Print the value of index0
  • Report:  #982917

Complaint Review: GE CAPITAL RETAIL BANK

GE CAPITAL RETAIL BANK I have an interest free agreement with GE Capital to pay off $2,100 in furniture purchased from Bel Furniture in San Antonio, Texas in 2010. Made all monthly payment to $998.90 as of 10/12. I now rec Orlando, Florida

  • Reported By:
    David J. Baker — Floresville Texas United States of America
  • Submitted:
    Sun, December 16, 2012
  • Updated:
    Mon, December 17, 2012
  • GE CAPITAL RETAIL BANK
    POB 960061
    Orlando, Florida
    United States of America
  • Phone:
    830-865-5004
  • Category:

I made an intereest free agreement with Bel Furniture of San Antonio, Texas who brought me together in about June 2010 with their finance compnay, GE Captital, to finance $2,100 worth of furniture.  I paid the note monthly, usually  1-1/2 to twice what was owed, over the past 18 months. The amount due 10/31/12 was $998.95.  Today, 12/16/12 I received a 11/3/012 bill from GE Capital in the amount of $1,44070 which included "total interest due in 2012"  of $540.70.  This appears to be a scam.  I was never alerted to the eventuality of this this happening, that is unless the entire $2,100 was paid off by 11/30//12, a huge interest charge of nearly $550.00 would be levied, as it has.  The APR has increased to 29.99%.  This is very dirty buisiness.  Please help if you can.

1 Updates & Rebuttals


Ken

Colorado,
USA

What does your WRITTEN "interest free agreement" say?

#2Consumer Comment

Mon, December 17, 2012

Most of these interest free offers have a payoff date that if exceeded by even one day, ALL accrued interest is charged...from day one.

I can hazard a guess as to whether you read the agreement...you didn't.

I very much doubt that it's a scam or dirty business.  Usually the information on the interest free payoff date is highlighted on the agreement.

Respond to this Report!