take the side of the customer and I know for a fact that all they had to do was have me sign an affidavit to protect themselves. They refused to do this. I have complained with the BBB and with the State's Attorney Office, but so far no positive results for me. So my only alternative now is to create as much bad publicity about them and Sam's Club that I can. Also, be wary that any fraudulent charges that I have had have come through PayPal. It is too easy to use PayPal and they do not have enough secondary security to protect consumers. The merchant by the way was Devellion.com.

  • Dd
      31st of Aug, 2007
    0 Votes

    I totally agree. In my opinion, GE Money Bank is a complete ripoff. I have had a similar experience.

  • De
      5th of Sep, 2007
    0 Votes

    I financed some solar screens. The original loan was for 6000.00... after two years of paying I have only brought down the balance 600.00!!! I have been paying over 100.00 per month!!! Never ever get a loan with this outfit!!!

  • Th
      22nd of Sep, 2007
    0 Votes

    I have a care credit account since February. I had a zero interest for the first year. They have never sent me a statement, even after calling them and making a payment over the phone. Finally I was one day late on two occasions and my rate went to 27%. I still have not received a statement. These people need to be prosecuted criminally for fraud and put out of businees. Now that I have read that they are PURPOSELY not sending statements that is commercial fraud. I am an attorney and I intend to sue. No legal fees for me but there will be for them!!!

  • Ga
      3rd of Oct, 2007
    0 Votes

    I wish I saw this link ahead of time.

    October 3, 2007

    I was charged $1,548.40 just for interest (22.98%) this month of October 2007. I never miss a single payment nor have ever been late in paying them.

    Other credit cards use to waived fee if I missed payment unintentionally. Or ever if it is our fault of missing a payment they will waive it one time.

    But for GE Money Bank, they are cruel and unforgiving. This penalty is way more than the penalty of my half million mortgage loan of 100.28.

    Care Credit card? They don't really care. That name is FAKE.

    My wife sent a letter today to:

    Jeffrey R. Immelt, CEO
    Corporate Headquarters
    General Electric Company (W2E)
    3135 Easton Turnpike
    Fairfield, CT 06828
    (800) 417-0575
    (203) 373-2652

  • Ja
      8th of Oct, 2007
    0 Votes

    I actualy have an $82.00 credit on my account, however when I tried to use my card, it was denied. When I called the company they transfered me to someone in India, that didn't speak clear english, who asked me a series on question, and then told me I failed the verification test and to try back in 30 days. This is totally crazy. Thanks for the info on the corp. headquarters. Let's see if they will do anything.

  • Da
      9th of Oct, 2007
    0 Votes

    I don't have to go into details about this company as every story is just about the same. The only difference is the amount owed. Be aware that Murvyn's, Sears, Dillard's and I suspect every consumer credit card issued through any retail giant is using G.E. Money bank, which I have discovered is an offshore credit scam. I am seeking legal recourse as I speak. I had a construction company assign my agreement to them and I have never signed a credit agreement with them. They have stolen more than $3000.00 in payments in 8 months and my balance is over $500.00 more than the original amount borrowed. We need a class action here for sure.

  • Di
      16th of Oct, 2007
    0 Votes

    There it the bottom of the barrel. When they take advantage of people with there care credit accounts, due date is the 1st get paid the 3rd they tack on $35 late fee for 2 days will not budge they are the worst of the worst so why are they getting away with this!!! And all there fees please someone go after them!!! How can they take advantage of people when they have medical emergency's for them or there pets thats the lowest, this is suppose to be a caring country come on we live in America.

  • Ro
      19th of Oct, 2007
    0 Votes

    I just have to tell ya - I short paid one pmt by 1 dollar mistakingly and after two late fees and a double interest rate, I owe them more than when i started. How do they get away with actually putting $10 bucks out of $100 towards the loan? Just not fair. When I bought my windows from Sears I had no idea this would happen. I hope someone can do something! Scary stuff!

  • El
      19th of Oct, 2007
    0 Votes

    Add Linens N Things to the list of retailers that use GE Money Bank. My strategy? I am going to write Linens N Things since as far as I am concerned --it all started with them: 1) They PUSH the instant charge card upon you to save 20%, the cashier receives a bonus, and they fail to take down correct information in their haste to push you through the line. 2) Since information obtained was in error--you never receive a bill or the charge card --you forget about the purchase. 3) Without due process --BAM you are in collections hell! I say we start bringing the attention of these deceptive practices of the RETAILERS to the consumers attention. I wish you all the best --keep fighting.

  • Di
      6th of Nov, 2007
    0 Votes

    My complaint is basically as all others. I was at my dentist office and told I needed over $2,500.00 worth of dental work or my teeth would fall out. Having no dental insurance, the office lady told me of the wonderful Care Credit program. I could get a $9,000.00 line of credit form Care Credit and the interest rate was only 9 1/2 percent. Sitting there thinking about being "toothless", I promptly signed up. However, the $2,500.00 bill soon became nearly $6,000.00. The dentist "kept finding more problems". I started paying $300.00 a month on my bill and all went well for three months. On the fourth month, the Post Office actually did destroy one of my payments in a postal machine. It was sent back to me in it's tattered condition. Upon receipt of the destroyed check, I called the toll free number to explain what happened and offered to send them a copy of the check and letter from the Postal Service. They said it would not be necessary. Of course it wasn't. By this time, my interest rate was hiked up to 27 percent and has remained that for 23 months. I have paid $300.00 or more for 23 months and my balance is still $5,300.00. During the course of crying, calling and arguing with the representative, I discovered Care Credit was owned by GE Money Bank. I will be paying this off when on Social Security. No legitimate lending institution will loan me the money on an unsecured note. So, I AM STUCK. Additionally, I called my dentist office and complained because I felt they pushed this on me at a vulnerable moment and then tried to use up the entire $9,000.00 line of credit. Needless to say, I no longer use this dentist.

  • Lf
      7th of Nov, 2007
    0 Votes

    I had a CareCredit account, and also purchased furniture on account that was financed through GEMB. Of course, they don't tell you who you're dealing with when you go through a store - just tell you 6 months same as cash. They got two late payments on the Care Credit account - yes, I was a few days late 2 times, BUT I was paying $100+ each month on a $20 minimum balance! They did not care in the least. In fact, they prefer late-payers.

    One very fortunate thing was that they did not raise my interest rate, even though they said I was late - I feel very blessed after reading all these horror stories.

    One thing to be careful of: on the furniture purchase, I did not receive my card in over 2 weeks - when I called to inquire, he said 'we'll just send you another one". I said "Whoa - don't do that. You need to find out about the lost one and cancel that account number." He said there was no need because they would not be able to activate the card. When I asked what information they require for activation, he said: Your name and telephone number/or last four of SSN. I said, you will activate on name and phone number alone? He said yes, or SSN. This guy was a complete idiot, because he acted like a light came on when I finally said "My full name would be on the envelope, would it not? Phone numbers are usually public information." He said, well I understand your concern but it can't be lost in the mail - it would be returned to us if it went to the wrong address. I'm telling you, I was in shock at his stupidity. [His name was Moses, by the way - and he did have an accent :)] So BEWARE - they do not have good card activation security.

    Recently I opened a charge account at Kirkland's, a rush job as mentioned above - only to find later that it's through GEMB! All I can say is, send your payments insured mail with delivery signature required - then you have proof that they received it. I have not had any problems with on-line payments - so that's the way I go. When I make a payment, I print out and keep confirmation number, etc. I also check back later and print out the account info showing the payment and balance for additional support.

    To Diane above who owes thousands - if possible, do a balance transfer to another card or a new card. Even if it's a high interest rate, it can't be much worse than dealing with GE, and most card companies love to do that for you. If all else fails, get a debt management company to deal with them and pay through a third party - it really doesn't hurt your credit in the long run - not nearly as much as keeping a balance with them will.

    I've decided to document the heck out of everything and keep taking that free money from them on the 'same as cash' deals. Yes it's a gamble, but now that I've figured out their system, I like the idea of beating them at their own game. Free credit is a great deal if your willing to do a little extra work to get it. Just pay a month in advance and verify, verify, verify. So far it's worked for me.

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