National Recovery Network LLC really stood out among the rest when I did an online search to find a REPO company. I spoke to a salesperson named Chris Bratton, and was asked to complete their online contract, and at that time he quoted me 5% of the value of the property recovered, or $800. He never mentioned that there might be additional charges. He also told me that it usually takes 48 to 72 hours. I completed the contract on Thursday, 6/23/11 and felt very secure with what I had done, and was actually relieved that I might be able to recover money owed to me. At that point I had no reason to believe anything could go wrong.
When I had not heard anything from them by Wednesday, June 29th I called and spoke to the agent/investigator who was handling my case. He said he was working on a couple of leads. I actually gave them enough information to make it easy to find the property. I received a call the next day from Chris Kish to let me know that they recovered the property. She then told me that I should wait to hear from their billing department. I received an invoice via email on Friday, 7/1/11 in the amount of $2538,50. Sound familiar?
Now they expect me to wire transfer $2538.50 to them by tomorrow, 7/7/11 or they will start charging $35/day for storage. I had originally agreed to have them sell the property and they would apply the invoice to the proceeds from the sale of the property. After reading the agreement that was forwarded to me today, I would more than likely end up paying a lot more in addition to the original invoice according to their agreement. See below:
3. If the sale of the unit returns monies greater to the invoice amount, proceeds, after repair, auction and/or storage and sales fees, will be applied to the invoice in full and all remaining monies sent to the Client.
4. If the sale of the unit returns monies less than the invoice amount, proceeds, after repair, auction and/or storage and sales fees, will be applied to the invoice and Client will be billed for the remaining balance. (copied and pasted from agreement)
I don't feel comfortable sending them that much money not knowing what I will end up with. After what they have done so far, they are definitely not to be trusted. I offered to go ahead and do it to avoid paying additional storage fees, but at a reduced invoice amount of $1000, which I think is more than fair and reasonable. I was told that I need to pay the full amount of $2538.50 in order for them to release MY property to me. And will probably end up paying the storage yard more money when I recover my property.
One thing I have learned from this is that I will never again do business with any out of town companies, especially on the internet.
Does anyone have any suggestions for me? I would really like to get this resolved in a fair and reasonable manner as soon as possible.