So I called to make a payment over the phone. I let the young lady know I was paying my bill and that I would like my balance.
So after I have paid the bill, she tells me my balance was $1800. How? I've been paying on the merchandise for 5 months. She couldn't explain so she sent a message for someone to call me.
So I get the phone call and asked how I still owed so much. I was told that only $12 of my $210 payment was going towards my principle and that if I continued to make that payment, I would actually end up paying $6000 for the merchandise. When I discussed this program upon purchasing I was not told the leasing fees would be the majority of the payment nor was it written in my contract. Fortunately, I kept all my paperwork.
I have spoken with a lawyer and this will be reviewed. I understand that many of us using this option may have credit issues but a program that promotes that they help get you the things you need without the worry of high payments is not really doing the job when barely 5% of your payment is going towards the principle. How is this a credit building program?
Your program needs to be revamped and the true and entire gist of the program needs to be exposed. This program is highway robbery.
Product or Service Mentioned: Acceptance Now Leasing.
Reason of review: Problems with payment.