Conseco Finance ripoff A VERY ORGANIZED LIFE-DESTROYING OUTFIT Grand Rapids Michigan
My name is steve.I financed my Manufactured home in 1999 from Greentree.I singed a contract for 53,ooo at 8.5% intrest over 30 years. 2 or3 months later conseco bought out greentree and all hell broke loose.
My intrest rate went sky high,No new title with conseco as first secured party,phone calls non-stop,At work,at home,the owner of the park i live in ect.
in 2000 conseco started taking payments out of my checking account with out my permission cousing problems with my bank.sometimes more than one payment was taken.
By nov.2002 i was bankrupt and in dec2002 i had to file my own chapter 13 because of being striped of all that i had worked for my entire life.
My family suffered the worst.They had to watch me as a man and as an american dam near loose everything. You could never know how i feel inside (not much of a man). everything i have read in these reports happened to me over and over untill i had nothing left, now conseco has nothing left HA HA HA.
Stephen
Owosso, Michigan
U.S.A.
5 Updates & Rebuttals
Anon
Miami,Florida,
U.S.A.
Conseco IS a predatory lender
#6Consumer Comment
Sat, February 22, 2003
Hello--
Conseco is one of those companies recently hit with huge fines from HUD for being a predatory lender and engaging in predatory tactics.
You can find more information on the lawsuit by researching under the company name, "predatory lending" "RESPA" "Truth in Lending".
Get to know your rights on the HUD website. www.hud.gov
Predatory lenders do many things that all have a single goal in mind--rack up the profits. Lose the paperwork, change the paperwork, don't report your payment history to the credit bureaus so you could refinance, encouraging you to refinance through them and maybe roll in other debt to be added to the mortgage amount, etc. There are a million ways they have figured out how to rip off consumers maybe only a dollar here and a dollar there, but it adds up. Most of the thievery is on a much bigger dollar scale.
File a complaint with their regulating agencies, possibly HUD (review the particulars of your case to see if you fall under the HUD regulating guidelines)and your state Attorney General's office. I beleive this company has declared bankrupcy due to the huge fines, so be prepared for them to be extra aggressive about extracting every dime they can out of you.
Good luck with it!
Anon
Miami,Florida,
U.S.A.
Conseco IS a predatory lender
#6Consumer Comment
Sat, February 22, 2003
Hello--
Conseco is one of those companies recently hit with huge fines from HUD for being a predatory lender and engaging in predatory tactics.
You can find more information on the lawsuit by researching under the company name, "predatory lending" "RESPA" "Truth in Lending".
Get to know your rights on the HUD website. www.hud.gov
Predatory lenders do many things that all have a single goal in mind--rack up the profits. Lose the paperwork, change the paperwork, don't report your payment history to the credit bureaus so you could refinance, encouraging you to refinance through them and maybe roll in other debt to be added to the mortgage amount, etc. There are a million ways they have figured out how to rip off consumers maybe only a dollar here and a dollar there, but it adds up. Most of the thievery is on a much bigger dollar scale.
File a complaint with their regulating agencies, possibly HUD (review the particulars of your case to see if you fall under the HUD regulating guidelines)and your state Attorney General's office. I beleive this company has declared bankrupcy due to the huge fines, so be prepared for them to be extra aggressive about extracting every dime they can out of you.
Good luck with it!
Anon
Miami,Florida,
U.S.A.
Conseco IS a predatory lender
#6Consumer Comment
Sat, February 22, 2003
Hello--
Conseco is one of those companies recently hit with huge fines from HUD for being a predatory lender and engaging in predatory tactics.
You can find more information on the lawsuit by researching under the company name, "predatory lending" "RESPA" "Truth in Lending".
Get to know your rights on the HUD website. www.hud.gov
Predatory lenders do many things that all have a single goal in mind--rack up the profits. Lose the paperwork, change the paperwork, don't report your payment history to the credit bureaus so you could refinance, encouraging you to refinance through them and maybe roll in other debt to be added to the mortgage amount, etc. There are a million ways they have figured out how to rip off consumers maybe only a dollar here and a dollar there, but it adds up. Most of the thievery is on a much bigger dollar scale.
File a complaint with their regulating agencies, possibly HUD (review the particulars of your case to see if you fall under the HUD regulating guidelines)and your state Attorney General's office. I beleive this company has declared bankrupcy due to the huge fines, so be prepared for them to be extra aggressive about extracting every dime they can out of you.
Good luck with it!
Kaye
St Paul,Minnesota,
U.S.A.
I believe that payments have been taken out of bank accounts without permission
#6UPDATE Employee
Sat, February 22, 2003
I'm responding to this report and the rebuttal by an ex-employee. I am currently a Conseco employee. I believe that payments have been taken out of bank accounts without permission. There was a collector in the office where I work (this person is no longer with the company) that was having payments taken out of people's accounts without their permission. Instead of calling the people to get a payment, this person would enter the bank information as if a payment was authorized by the customer. The company is now taking steps to keep this from happening, but nothing is full proof. Just because there are laws to prohibit certain actions, doesn't mean those actions don't happen.
Ryan
bellevue,Alabama,
U.S.A.
Your Loan
#6UPDATE EX-employee responds
Tue, December 24, 2002
A company can not just start taking payments out of your account without your knowledge. Check banking Reg E. You probably signed an authorization sometime during the loan. Best wishes.