Please learn from my experience with Ashley Furniture and Rac Acceptence and do not make a purchase with them. I wish that I had sat on pillows for six months instead of dealing with these legal thieves. They use a contract to legally steal from customers and their behavior is disgusting. I have spoken with two managers and even tried to contact the general manager but to no avail, I gave them the legal right to steal from me.
In November, I purchased a new home and decided to go to Ashley Furniture to buy new furniture. I was presented with the option of Rac Acceptence contract, even though I had a bad feeling, I signed it anyway (I'm still kicking myself)
Before I bore you with this tale, I'm going to list the reasons why you should run from this company.
1. You will receive no statement in the mail or email of what you owe
2. I believe my interest is at least 50% but they will not tell you exactly how much. They refuse to give that information.
3. Online payment is preset and you cannot pay more than that preset amount
4. Online does not tell you what your owe or the remaining balance
5. There are a MASS amount of hidden charges that the managers cannot or will not explain.
6. I have made every payment and in December of 2013, I was told I owe 1794.00 and by May I owe 1689.00, which means only 105.00 went to the principal.
7. The staff stands by the "you signed a contract" but cannot explain anything else
8. There are thousands of complaints against this business for their shady practices, even former employees are ashamed to be associated with this business
9. You will have missing money. For example, I called in to make a payment, which I was charged 1.99. I paid 200.00 yet 199.00 was taken from my checking account. When I called back no one explain what happened
10. I call to get my remaining balance and it's like I'm talking to a child, I have to use words like "total," "remaining, " and "final"
11. They will not tell anything about interest or finance charges, like how often does interest accumulate and what is it based upon.
12. You have to call them to get your balance.
It has been six months since I foolishly decided to do business with them. I am going borrow and beg family members to help me pay the final balance. There is no way I'm going to pay them for two years and lose thousands.
PLEASE STAY AWAY FROM THIS COMPANY!!!!!
Monetary Loss: $2000.