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GE Money Bank / Late Fees and More Late Fees

1 OK, United States Review updated:
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I just found out how unethical GE Money Bank is. I purchased a DRpower grader though Country Home Products about a year ago, approximately 6 months after the 6 month free trial, I started receiving phone calls from GE Money stating that I was behind in my payments. I stated that this was impossible, because all my monthly payments where made on time every month though my bank online.

To make a long story short.. I was told by GEMB that I was not paying off the purchase quick enough and that the had raised my payment from $30 to $84 a month. As of today, I'm $384 behind in late fees. It will be a cold day in hell before I give GEMB anymore money, I will be contacting my attorney to see what recourse I have to put a stop to this rip-off.

One of the reasons I purchased the DRpower grader, was the advertisement on Country Home Products website **Flexibility to make low monthly payments or pay in full. (see below)

I will never do business with GEMB again!!!

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DR Credit Card
Make No Payments / Pay No Interest for 6 Months
Pay for your order with DR Credit and you won't have to make any payments or pay any interest for 6 months!
Make No Payments for 6 Months (with $300 minimum order)
Pay in full at that time and you’ll avoid all interest charges too!
**Flexibility to make low monthly payments or pay in full
No money down
No annual fee
No prepayment penalties
No application fee
**source http://www.drpower.com/ContentPages/CSTM_DRCredit.aspx

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Comments

  • Jo
      28th of Feb, 2008
    0 Votes

    This organization is involved in sharp practice, which in the case of a promotional loan I took out involved charging an APR of 35% - which includes interest on accumulated late charges.

    It will be a cold day in hell before I use this organization again and my company will be refinancing our GE Capital lease programs with another lender (up for renewal, lttle do they know).

    They may be up $600 from me personally, but they're down an order of magnitude more from the above.

    Further, I will never do business with GE again to the extent that it is possible to buy alternative light bulbs, washing machines etc etc.

    I cannot begin to express the contempt that this organization should be held in.

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