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Ttbsl
Registered User
Username: Ttbsl

Post Number: 1
Registered: 02-2004
Posted on Tuesday, February 10, 2004 - 08:23 pm:   Edit Post Delete Post Print Post    Move Post (Moderator/Admin Only)

This is a letter I sent to the CEOs at Best Buy and the attorneys for Household bank.

Is there any legal action I can take?

I am contacting you because of the problems my family has had with Household Bank. We purchased a digital camera and a washer at different times. We financed them w/ the 6 mos same as cash. I am in the IT field which has been hit w/ downsizing. I was laid off for a few months from the end of Feb to July.

I sent the March 03 payment too close the the due date and it was a day late. I sent $72 on a $449.82 balance. We were charged $30 late fee.

I called to ask why we were charged and I was told because we can. I am not even making that up. I was astounded a company would have that attitude. I asked them why they would treat people like that and the reply I received was "we don't have to give a grace period.

On 4/4/03 I sent a payment of $100.

5/2/03 $97.93

At the end of May when money was even tighter, I sent $98 on a $179 balance. I was 3 days late w/ that and they charged another $30.

I called and tried to talk w/ them but they said they were perfectly w/in their rights.
Our payoff date was the end of June. It was paid off by that date.

The only thing left is late fees and whatever other charges they have put on since.

I understand this is a separate entity from Best Buy, but I thought you should know how your finance company is running people off.
After the last episode, I did a google search to send an email like this. I searched for 'Best Buy CEO". The first site was a site for people to sign up for a class action suit against Household Bank. Apparently this goes on quite a bit.

Now, because of HB putting this on our credit report, our credit card has raised our interest rate from 10% to 23.99%.
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Christine
Board Administrator
Username: Christine

Post Number: 1846
Registered: 09-2002
Posted on Wednesday, February 11, 2004 - 07:04 pm:   Edit Post Delete Post Print Post    Move Post (Moderator/Admin Only)

Well, it sounds like everything they did was legal. Unless they held payments to get late fees.

I have no idea whether they violated the financing agreement, have you read it and compared it to the fees?

Here's something that's totally beyond my understanding:

You're computer literate, and you didn't make online payments. Why?

If your first payment hadn't been late, if you had made it online, none of this would have happened.

And, since this is the only derog on your credit, I can only recommend that you go fishing for violations. Maybe they'll assign it for collections, that would be your best chance.

But, when a collector reports, it'll really destroys your credit.

All this just because your payments were a few days late, how frustrating.
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Christine
Board Administrator
Username: Christine

Post Number: 1847
Registered: 09-2002
Posted on Wednesday, February 11, 2004 - 07:05 pm:   Edit Post Delete Post Print Post    Move Post (Moderator/Admin Only)

I also added some spaces and highligted in your posting.

This doesn't make sense:

"5/2/03 $97.93

At the end of May when money was even tighter, I sent $98 on a $179 balance. I was 3 days late w/ that and they charged another $30."

How could it have been late with the 5/2/03 payment?
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Ttbsl
Registered User
Username: Ttbsl

Post Number: 2
Registered: 02-2004
Posted on Wednesday, February 11, 2004 - 07:31 pm:   Edit Post Delete Post Print Post    Move Post (Moderator/Admin Only)

The payment was received on 5/2. It was due on 4/29. I mis-wrote the part about it being the end of May. It was actually the end of Apr payment that was 3 days late. The March payment was 1 day late.

As far as paying online, we use quicked so we can track our spending. It is handy at taxtime.

I have read the information I can find on what they can do. They seem to be legally ok, morally they suck wind. I was looking for more of hints of what to look for.
I know the applied my first payment(after the first late payment was charged) to the late charge instead of putting it toward what was charged to the card. I couldn't find any saying they had to apply my payments in order of what I charged. So HRS thinks I owe them $58 on the actual balance. So, since the did it that way, the are adding on late charges and interest.
Any of that make sense?
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Ttbsl
Registered User
Username: Ttbsl

Post Number: 3
Registered: 02-2004
Posted on Wednesday, February 11, 2004 - 07:48 pm:   Edit Post Delete Post Print Post    Move Post (Moderator/Admin Only)

I forgot to add, I received a reply from Best Buy. They are going to contact HRS and see if this can't be corrected.
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Christine
Board Administrator
Username: Christine

Post Number: 1848
Registered: 09-2002
Posted on Thursday, February 12, 2004 - 05:46 am:   Edit Post Delete Post Print Post    Move Post (Moderator/Admin Only)

Well, maybe they will do something.

"I know the applied my first payment(after the first late payment was charged) to the late charge instead of putting it toward what was charged to the card."

I don't understand that. Fees are charges.

FYI - I don't do magic. If what they do is legal, it's legal. Then all you can do is let everybody know how bad they suck.

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