CB Banks GE Money Bank Complaints #42-61

GE Money Bank review: company added over 1,200.00 interest without warning on a 2,700.00 loan after the 24 month period. ( 1 comment)

Mark Ullock of US

Oct 04, 2010 11:00 pm UTC

Resolved

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

Resolved

The complaint has been investigated and resolved to the customer’s satisfaction.

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convivialdingo

1 comments

convivialdingo of US

Oct 05, 2010 1:20 am UTC

Verified customer

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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3135 Easton Turnpike, Fairfield, Connecticut, 06828, United States

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