Fingerhut

Star Half star Empty star Empty star Empty star
1.3 out of 5, based on 3 ratings and
14 reviews & complaints.

Most Popular | Newest | More Options >
More filter options:
StarEmpty StarEmpty StarEmpty StarEmpty Star
Deceptive Practices & Consumer Fraud
Posted by on
Rating: 1/51
ST. CLOUD, MINNESOTA -- I purchased a 40" LED SAMSUNG, 3D Television from Fingerhut on November 15, 2013. Immediately the TV began turning on and off by itself. I was within the 30 Day Home Trial Period, so I called Fingerhut to return the television. I was told by an EXTREMELY RUDE phone representative "It is not Fingerhut's problem, you must contact the manufacturer", then hung up on me.

I called and emailed NUMEROUS times. I got absolutely nowhere with the Fingerhut representatives. They refused to let me speak with a supervisor, they hang up on me and they are completely unwilling to assist me. It is a total nightmare dealing with Fingerhut.
December 2013 - I spoke with Kyle ID # MADRILEJO - He stated I was no longer within the 30 Day Home Trial period and there was nothing he could do. Again, he refused to let me speak with a supervisor and claimed he was unable to transfer my call or provide me with additional phone numbers to contact Customer Service.

Again, I emailed several times and I left a negative product rating through the Fingerhut website. I received no response to the numerous emails, but Fingerhut removed my negative rating from their website. Fingerhut is misleading consumers by removing negative ratings and displaying only the positive.

I finally decided to contact Samsung, the manufacturer of the TV. Samsung arranged for a company to come to my home and repair the television. The repairman replaced the defective part twice (the first part blew as soon as it was inserted). The "band-aid" repair held for less than a week. Again, the TV was on and on, on and off.
I called Samsung and their ECR Representative told me "YOUR TV IS OLD & OUTDATED". I would have to go through another repair, but first, I must prove the TV is still under warranty.

At this point, I stopped making payments to Fingerhut. They sold me an OLD, OUTDATED, DEFECTIVE TV.

Well, It didn't take long for the harassing, collection phone calls from Fingerhut to start. They want their money, but still unwilling to take the TV back. They reported my account to the credit agencies as default, which brought my credit score down.
I started to threaten Fingerhut and Samsung with a lawsuit, BBB, Consumer Protection, anything I could rattle off to make someone listen. The TV came with a 1 year warranty that guaranteed against defect....I wanted it replaced.
Finally, 7 months into this ordeal, Samsung has agreed to exchange the TV. This should happen within the next 7 -10 business days.
BACK TO FINGERHUT - I called Fingerhut today (June 30, 2014). I explained that Samsung has agreed to exchange the TV and I would be willing to make my monthly payments, if Fingerhut removed the late fees and updated my credit report. I was told " you pay the late fees $260.00 now and Fingerhut will reimburse you and update your credit report" . REALLY? I asked him to send the information to me in an email, which he refused to do. I asked him to remove the late fees first, which he refused to do. After going several rounds with this blatantly deceptive person, he stated he was not authorized to remove the late fees or update the credit report. Why did he tell me he would????? OMG - SO INTERNATIONALLY DECEPTIVE!!!
Again, I asked for a supervisor and again I was not allowed to speak with one. I asked to be transferred to someone that could assist me and again, he refused.
I called Fingerhut back 6 times today, I have spoken with Sarah, Kerriann, Kim, Stephanie, Samuel and Ellis. All of these representatives were unwilling to assist, unable to help, unwilling to connect me with a supervisor, unable to provide me with additional phone numbers and so on.
This has caused me a great deal of anxiety & stress, it has ruined my credit, which has affected me financially.
I am more than happy to speak with any law firm or media regarding this issue with FINGERHUT.
     
Read 0 RepliesAdd reply
StarEmpty StarEmpty StarEmpty StarEmpty Star
Horrible Customer Service! Fraudulent Payment Methods!
Posted by on
Rating: 1/51
ST CLOUD, MINNESOTA -- 7-11-2013
To Whom It May Concern,
On 7-8-2013, I received a call from customer service regarding my July payment. I explained that I never received the statement, but I will go online to process a payment. Customer service representative did inform me that there was a late fee of $13.99; she said that she could waive the late fee as a one-time courtesy IF I made the payment with her. I told her that I prefer to enter the payment online to avoid any mistakes. She said if I made the payment online, she would not waive the late fee.
I gave her my credit card information and authorized a payment of $13.99. As I waited for the payment conformation number, I logged into my FingerHut account. I checked the FingerHut payment history, noticed a charge of $26.98. I told her she charged the wrong amount. She said the correct amount will reflect in about 2-4 hours. Four hours later, I checked my account and the dollar amount did not change.

I called customer service again, explained the problem to customer service representative, she said she will reverse the $26.98 charge and charge the correct amount of $13.99. I was fine with that. I gave her my credit card number, as she was about the process the payment she informed me that there is a $5.00 processing fee. I told her to stop. I was never told about a processing fee. She said she will waive the $5.00 fee. I thanked her for waiving the fee. She said the $26.98 will be credit back to my US Bank credit card within a couple of days.

On 7-11-13, I checked my US Bank account; I saw the $26.98 charge had not been reversed. I called customer service.
1st call at 10:06 am spoke to Pamela G – After explaining the problem and requesting to speak to a supervisor - Customer service representative hung up.
2nd call at 10:09 am spoke to Marsha – Told her I wanted to speak to a supervisor, she refused to transfer the call and customer service representative hung up on me.
3rd call at 12:13 pm - Spoke to customer service representative (didn’t get her name), explained the issue and told her I wanted to speak to a supervisor. Waited for about 5 min, spoke to Even (Supervisor), told him the problem, he checked the account and didn’t understand why the $26.98 charge was not reversed. He transferred me to another supervisor.

Waited about 10 min, Kimberly (Supervisor) told me that FingerHut does not credit bank cards and will not credit my US Bank card BUT she will gladly apply the $26.98 payment towards my August’s payment. I asked her, if this is the policy why didn’t the other customer service representatives tell me? I spoke to 3 customer service representatives and 1 supervisor and I was never told. I told her that I am not satisfied with that. I was told by the customer service representative on the 8th that the $26.98 payment will be reversed and my US Bank credit card will be credited. She told me to call my bank, that there is nothing she will do. At this point I told her she has very poor customer service skills, unprofessional and her attitude is awful.
I called my bank, told them the problem, they were very professional, understanding and they reversed the charges.

Because of FingerHut’s horrible customer service and straight out lies, I called to request a return packing slip. Since I never used the items I ordered, I will return them and happily close my account.

I doubt that anything will come of this complaint letter, but I very happy that I will NEVER do business with a company that treats its customers this way.
For me to take time out of my busy schedule to write a complaint letter should say enough! I’m sure most people would just blow it off and continue on, but not me!
I call it like I see it.

For the most part, FingerHut has horrible customer service representatives and atrocious supervisors who don’t know what they are doing.
I strongly suggest re-train your representatives.

Unhappy, never to shop at FingerHut again customer!


Monica R
     
Read 0 RepliesAdd reply
StarStarEmpty StarEmpty StarEmpty Star
Ashley Kitchen Table
Posted by on
Rating: 2/51
SAINT CLOUD MN, KENTUCKY -- (OVERALL VERY UNSATISFIED)

I ordered the 5 piece oak kitchen table set by ASHLEY. When I first received it. The table top was completely damaged in the center so I called to complain to a Fingerhut representative. So they sent me another table top which was completely damaged on the corner. At this point I was extremely upset its ridiculous. So I know its not that hard to care for one item. So when I called the third time. I asked to speak to someone hire up. They transferred me to a supervisor who said he was sorry again for this mishap.

I presumed to express my feelings about the situation. But there was nothing he could do for me but send another table top which I would receive within 7 to 10 business days. 10 days later I called back because I still didn't receive my third table top. So the Fingerhut represenative I spoke with this time said that it showed the request for a table top in the system but for some reason it hadn't been sent out. So now after 1 month an a half of trying to be a completely satisfied customer. I am still waiting on my third table top.

(ABSOLUTELY RIDICULOUS) I worked in shipping and receiving as well as retail. There are way to many U.S. citizens in this world in need of a good job. For these excuse me IGNORANT people that can't handle one order to take those job placements. What has this world come to?
     
Read 0 RepliesAdd reply
Payment
Posted by on
I need a mailing address to mail my payment.
     
Read 5 RepliesAdd reply

User Replies:

Anonymous on 2011-09-24:
From their website:

I lost my statement envelope - where should I mail my payment?
Be sure to write your 16 digit account number or 10 digit customer number on your check or money order and mail your payment here:

Fingerhut
P.O. Box 166
Newark, NJ 07101-0166


You're welcome!
Venice09 on 2011-09-25:
Thanks!.. haha
Joe Shaw on 2013-01-15:
Thank I needed that address to.:-) :-)
sally on 2013-05-23:
must appreciated, needed the address.
so much help, thank you!(:
Alonda on 2013-12-28:
Thank you for the blog. Makes Everything so much easier to find.
Close commentsAdd reply
Rip off artists
Posted by on
NEWARK, NEW JERSEY -- I have been dealing with Fingerhut for several years. I have purchased items and paid off my account at least twice.
Just recently I have been having problems with them. First of all my billing due date is the 25th of the month. They have recently been calling on the 2nd demanding payment and charging a "late fee". Nothing I say makes any difference in this.
After my latest conversation with them they took it upon themselves to set up an automatic payment transfer without my permission. I called my bank and cancelled this transfer and put a block on any electronic payments to them.
I will continue to pay my bill by check.
I wish I had the money to pay them off right now...but I don't.
So, now, I am getting these harassing phone calls.
You can bet I will never do business with Fingerhut again.
     
Read 17 RepliesAdd reply

User Replies:

Skye on 2010-08-14:
Are they calling on the 2nd day of the following month? If your payment is due say on July 25, are they calling you on August 2nd? If that's the case, then the payment is late.
Ben There on 2010-08-14:
When are you mailing your checks to them?
Anonymous on 2010-08-14:
I cannot believe people actually still mail checks. I normally write one check a month, to my partner for my half of the bills. That's it.
Skye on 2010-08-14:
Why Prince? There are lots of people who prefer to pay by check, then charge things on credit cards. My parents fall into the category. The thing is, now many places that do accept checks, automatically deposit them as electronic withdrawls, so the money comes out immediately, from checking accounts.
Anonymous on 2010-08-14:
well its not that I use a credit card, but theres online bill pay that most all companies are signed up for, debit cards, etc. Theres just such a variety of easier ways to pay your bills now than mailing out a check and spending 44 cents per stamp.
Anonymous on 2010-08-14:
then you know they have the money, and don't have to worry about the snail mail and how long it will take to deliver, and hopefully not lose it, and then how long it will take for the company to open it up and input your payment into their system before its late.
Skye on 2010-08-14:
But some people do not like change, and that's why they pay by check. Whatever the OPs reason, I'm just curious if the day they are calling them for payment, is the 2nd day of the following month, which would make their payment late.

Skye on 2010-08-14:
By the way Prince, I wasn't implying anything about you, when I mentioned credit cards.
Anonymous on 2010-08-14:
No problem Skye. youre right though some people are CC happy.
Weedwhacked on 2010-08-14:
I make my auto payment online but every time I need to transfer money to my wife's account for our mortgage I withdraw the cash from Bank of America and deposit it to Chase. I don't trust any of these banks with having to write personal checks and having to wait until they decide to clear it.

I also settled an account with two large payments that they wanted by electronic check. Yeah sure, they got two monthly payments in the form of money orders. I was not about to disclose my account information to them.
spiderman2 on 2010-08-14:
I have 3 bills I pay by check -- two of them (my mortgage and my water bill) want me to pay a service fee for the convenience of paying online and Verizon because every time I pay them online they screw it up. I just make sure to put the check in the mail a few days before its due.Everything else gets paid online.
lilydarling on 2010-08-15:
If your payment is due on the 25th, do you mail your check by the 18th of each month at the latest? Because anything after that will probably end up getting there late.
biomajor on 2010-08-15:
I pay my trash service and my water bill by check. Trash isn't available online and it's quarterly, anyway and water wants to charge $1.95 a month to pay my $15.00 bill if I pay online and that's just crazy.
LizzieD on 2010-08-16:
The invoice arrives on the first of August, the payment is due the 25th of August. They call demanding money on the second of August. I was paying online, as I do all of my bills, until these people took it upon themselves to take money from my account without authorazation.
And, just as a note, I will pay this account with a money order from now on. A check is just inviting bad behavior.
Skye on 2010-08-16:
Lizzie,

Thanks for coming back and letting us know how you are making payments to them. Did they give you a reason, why they are calling to be paid on the 2nd, if the bill is not due for another 23 days? It would be interesting to know what their reason is.
Sam on 2013-04-26:
Paying bills by money order is the best and only way to avoid this. Send it with confirmation. Anyone paying repeat anyone paying with an echeck here is just not right
smitty on 2013-08-04:
I have never had a problem with them so far
Close commentsAdd reply
Outrageous Finance Charge
Posted by on
I have been with Fingerhut for less than a year now. I hope by publishing this info about Fingerhut I am able to help others before they get nabbed....mafia style by Fingerhut.

Their products are way below average in quality
and their interest rate is outrageous but you don't find any of this out in the beginning as it is not apparent.

Most of their products, in my opinion, must be made in 3rd world countries-- the quality is not evident.

Plus the point I want to make here is the most important:

I have a few other credit cards and the one that charges the least amount with the highest quality is Dillard's at 18%. You get what you pay for and the interest rate is not going to break you and they don't make a point of hiding the rate like Fingerhut does. Shame on Fingerhut.

Fingerhut, how dare they. They do not make you aware in any of their info that their interest rate is 25%. This is criminal, mafia style.

As soon as I get rid of this bill, which is about 3 more payments, I don't want any more to do with them..ever! You would be wise to heed my advice.

Most of what I bought has worn out or broken before I am even able to pay it off. Pure junk of which the Fingerhut members pay 25% for. Guys that is. 25 cents on a dollar....like I said it is Mafia Style.....think about it
     
Read 2 RepliesAdd reply

User Replies:

tnchuck100 on 2009-11-02:
Getting away from Fingerhut is a good move. They are a high interest junk dealer. Their primary customers are those who have poor credit.

But, just for the record, a 25% APR does not directly translate to 25 cents on the dollar of what is purchased.

The way the interest is applied is 25% / 12 = 2.08% per month and is used to calculate that months interest on the unpaid balance. Say, $200. That would be $4.16. The new balance before your payment would be $204.16. Now, say you make a $10 payment. Your new balance is $194.16. Your $10 payment only gained you $5.14 toward your balance.

Most use "average daily balance" to calculate interest. That does gain them a couple of cents more from you.
CrazyRedHead on 2009-11-03:
We occasionally get a Fingerhut catalog and it explains the finance charge and the shipping charge in it. I was with them a long time ago and agree with you, they are cheap. My husband wouldn't listen to me and ordered something from them, he now agrees with me.
Close commentsAdd reply
Shipping Charges
Posted by on
I just placed an order, and I have never seen such high shipping charges/taxes on any one ordering company; this is why I did not finish with my order; I could not believe the total on my order.
     
Read 1 RepliesAdd reply

User Replies:

Anonymous on 2009-01-30:
I am amazed Fingerhut is still around. Poor quality, high prices and super high S&H fee's. They are making a profit but I can't believe people are willing to pay the prices.
Close commentsAdd reply
Defective Product
Posted by on
VANCLEAVE, MISSISSIPPI -- I ordered this for my wife as a birthday present, not only did it take 3 weeks, but when we received it, we followed the instructions to a tee, it started smoking and smelled like wires burning, now we get the privilege of getting the run around to try to get this matter fixed, try and go online to talk to customer service, you can't find a way, it says contact us but when you click on it it sends you every were but were you need to go. Any suggestions of how to get hold of these people.

The way I work by phone is no good they are not open before I go to work and closed when I get off, I had thought of getting a Fingerhut credit card but having 2nd thoughts, if it's this had to get hold or anyone, kind of regret using them to start with.
     
Read 4 RepliesAdd reply

User Replies:

Anonymous on 2009-01-19:
A steam iron for her birthday? Who says romance is dead?
Anonymous on 2009-01-19:
Hmm, ordering from Fingerhut... it was either the steam iron or the cross-word puzzle toilet paper.
CrystalSword on 2009-01-19:
Fingerhut is way over priced and the interest on their stuff is outrageous. I tried to reach them to cancel getting their catalog....what a joke!
Anonymous on 2009-01-19:
Fingerhut has historically sold over-priced, inferior merchandise on 'easy credit'. They target low-income and new families just getting established who are willing to trade product quality for the ability to 'make payments'.
Close commentsAdd reply
Continuous Unwanted Calls
Posted by on
Representantives of Fingerhut have called me on my cell phone a total of 6 times now looking for someone named Ms. Atkins, whom I am not. The first call on Dec.19th of 07 at 10:49am, I simply told Fingerhut they had a wrong number. The second call on Dec.20th of 07 at 8:25am, I made sure to tell the rep. that I am not Ms.Atkins, they have a wrong number, please remove my cell phone number from your system. I was told it would be removed. The third call on Dec.21st of 07 at 2:14pm, I asked for a supervisor. The rep. hung up on me. The fourth call on Dec. 22nd of 07 at 8:59am when I asked for a name, the line "suddenly" went dead. The fifth time, on Dec. 26th of 07 at 11:53am, the caller never responded to my hello when I answered, and today, Dec.27th at 12:07pm, more joy. I re-explained for the umpteenth time that I am not Ms.Atkins and then simply asked for a supervisor. Of course, I was told by the rep. that the supervisor was in a meeting and that they would call me back. The rep. didn't want to provide me a call back number for the supervisor, nor would she find another supervisor, and or manager to speak with me. The rep. much to my dismay didn't have any customer service inclinations at all. She/ the company she works for is in error, and she didn't have any qualms showing how annoyed she was at my questions. I asked if anywhere in their system is there a note or anything at all stating that my cell phone number should be removed. According to her, there isn't, but that was all. The rep. basically said goodbye and hung up. No resolution or gasp! dare I hope for an apology? They are basically harassing me with these calls, using up my minutes, and I can't find a corporate address anywhere on the web for a complaint/ help. The only info available is the customer service number, which hasn't helped. I've never done business with Fingerhut, and now I know never to do so.
     
Read 9 RepliesAdd reply

User Replies:

MRM on 2007-12-27:
Wheres your caller ID feature to avoid the calls?
Ponie on 2007-12-27:
I'm with MRM. Why do you even bother answering these calls?
Principissa on 2007-12-27:
I would just stop answering if it is the same number calling you all the time. If they are using different numbers each call I can see why you would still answer. Go look on their website to see if you can find a contact number for them, and demand to speak to someone higher up and demand they take your number off the list.
Anonymous on 2007-12-27:
I like your NIC.Frankiefurt,
it reminds me of Frankie goes to Hollywood.Relax!
JustLady on 2007-12-27:
Here is the address I found on their website, hope it helps:

Fingerhut Direct Customer Service
6250 Ridgewood Rd
St. Cloud, MN 56303

Anonymous on 2007-12-27:
Here is some contact information from their website:

Fingerhut Customer Service:
1-800-208-2500
Monday - Friday,
8 a.m. - 8 p.m. Central Time

Fingerhut Direct Customer Service
6250 Ridgewood Rd
St. Cloud, MN 56303

SilverWngs71 on 2007-12-27:
Fingerhut Customer Service is located in India. At least the ones are that I have spoken to. Yes, they will keep calling, and the reason no supervisor is they will keep calling unless there is a written letter to the company, asking to have the # removed.
Anonymous on 2007-12-27:
Can you add the number to your call blocking on your cell phone?
SilverWngs71 on 2007-12-27:
Not really because they use many different 1-800 #'s to call from and it sounds like a recording till they hear the person pick up and say "hello." Believe me, I've tried!!!
Close commentsAdd reply
Truth In Lending Laws-Violations
Posted by on
SAINT CLOUD, MICHIGAN -- This company been and has been in Violation of the Federal Truth in Lending Act. Which states that any company who lends on time payments and charges interest, must state on the product the interest rate, The full price, the amount of payments, which they do not, they only state it on the finance page. Which is now over 24%, and CIT banking is financing them. The F.D.I.C enforces this law.

Basically it comes down to this if you bought anything from them on time, you can cancel the contract, because of illegal violation of not reporting the full interest rates. The Interest rate must be printed under each item they sell advertising time payments. Every and All contracts on time is Voidable, due to Illegality, with the Fingerhut Operation.
     
Read 15 RepliesAdd reply

User Replies:

Anonymous on 2007-05-23:
Sorry you were taken by these guys. Fingerhut has been "sticking" it to people for a long time. I can't understand why they have not been fined. There are so many complaints about them everywhere.
Pomona Guy on 2007-05-23:
Are you a lawyer? If not, you shouldn't be giving legal advice.
LAWHEAD on 2007-05-23:
Look up the Act on the Internet! READ IT! Any Judge will find in your favor, if you could ever get the owners to Court. Try to contact Figerhut by Phone, all you get is Robots.

The Federal Truth in Lending Act, Enforced by the F.D.I.C. States that any business that sells products on time payments, must state the interest rates on each of those products. Fingerhut does not do that, in their catolog.

Violating the Truth in Lending Act, can make the sale viodable, leads to fines, and in some cases Jail. It is time a Class action suit, be brought against this Company. Before other companys do the same thing.

Who caused the Federal Truth in lending Act to become Law was SEARS. Sears used to advertise all their big ticket products with just so much a month, they didn't even show the price, and certainly not the interest rates. It was one big Con. They would show 15 dollars a month or 20, but no price or interest rates.

Example how they would sell Sewing machines to mainly Women. They first would set the woman down to a 1200 dollar sewing machine desk, and the lady would ask how much is this, the salesman would say 15 dollars a month, could you afford 15 dollars a month on your SRC (Sears Revoling Charge Card) oh yes I could, Then the salesman would say, would you like to trade in your old sewing machine, we will give you 40 dollars off, she would say yes. Now the desk came with a chair, but if they gave her 40 dollars for the old machine, they would take away the chair. They then would say when did you want delivery, never even asking her to buy the machine. When you go to Sears, they alway have 2 or 3 models, so they can bate and switch you. You certainly don't want the Air Conditioner that has one speed. All I can say is, "Let the Buyer Beware"!
bill on 2007-05-23:
I didn't know the Federal Deposit Insurance Corporation (F.D.I.C.) had the authority to enforce laws.
*Brenda* on 2007-05-23:
MCL 600.916: "A person shall not practice law or engage in the law business, shall not in any manner whatsoever lead others to believe that he or she is authorized to practice law or to engage in the law business, and shall not in any manner whatsoever represent or designate himself or herself as an attorney and counselor, attorney at law, or lawyer, unless the person is regularly licensed and authorized to practice law in this state. A person who violates this section is guilty of contempt of the supreme court and of the circuit court of the county in which the violation occurred, and upon conviction is punishable as provided by law. This section does not apply to a person who is duly licensed and authorized to practice law in another state while temporarily in this state and engaged in a particular matter."

So, ARE YOU A LAWYER Lawhead? Doubt it! I'd quit giving legal advice if I were you before it bites you in the butt. BTW, This is NOT legal advice. :-p
Starlord on 2007-05-23:
We used to be customers of Fingerhut some years ago. we finally got out of their clutches when they stated we had ordered a bunch of camping equipment and then didn't pay for it. I was, for all intents and purposes was an invalid, and there is no way we would have ordered camping equipment. As we knew how hard it is to disprove a negative, we paid the account off. I heard that Fingerhut had gone out of business, and had heard nothing from or about them until just recently, when we began getting catalogs from them aqain. The catalogs go immediately into file 13. We can buy the same stuff as Fingerhut offers for about 1/3 the price at our local Wal-Mart. We don't need Fingerhuts lousy service and usurious rates.
LAWHEAD on 2007-05-23:
Brenda READ IT!


General Information

The Truth in Lending Act and Advertising

The main purpose of the Truth in Lending Act is to assure the meaningful disclosure of consumer credit and lease terms, including those in advertisements, so that consumers can easily compare terms and shop wisely for credit.


Before passage of the Act, an advertiser might have used only the most attractive credit or lease terms, thus distorting the true cost of the credit or lease. For example, an advertisement might have read, "'63 Chevy, only $30 per month." Whether this is a bargain depends upon information missing from the advertisement, such as the downpayment and the number of payments. The ad also omits the annual percentage rate and does not state whether the transaction is a credit sale or a lease. The Act requires that the advertisement tell the whole story.


For example, if an advertisement contains any of a number of terms specified in the Act, then that advertisement must also include certain prescribed disclosures. In other words, the specified terms "trigger" the disclosures. If, on the other hand, the ad does not use "triggering" terms, it need not make the disclosures. The type of transaction you advertise—closed-end credit, open-end credit, or a consumer lease—determines whether a term is a "triggering term" and, if so, what disclosures are required.


If you, as an advertiser, are unclear about what type of plan is being advertised, or about any of the specific terms of the plan — including the annual percentage rate—you may want to contact the creditor directly to obtain this information. This may help ensure that the credit terms you advertise are accurate.


Who Must Comply

If you place an advertisement that promotes "consumer credit" or a "consumer lease" as defined in the Act, you must comply with the law. Thus, advertisers, not just creditors and lessors, must comply, including associations, manufacturers, real estate brokers, builders, and government agencies.


There is no liability under the Act for the media in which advertisements appear. The media can, however, protect their customers by screening advertisements to make sure that they comply with the law.

Oral Rate Disclosures

Certain rules apply only to creditors. If a consumer orally asks you, a creditor, about the cost of credit, you must state the annual percentage rate. For closed-end credit, you also may give a periodic or simple interest rate that is applied to an unpaid balance. For open-end credit, once you state the APR, you also may give the periodic rate.


If you cannot determine the annual percentage rate for the specific closed-end credit that the consumer asks you about, you may disclose instead the annual percentage rate in a sample transaction. You also may give other information that applies to the consumer's specific transaction, such as the contract interest rates and points.

Liability for Violations

If you fail to comply with the advertising requirements of the Act, you may be subject to law enforcement actions. Advertisers of consumer credit and consumer leases under the FTC's jurisdiction are subject to enforcement actions that could result in remedies such as:

Orders issued by the FTC to cease and desist from violating the Act. Subsequent violations of the FTC order may result in a civil penalty of up to $11,000 for each day the violation continues; or,
Injunctions issued by federal district courts against future violations. Violations of court-ordered injunctions may result in civil or criminal contempt proceedings.

If you are under the jurisdiction of a federal regulatory agency other than the FTC, you may wish to consult with that agency to determine your liability for placing a credit or lease advertisement that fails to comply with the law.


In addition, anyone actually harmed by a non-complying consumer lease advertisement may sue you for:

actual damages;
25% of the total amount of monthly payments under the lease (but not less than $100 nor more than $1,000); and
court costs and a reasonable attorney's fee.
*Brenda* on 2007-05-23:
yellowcanary, you have issues. I don't hate customers; I don't even work in retail.

Lawhead, YOU CAN'T POST LEGAL ADVICE WHEN YOU AREN'T A LAWYER. What part of that don't you understand? Furthermore, it is BAD legal advice.
poppapia on 2007-05-24:
The FDIC is one of several federal agencies that are responsible for enforcing monetary regulation; it depends on who is the primary regulator for a specific bank, which may, or may not, be the FDIC. However, an individual can not arbitrarily cancel a contract due to a TIL violation, but can seek legal relief from this obligation, which, in most cases, does not erase the debt, but merely cites and fines the lending institution.
LAWHEAD on 2007-05-24:
This case is now in the hands of the F.D.I.C.
*Brenda* on 2007-05-24:
yellowcanary, you say that to everyone. Plus you are the one calling me a "B*tch" and calling others pricks so I think you need to take a good look in the mirror before calling others rude.
Starlord on 2007-05-25:
Sorry, poppapia. Lawhead, the FDIC, or Federal Deposit Insurance Corporation has nothing at all that I am aware of in enforcing any laws concerning truth in lending. What the FDIC does is to insure monies deposited in bank accounts. The FDIC insures bank asccountsup to $100,000, so that if the bank, for some reason, were to fail, like back in the 30's, the FDIC will replace any monies in accounts up to $100,000. The FDIC couldn't care less about truth in lending or advertising or playing mumbly-peg.
poppapia on 2007-05-25:
starlord, you are wrong. The FDIC does have an enforcement division, which are responsible for financial institutions that have state charters.
breathoffreshair on 2007-06-20:
okay well, this post started with a nasty description of law.
1.) lawhead, brenda is right, your not a lawyer don't post legal stuff.
2.) you interpretation of the law is clearly from a consumer perspective, and not from the perspective of a government with free market.

Fingerhut does not have to plast each page of the catalog with their interest rates. When opening the account you agree to the terms and conditions of the acct.

if they were in violation there would be much larger fish to fry. .

do you walk into macy's and see the interest rate on all merchandise? no.

fact is, Fingerhut credit isn't the only way tto shop, and once you agree to the terms and conditions of the acct that's it. . .it's not like they don't tell you.

so shut up, your annoying.
breathoffreshair on 2007-06-29:
p.s. I got a hold of one of the Fingerhut catalogs. . . after every price and product description is an asterix, the asterix at the bottom of the page then tells you to turn to another page, which starts talking about the terms and conditions, and finished on another page ( also referred). . .so what it looks like to me mr. lawhead, is maybe you should try to get the head first and do the research before you do the legal side of it and finally- don't even come back with making a comment that it is hardto find all that information- you're and I am and we are all the consumers, consumers have responsibilities too. . . not just the business.
Close commentsAdd reply
Top of Page | Next Page >