Yard card - 0% Financing
0 % Financing for 4 years - Complaint
MAHWAH, NEW JERSEY -- In May of 2012 I made a purchase of a Zero Turn Mower. The dealer said that he had a company that would finance the purchase for 0% for 48 months. I said lets go for it. I received paper work from Yard Card stating that my due date was the 14th of the month. I use B. O.A. online banking and have done so for years. I set up my bank to pay on the 8th of the month. The first month, June, went fine, just like it was supposed to do. Just like all my other payments have done over the last 6 years. Then the 2nd month came by and then that is when Problems started. B. O.A. sent the payment on July 9th it was delivered on July 12, was subtracted from my bank account on the same day. But guess what TD Ameritrade, Yard Card didn't apply my payment until July 26th making the payment of course late and they of course applied a late fee $38.00.
The next month B.O.A sent them my regular payment it was sent on Aug 7th delivered on Aug 9, withdrawn from my account on Aug 9th but again this payment set around somewhere until Aug 13 th when they finally applied the money. This month since I only paid the regular payment and not the late fee another late fee was charged, and this time they sent me a letter telling me I was past due. I thought this was just some simple accounting mistake because I knew I had made all the payments before the due date of the 14th. I looked up my payment history on this account and that is when I found that only the 1st months payment had been applied to my account on the date that my money was taken out of my bank account. The other months the payment was applied randomly but only the one in July was applied after the due date. I then checked my other bank payments and found that every one of my payments were applied to my accounts on the day the money was taken from my account. Every single one of them Month after Month after Month my payment was applied to my account on the day the money came out of my checking account.
So I thought something is just going on here and I can call TD Ameritrade Yard Card and get this fixed and we'll be on our way. No problem.
Man was I wrong. They blamed me for the July payment being late. They could offer no explanation of where my payment was from July 12th when it was taken out of my checking account until July 26th when they finally applied it.
They could offer no explanation for the other months payments that were not applied on the day funds were withdrawn. I spoke to several other individuals at the Mahwah NJ office and got the same line from them all. The late fee for July stood and the other months late fees did to, even though every payment I have made to this company have been taken from my B.O.A. account days in advance of the due date. So I turned it over to B.O.A. My bank was finally able to get TD Ameritrade to drop the July late fee but could not get them to drop the other months late fees. I have called them several times and they tell me that getting the $$$ to them on time is my responsibility. Short of hand delivering this payment I can't see how I could get it to them any better or faster. They give me the same kind of speech like the ones at the start of this blog back from 2010. So I would probably guess those bloggers work for the company. So I wouldn't pay much attention to their remarks.
Finally today was the last straw. I sent them 2 payments. One for the regular monthly payment and one for all the late fees. They were both taken out of my account on the 8th. The payment was applied the late fee payment was not. Another late fee added on.
After what all I have read about this company. They are a real piece of work. I am now looking for an attorney to file a class action against them.
I am sure I am not the only one to fall into this 0% for 48 months scam.