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Conseco Finance lied to harassed threatened rip-off business rapid city South Dakota
In July 2000, me and my husband had finally found a double wide that we both fell in love with. We was told at the time that we special ordered our new home that if we put money down, it would lock in an interest rate of 8.5% with Green Tree, and that our payments would be $350.00 a month. Great...
We put money down that same day that we ordered it, and was told that it would be approximately 90 days before our home would be in and ready for set up. 2 1/2 months later, we were called and said that the mobile home was in and ready for set up, and that we need to come and sign the loan papers.
When we arrived to sign papers, the payments showed a monthly amount of 559.00. When we asked why, the man at the dealer said not sure why, he called Conseco, which had took over Green Tree since we started this.
Consecos response was, that us putting a down payment at time of ordering only locked in interest rate of 8.5% for 30 days. And that the last 60 days the interest rate had gone up, and now we were looking at 12.5% interest. But said that if we made a years worth of payment, with no late payments, then we could refinance with a lower interest rate.
We had already spent money buying the land to put it on, putting in electric, water, septic, and driveway, and had already sold our other house. We were kinda stuck... So we thought, ok, we'll swing the 208.00 a month for a year...
HA... After, I made my 12th payment, None had been late.... I called to see about refinancing like they had told me...Well... My mobile home was now considered a used mobile home, and they could not refinance a used mobile with a lower rate... So I have been stuck paying 12.5% interest since December 2000.
We financed 52,500.00.... I called recently to find out what our payoff was, I was just curious.... and it is now 58,000.00... More than what we financed... How can that be... They have been applying all of my payment of 559.00 to interest, and somehow been adding extra charges to my account....
Me and my husband since Dec 2000 has had some financial trouble, ha has had 4 back surgeries, and is unable to do the kind of work that he used to be able to do. So our income has went down drastically... Making it hard for us to keep up with the payments.
Conseco calls me at my job almost daily, to the point that my boss told me, if they continued to call me at work, that i would be terminated. My boss was at my desk one day, and Conseco called me, I told the lady that I would call her back on my lunch. She called me back 6 times, screaming at me not to hang up on her, cussin me, and threatening me... All with my boss right there, my boss was able to hear everything Conseco was saying to me.
This was very embarrasing to me... My boss decided at that time, that Conseco would not quit calling me, so she moved me to a desk with no phone.. They can no longer call me at work...
I just recently found out that Conseco has been calling everybody in the same town that I live in that has the same last name, even though they are not related. Also have been calling my neighbors...
Conseco has been a nightmare.... Beware if you are considering them for a loan... I am waiting for them to threaten me with repo, I have decided that I am NOT making anymore payments to this company... They can come and get their piece of crap off my land...
Kelly
Murphysboro, Illinois
U.S.A.
2 Updates & Rebuttals
Tammy
Lowville,New York,
U.S.A.
Shocked again by how similar the pattern is.
#3Consumer Comment
Wed, February 26, 2003
I too am a customer (indirectly of Conseco Finance) My brother-in-law had my husband co-sign for his first loan for a double wide. The contract was originated from the Deerborn, Michigan office. The interest rate was 15% which shocked me. We never did recieve a copy of the contract until we got an attorney and requested one.
My brother-in-law about six months after taking possession of the home lost his job due to the company he worked for folding. He had been in AutoCad Design and was one of the unlucky first wave layoffs and company closings.
He immediately called Conseco and asked for a reduced payment plan to help him get through it. They never called us during all of this and we didn't find out about it for eight months. They didn't even know he had a cosigner because they couldn't find his paperwork.
During this time, my brother in-law managed to find another job (temporary work) and he lost that one soon after when the calls of harrasment started occuring. Conseco called all over Detroit looking for my brother-in-law. They harrassed his neighbors, his landlord (which had aggravated his landlord causing him to arbitarily raise the lot rental by another $100 a month) and his family. They called his mother. They called his other brother and they called anyone who would know Mike. They harassed his wife, threatened his wife with losing her home, with paycheck taking.
In addition, they lost $1800 a tax return check that had been signed over to Conseco to be applied to his account. My brother-in-law repeatedly tried to get this check traced and according to the IRS it had been cashed and deposited by Conseco. HOwever, they don't remember who cashed it, who's account it had been applied to nor do they care enough to research it. He produced copies of the check and the check number. Still it has not been credited even though it has almost been a year.
Due to the fact that they were so far behind and Mike had virtually stopped dealing with them, we decided to let the trailer go into repo after consulting with an attorney. We could not afford both the lot rental plus the mortgage plus all the extra payments and interests that were required to get Mike caught up. After consulting with our JAG attorney, he advised that if we let the REPO occur (ruined credit for seven years, but so what, it is only for seven years), we can settle up at the end. In addition, Conseco must get reasonable value. Thus, we could contest it if they sold it for pennies on the dollar. We intend to do that if it comes to it.
When dealing with us, they made so many mistakes and errors it was not funny. They issued a notice of Reposession stating that the only way we can get the trailer back is if we paid in full the entire loan amount of $232,350 dollars. This amount being the original loan price plus 30 years accrued interest on it. I was flabbergasted because I knew that this company was either really crooked or they were ignorant of the law and financial principles.
When dealing with these guys, get a lawyer. If you cannot afford one, get one from Legal Aid. They have lawyers that do work pro-bono for worthy causes.
I would also like to say I was outraged at Tammy's comments (I am a different Tammy) regarding people who lose their homes. If she honestly believes that people go into default because they want to lose their homes, she is mistaken. Most people, the majority of people will move heaven and earth if they can to keep their homes. They are families with kids. But no one is immune from bad luck and hard times. May God be merciful to this Tammy in that she doesn't lose everything she has. It is kind of ironic that many of those Conseco employees are also going into default on their loans simply for their pension funds, their stock portfolios with Conseco have gone belly up....Life can be cruel. Let's not be cruel to each other.
John
Demorest,Georgia,
U.S.A.
It will be a long wait!!!
#3Consumer Comment
Sun, January 05, 2003
Conseco seems to have a pattern in the way they treat their customers. They must have a school that trains the people (using that term very loosely) to be rude and crude to us. I decided as you did not to give them one more dime, and have not made a payment since April of last year. Well guess what, the empty mobile home is still sitting there. I want it gone so I call them to find out when they entend on moving it and their answer is the same every time, We're on the way.
I feel like Conseco's Chapter 11 is their on demize because of the way they treat their customers. Nobody wants to loose their home but people will not put up with being treated like a dog and talked to like we are the scum of the earth. I hope that me giving up my home added a tremendus burden to them and added to their downfall! Maybe when the dust settels and Chapter 11 cleans their plow the rude and hateful people we have delt with will on the outside looking in. In the long run those people loose because no one will hire them. HA-HA-HA Hang in there Kelly