Option One Mortgage RIPOFF I was charged LATE FEES when my payment was sent ELECTRONICALLY IRVINE California
OOMC's policy is to not charge late charges as long as your payment is received by the 16th of the month even though it is actually due on the 1st and considered late after the 10th. I was short on funds and rarely do I ever send late payment for anything. My checking account at Etrade Bank sent an electronic payment on the 13th and OOMC kept claiming they hadn't received it erego charging me around &70 in late fees. Excuse me if I am wrong but electronic payments zip the money right to them, right? I am quite upset with them over this yet I don't know what to do. I was in steady contact with customer service and it was of no good to me.
Susan
Terryville, Connecticut
U.S.A.
1 Updates & Rebuttals
Jason
Simpsonville,South Carolina,
U.S.A.
E-Payments are NOT immediate
#2Consumer Suggestion
Sun, March 27, 2005
Susan, you are incorrect about E-payments being instant, at least when they come from a bank. If you notice on any banks online bill pay program, there is a note that to allow between 2 to 5 days for payment to be received.
The difference would be paying with a debit card or check card (One with the Visa or MC logo). Those funds are processed by the credit card companies and ARE instant.
If you sent the funds on the 13th, even prior to bank closing or 2pm or whatever, then it is still quite possible that the funds were not received by the 16th.
Lick your wounds on this one and only use online BillPay features when you have at least 5 days before the due date.