GE Money BankFinance charges before due date

J
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Verified customer

I also had one payment left on my $3000.00 loan for an elliptical Runner. My promotional period was set to expire on 2/15/07. Today in the mail I received a new bill with the full interest over the life of the loan now due in Full. A full month ahead of the specified period. I just got off the phone having spoken to 3 different outsourced call centers and various levels of "management" who all said that even though I'm trying to pay my Balance (minus the suddenly due interest) that they can't ..and won't waive the charges. I work at a bank and we have the ability to waive ANY fee's we charge as a financial institution. I know GE Money has the same capabilities.

Responses

  • Jo
    Joseph C. Zulty Feb 04, 2007
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    Jeff, your plight is mine (see GE Money Bank cheats your average Joe). Currently the State Attorney's Office of Maryland has forwarded my case against GE Money Bank to the Office of Thrift Supervision in New Jersey. I paid off my bill in total within the promotional time period, then caved in and paid over $3,600 in finance charges after 20 or so relentless phone calls to an inhumane and uncaring GEMB Consumer Department. GEMB is a global sublending institution that surreptitiously exploits average hard working people. Somehow their practices need to change. Godspeed.

    0 Votes
  • Ms
    mstudio Apr 11, 2007

    I am thinking of filing suit here in California too, same experiences, being charged the interest prior to the expiration of the promotion then being transferred around Indian call centers with no resolution finally spoke with US representative who was SO rude absolutely awful, she told me that there was no manager no supervisor and no way to reverse the unlawful late and finance charges. I am a new pro photographer in Los Angeles with a $20,000 loan and I am appalled at the service of this American giant GE. The pros at SAMYS have been getting a lot of complaints all the same, lets file a class action suit. Anyone out there a lawyer?

    0 Votes
  • Mi
    Mike Smith Apr 28, 2007
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    Do you have documentation for everything?

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  • He
    Heather Hale Sep 18, 2007
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    a verified customer
    Verified customer

    Please re-enter all complaints against GE Money Bank at http://www.consumeraffairs.com/finance/ge_money_bank.html

    They have class action lawyers that review them all.

    0 Votes
  • Je
    Jenna Melfi Dec 14, 2007
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    a verified customer
    Verified customer

    I took out a loan with GEMB for my dental work in September 06. I moved to California from Utah, I filed a change of address with them and the post office. For four months I did not receive and bills. after numerous call to GEMB I finally got my bill going to the right place. As I started to receive my bill I noticed that over that last four months I had accrued $500.00 in Finance charges... The story they gave me was I had to pay the minimum balance of $150.00 + 98.00 for the finance charge in order to get myself back up on top of my bill. The problem is that they had already filed with the credit burro. My mother had agreed to co-sign on this with me because I could not do it alone. I finally set up a payment plan with them, It was one payment $150.00 + six payments of like $48.00 just to bring me current so I would not be getting the finance charges. I have received a letter every month saying they were taking the payment out of my account. Not once has the payment been taken out on top of that I now have $1700.00 in just finance charges on top of the $3600.00 I had the loan for. Who ever is with me and wants to take a class action suit. Let me know I have an amazing group of lawyers... Lets do it. NO ###!!!

    0 Votes
  • Ju
    Justin Nov 28, 2008
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    a verified customer
    Verified customer

    I am also a victim of this company. I took out a loan of $600, and 3 years later, having missed exactly ONE payment, still have a balance of $578. They add on late fees & "online/over the phone" fees, as well as hiked my interest to what I believe to be an illegal amount.

    I also signed up for their "Account Security" program, which was supposed to cover me in case of loss of wages. After activating my claim with "Account Security, " they refused my claim, and both GE & Account Security give me the run-around, while I'm stuck with my balance, as well as being robbed of the money I have sent them.

    I will gladly join the lawsuit. I am now attempting to contact the Thrift Supervision Dept in NJ. I have everything documented, by the way.

    0 Votes
  • Ge
    GE Victim Feb 26, 2009

    They skipped sending me a statement just before the end of the promo period, and then hit me with $7, 800 in "deferred interest"!!! I am an attorney, looking into filing class action in AZ...Who else out there has been dfrauded by GE in AZ?

    0 Votes
  • Ju
    Julie K Mar 31, 2009

    Michigan here. Today was my FIRST phone call to the outsource center. Here we go...

    0 Votes
  • Cr
    Crane.director Apr 20, 2009

    This is a righteous complaint. I am looking for a class action to join against GE Money Bank. Is there one that anyone knows about and how do I join. If you Google GE Money its nothing but thousands of people complaining for the past 2 or 3 years. It's time to go after these so and sos isn't it?????!!!

    If anyone wants to contact me:

    [email protected]

    0 Votes
  • Da
    Danette Boni May 29, 2009

    The same thing happened to me. Paid my bill and they claimed they did not recieve it. I am outraged! They are charging us $1300.00 in intrest. What are we going to do about this. I am willing to go in on a class action suit. Let do it!!

    0 Votes
  • Ju
    JustSimplyT Jul 05, 2009

    In the same boat here, floating due dates, short windows for payment to be marked as accepted, have paid over 700 on a 1000 dental loan and have a balance well over the original 1000.

    Has anyone found a class action filed yet?

    A friend (that told me about care credit BEFORE either of us knew how horrible it was) is in the same dilemna with her vet bill.

    0 Votes
  • Ma
    Marion Wanamaker Aug 23, 2009

    I am writing to find out if there are any federal class action suits or State of NJ class action suits involving the bad credit practice exuded by Care Credit/GE Money. I look forward to hearing from anyone that has further information regarding the same.

    0 Votes
  • Cr
    crtothak Sep 18, 2009

    I've had similar problems with a 1-year no-interest credit card offer on a purchase. Over $600 of finance charges on an original $2400 purchase. I've filed complaints with the Better Business Bureau, but no luck. GEMB has predatory, unethical practices and I would definitely sign on for a class action suit.

    0 Votes
  • Ca
    Carolyn haun Sep 24, 2009

    Ge Money is truly the most insidious of credit companies I have yet to deal with. I took the loan when my dentist pushed it toward me without reading the fine print. I was, in fact, in arrears for paying off the loan within the "free interest" grace period. It was a tough blow to be assessed such huge penalties, but I paid. When I finally realized they were not crediting me for the amounts I wished to pay on line and were assessing more charges I took a small personal loan from my credit union to be done with these vultures. Not to be. I cannot no matter how hard I try rid myself of these thieves. I sent my final payment registered mail even though it was not actually owed to them. GE took the money, on-line from a bank account that was closed and are now charging me not only for the money I did not owe but already paid, but they want it again and they are charging me for bouncing a check and all manner of other charges.
    I have documented as much as I possibly could as I began to realize the horrific nature of this institution. I am fighting back with letters to my Attorney General in Michigan, my state Senator and Representative and calling or writing each and every better business organizaion that will listen. These people need and deserve a well publicized class action lawsuit. Who will represent us? How do we go public?

    0 Votes
  • Aj
    AJIMAMA Mar 27, 2010

    GEMB AND PAYPAL ARE A BIG FAT LYING PAIR OF JOKES

    0 Votes
  • Ro
    Robbinhood Jul 29, 2010

    Yes agreed Ge Money demonstates unethical and ruthless business practice

    The evidence speaks for itself

    Check out this site for detailed info on GE Money's track record

    ASIC acts on GE Money’s insurance and debt collection practices
    http://www.australian-real-estate.net.au/investing/2008/05/30/asic-acts-on-ge-moneys-insurance-and-debt-collection-practices/

    GE Money’s consumer complaints mount
    http://www.australian-real-estate.net.au/investing/2008/07/01/consumer-complaints-about-ge-money-mount/

    ASIC helps Australian consumers understand new credit laws
    http://www.australian-real-estate.net.au/investing/2010/07/26/asic-helps-australian-consumers-understand-new-credit-laws/

    The more consumers that can access reliable information in a timely manner to better

    Consumers should be able to research finance companies first before making a decision to apply for a finance product.

    If consumers can see that GE Money products have distinct disadvantages, that the customer service is poor, the interest rates higher, and the debt collection process is very aggressive and damaging for the consumer it is more likely that consumers will not take up GE Money products.

    Loss of business for GE Money and lower profits will really make an impact against GE Money

    Hit GE Money financially and make a difference

    Spread the word about GE Money complaints

    GE Money’s consumer complaints mount
    http://www.australian-real-estate.net.au/investing/2008/07/01/consumer-complaints-about-ge-money-mount/

    0 Votes
  • Ir
    irate in USA Dec 28, 2010
    This comment was posted by
    a verified customer
    Verified customer

    Why is there no recourse for people getting ripped off by this company, or whatever it is? I just went round and round with a person from India. I think I got the late fee removed, but after reading these comments, who knows? It happened because of their idiotic web site, which has you turning the auto pay off and on. This seems to me to be a total ripoff, for unsuspecting customers. You make an extra payment, which somehow turns off the auto payment? Come on! I do a lot of online payments, none of the other sites are set up to screw you. Who has control over these practices?

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