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CB Banks GE Money Bank 49 Franklin Street, Boston, MA, 02110, US
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GE Money Bank
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GE Money Bank

49 Franklin Street, Boston, MA, 02110, US
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GE Money Bank - company added over 1,200.00 interest without warning on a 2,700.00 loan after the 24 month period.

This was a loan from a lazik vision doctors practice. The original loan for about 2, 700.00 was supposed to be interest free for which i paid every month on time and more than the minimum due. My last notice recieved on october first stated i owe over 1, 200.00 dollars interest. I only owed 800.00 dollars when this statment arrived and only then did i realize if it was not paid in full after 24 months there will be interest charges. There was no obvious warning or notice this was going to happen or i would have paid this off in full. Any help or legal recourse or advise would be greatly appreciated. Thank You Mark Ullock

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convivialdingo
, IS
Oct 05, 2010 1:20 am EDT
Verified customer This comment was posted by a verified customer. Learn more

Almost all consumer interest-free loans have an interest hike if not paid before the payoff date. This is standard industry practice - bait the customer into an introductory rate and wait for them to late-pay. Sorry to hear about your predicament, but hopefully you are more careful in the future. Better yet, save your money and don't take loans. Avoid credit-cards like the plague they are.

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