Loan Shark Practices- Like most of the others on here I was approved for a $5,500 loan interest free for 12 months. I paid $5,100 off and had $400 left my next bill showed a $2,400 so I went from owing $400 to $2,800 just like that.
They told me I did not live up to the terms of the contract and even if I had paid $5,499 at the end of 12 months I owe interest on all that entire balance if the account is not paid in full. CareCredit if you can, they are only interest in taking advantage of you. I am amazed that they are allowed to operate as they do in this country without any consequence.
I received a ton of calls from a collection agency who demanded I pay the entire sum which is now about $4,000.
The amount keeps increasing. I told them I will only pay what I truly owe and not a penny more. They continued to call so I evoked the Fair Dept Collection Act on them which stopped the calls.
I received a letter from an attorney's office yesterday threatening to sue me. Talk about a nightmare.
Product or Service Mentioned: Carecredit Account.
Monetary Loss: $2400.