Spencer
Veteran Member
- Joined
- Jan 2, 2002
- Messages
- 1,267
- Location
- Western Michigan
- Tractor
- NH TC33D w/R4 Tires, Rear Remote, Hydraulic Toplink, 2 Auxiliary Work Lights, 7308 Loader w/Kasco Uni-Hitch (Quick Tach)
I am wondering if anyone else is having the same problems that I have been having with CNHC. Back in July I got a late payment notice from them. I checked with my bank and sure enough the check I had sent them never got cashed even though every other check I wrote and mailed that day did. After I called them to see what might have happened I promptly sent out a replacement check. I got home today from another business trip and I have another late payment notice waiting for me. It seems that the check I wrote on 8/20 never got cashed, again even though every other check I wrote and mailed that day did. I print all my checks using Quicken and the address comes up automatically. I place the check in a two window envelope so that the address shows through the bottom window. So I know it wasn't an issue with my handwriting or that I wrote the wrong address. The customer service representative said that the address I have been sending my check to out in Pennsylvania is still a good address, but she gave me a different address in Illinois to try from now on.
My initial reaction is that this is their way of trying to make more money through late fees, etc. Maybe they are trying to piss me off enough to get me to just pay off the loan so that I don't have to deal with them anymore. My loan only has a balance of around $3,000 and most of the interest has already been paid so paying it off early does not make finincial sense for me, but it would benefit them if I paid it off now.
I listen to a lot of talk radio and I have heard numerous stories about credit companies. I know that one particular electronics store has a bad reputation for screwing people over on their no-interest loans. They sell you something with no interest for the life of the loan, but if you ever make a late payment then not only will they charge you interest for the rest of the loan they will back-charge you interest from day one. It seems that an awful lot of payments get "lost in the mail" and a lot of people end up getting screwed out of a lot of money. Now I am not saying that any of these credit companies would intentionally misplace someones payment to try and make extra money, but there is little stopping them if they wanted to.
My initial reaction is that this is their way of trying to make more money through late fees, etc. Maybe they are trying to piss me off enough to get me to just pay off the loan so that I don't have to deal with them anymore. My loan only has a balance of around $3,000 and most of the interest has already been paid so paying it off early does not make finincial sense for me, but it would benefit them if I paid it off now.
I listen to a lot of talk radio and I have heard numerous stories about credit companies. I know that one particular electronics store has a bad reputation for screwing people over on their no-interest loans. They sell you something with no interest for the life of the loan, but if you ever make a late payment then not only will they charge you interest for the rest of the loan they will back-charge you interest from day one. It seems that an awful lot of payments get "lost in the mail" and a lot of people end up getting screwed out of a lot of money. Now I am not saying that any of these credit companies would intentionally misplace someones payment to try and make extra money, but there is little stopping them if they wanted to.