Citifinancial Retail Services Charged interest on entire amount beause last payment was received 2 days late Tempe, Arizona
In August, 2008, I purchased a temperpedic bed from Brookstone, Santa Barbara. At the time of purchase I put $500 on my credit card and financed the remaining balance of $2268.10. I mailed the last payment on August 25, 2009, which turns out to have been the due date. Yesterday I was floored when I received a bill in the amount of $373.94, which turns out to be the interest and other charges on the total amount of the loan because they received my check two days late.
Today I spoke with 4 different individuals, all of whom told me the party line of there is nothing we can do. I had to fax a letter explaining the circumstances to the Resolution Department - they will not take phone calls.
In the letter I explained that I had fractured my shoulder in 4 places on June 28, was in a sling for 8 weeks and in awful pain. In fact, I am still taking pain pills and undergoing physical therapy. After several more treatments my insurance will not cover physical therapy, so I will have to pay out of pocket. Further, I am on a fixed income and because I lost $600 of income since April, I clearly do not have the ability to pay almost $400.
1 Updates & Rebuttals
Cory
San Antonio,Texas,
U.S.A.
What Does Any Of This Have To Do With You Making A Late Payment?
#2Consumer Comment
Wed, October 21, 2009
Under your contract, IF you fail to make the payments ON TIME, they hit you with all the interest.You fractured your shoulder in June yet you made June and the July payment on time. When a person is on a "fixed" income, they normally don't work, they collect some type of "fixed" income so it wouldn't matter if they were injured or not. That's why it's called a "fixed" income. You put the balance of $2,268.10 on a 12 month no interest program so you were paying $189 per month. If you owe them $373.94 in interest, you'll just have to pay $186 for another 2 months. You had the ability to BUY a $3,000 bed. Who spends almost $3,000 on an overpriced bed anyway? You're just complaining about the $373 in interest and throwing the rest in as chaff.