HC Processing Company They are charging us daily interest Springdale Arizona
I co-signed on a loan through HC Processing for my sister so she could go to school. the loan was for $2,500. We have made a few late payments due to their screwed up billing cycle, but didnt really think much of it. Until i called on the balance of our loan and find out it is almost $1,000 more than what the loan was originally for. They said that when there are late payments the loan gains interest daily reguardless if you make the other payments on time.
When you call them they dont ever give you a spacific date to pay on. They just say they send it out the first of the month, and its due 20 days after that. Who does this? So now as a person that is trying to help my sister out, now i am in debt because this loan is gaining interest daily. I dont have 3,000 dollars laying around to pay this off.
I want to know what to do to stop these people from ripping off innocent people like me. What should we as a group do to get HC Processing brought to Justice? Help
Rferris85
Fort Collins, Colorado
U.S.A.
1 Updates & Rebuttals
Nikki
Coconut Creek,Florida,
U.S.A.
Simple Interest Loans
#2Consumer Suggestion
Tue, April 22, 2008
Do an internet search for simple interest loans and see how they work. Late payments (even by 1 day) can really get you behind.