Complaint Review: First South Financial Credit Union

First South Financial Credit Union operates in an unethical manner by participating in deceptive and dishonest practices in violation of the law. A representative of the company lied to the Federal Consumer Protection Board by knowingly, willfully, and maliciously stating that a statutory expired debt had a different date that would make the "alleged" debt collectible.  Specifically, in good faith, I took it upon myself to seek payment arrangements on balance owed an an account which was closed when I was incapacitated due to a serious illness. The crooked employee advised that they could show it as a loan to help rebuild my credit. When I received what I thought was a repayment agreement, was actually a promissory not adding interest to the balance to be paid off. I decided I would pay the interest because it would help to rebuild my credit. When I attempted to make the initial payment, which was timely, the crefit union refused...stating the initial payment would go towards an old balance from over 10 years ago which I had no knowledge about. I then sought to escalate the matter prior to making a payment. The matter was supposedly corrected near the end of March and my first payment in April was suppose to start the repayment. I later found out when attempting to make the second payment, late fees was added, I was being reported as two months behind and a mere $3 of my $130 payment was credited to repayment. I escalated this to the head of Collections and Executive management only to find that they were working in collusion, seeking to recover the expired debt, leave the original debt and impact my credit in a worst way. This was deliberate and is credited to the corrupt individuals the company implore. I am filing a Federal Suit. Be on the lookout for the news report and do not do business with this credit union. If you have an account, close it! Memphis Employee Credit Union, Shelby County Credit Union, Hope Credit Union, and Orion are all better choices.