GE Money Bank Complaint - GE Money for Sleep Comfort
Last August, 2008 my husband and I purchased a Sleep Comfort bed with great terms - 0% interest. We understood that if we were late on a payment, we'd have to pay all the interest up to that point to be current again. We signed.
In December 2008, I set up automatic payments so that we'd never be late. The first selection was worded in such a way as to make me believe that the billed balance due would be withdrawn each month. Well, that month (Christmas no less) they took the entire balance out of the account, then told me I'd have to wait 4 - 6 weeks to get it back (!!). The balance was greater than $5k and now all other bills were at risk for not being paid. This was a HUGE inconvenience, and I feel they treated me like a complete idiot and just didn't care about the havoc this caused.
THEN to top it all off, although I'd requested they return ONLY the excess amount (over the monthly payment due), the entire amount was returned, they said we were now late because we didn't make an 'extra' (ha!) payment for December (no money to pay them - they had it all already), and they revoked the 0% interest - INDEFINITELY. So now they want us to pay 29.99% interest for this bed.
I have NEVER just decided to not pay a creditor and have had 700+ credit scores for years, but I'm so furious with them that I just can't send them money - - it does nothing to the prinicpal balance anyway, which is just as high now as it was when we purchased the bed.
They can come pick it up as far as I'm concerned. This situation is unjust, and the people I spoke with were bored with the conversation it seemed.