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Washington Mutual (WaMu) / Unethical Business Practices

PO Box 660509Dallas, TX, United States Review updated:
5
Contact information:
Phone: 800-225-5497

I paid off my WAMU credit card in 8/08. Three weeks later, I recv'd a bill in the mail for $28 - citing finance charges. I finally found the executive services phone no. and called and got Ana on the phone. She was very nice, pleasant, sympathetic to what the company had done to me. I faxed her the information I referred to in our talk. I told her several times that a company rep. would only be able to call me after my wk hrs and since her office was 2 hours behind me, that would not be a problem. She had a rep call me at work, where I was not able to take the call. Today, I spent over a half hr. on the phone with these people - refusing to let me speak to a representative. Telling me no one was available and would not be available. Some history - 7 mos prior to this call, I attempted numerous times to contact WAMU as I was having some financial difficulty. Their representatives in the Phillipines refused my requests repeatedly to speak to someone in the United States. One of their Phillipino reps. actually told me to F--K off and then proceeded to hang up on me. Today, I was told by a woman that the same day I paid off this account in full, was the same day the stacked the $28 in finance charges on which would of course be without the consumer knowing this and all of a sudden, by the time the next billing cycle comes around, that $28 has not been paid because you did not know about it and then more finance charges are heaped on top of that because you're all of a sudden "late" in paying your payment. Its a no win situation with WAMU. I can now understand why they are having the legal troubles they have currently. BEWARE OF THIS COMPANY. UNETHICAL BUSINESS PRACTICES.
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Le
  23rd of Jul, 2007
Agree Disagree 0 Votes

Washington Mutual (WaMu) - Deceptive business practices!
United States

My wife and I have had literally stellar credit our entire lives. We have a long and reliable credit history. We purchased a home and got a 15 year FIXED mortgage. We have religiously paid our mortgage on-time since.

Since the initial loan, our mortgage was purchased by Washington Mutual (WAMU).

We received a telephone call from WAMU’s collection department stating our mortgage was not paid for May 07... what... yes it was???

Through some investigation we have learned that they determined our escrow was short and they raised our mortgage... get this... TWO YEARS AGO. We were never informed!

Evidently, they have been mailing notices to an incorrect address. NOT the “current” address for us listed on our loan application, NOT the property address where the loan was taken on (application flagged the property will be “PRIMARY RESIDENCE”). Evidently, they have been mailing notices to some other (incorrect) address they found on a credit report!

They claim that we have been late on our mortgage for the past two years (because it was raised, and we have been paying the same, old amount). They have kept adding the late fees until they decided it was time to use our funds paid for May mortgage to late fees, leaving no money to pay the May mortgage, triggering a call to us.

We figured we could simply clear it up... right? NOPE! Their “dispute department” declined all claims by us. They insist that we owe thousands in late fees, and the negative reports to the credit bureau remain unchanged!!!

What to do? They are to the point where they don’t return our calls anymore, we are in the process of trying to sell/buy a home and have this mess on our hands!

The originally agreed mortgage has been paid on-time every month for the past 4 years without exception. How were we supposed to know they raised the mortgage?? They admittedly didn’t send any information to either address listed on our loan application. They admittedly never called us prior to this.

Now, we are looking at expensive legal fees to clear this up!

HELP!!!
Mi
  7th of Oct, 2008
Agree Disagree 0 Votes
N/A
Cu
  14th of Oct, 2008
Agree Disagree 0 Votes
just a reminder to read your Account Agreement before using your credit card, once you sign to the terms and condition you agreed to it, no lame excuses why you are late or can't pay, that's not part of your account agreement that there will be an exception of course once the account default it will go to a default rate which of course has a higher Annual Percentage Rate.
Credit Card is very useful but you need to pay all your balance before using it again.. No Grace Period if you have a previous balance, Once you have a Balance you will always accrue Finance Charges and remember it can accrue daily based on your current balance and your APR rate but it will only show up once your statement prints...If you have any request you can always ask for it not torturing the service rep to do it we need to say NO at first that's our job but it doesn't mean that we don't understand your concern.. and reminder we can always make any adjustment if we can like those finance charges...but the lower APR rate we cant cause that is system generated if there's an offer we proactively offer to our customer but if there's NONE how can you offer the thing that doesn't exist at all.. Might as well write a letter to the Correspondence that would work...and lastly those pre-approve offer in the mail you are selected but that doesn't mean that once you applied for it you will get approve that still needs to be reviewed...
Pa
  2nd of Nov, 2008
Agree Disagree 0 Votes
I just transferred a balance to a Wamu credit card. As long as I wasn't late on a payment I would receive 0% finance charge until 2010. Well guess what my first payment was due on the 21st of October and I sent my payment on the 12th foolishly thinkly that would be plenty of time for my payment to get there. When I opened my statement I saw there was a late charge. apparently my payment was late. I guess WaMu has a slower mail service than the rest of the world. I just received my statement for my payment that is not due until the 21st of November but I already went on-line and made my payment so that they have no excuses.

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