Consumer Law, Warranties verbal agreement vs written contract

[Needing_Advice]

I purchased something at Conn's. The salesmen said that I had 12 months to pay it off without interest. I asked when do I start, he said when the booklet arrives. I purchased in March, the booklet came in April. I paid 3400.00 off by April. 10 months later they are saying that I owe 1400.00 on interest charge because the last payment of 175.00 should have been paid off in March. "Read the contract. You signed the contract." Is this legal? I feel as if they were deceptive.....or is this an expensive lesson I need to learn?

 

[army judge]

I purchased something at Conn's. The salesmen said that I had 12 months to pay it off without interest. I asked when do I start, he said when the booklet arrives. I purchased in March, the booklet came in April. I paid 3400.00 off by April. 10 months later they are saying that I owe 1400.00 on interest charge because the last payment of 175.00 should have been paid off in March. "Read the contract. You signed the contract." Is this legal? I feel as if they were deceptive.....or is this an expensive lesson I need to learn?

There was no oral contract.

The salesperson merely gave an incorrect answer to your question.

The contract that controlled this purchase was written.

You might do better by arranging a meeting with the store manager.

You should ask him/her to excuse or forgo this charge based upon the incorrect answer to your question given by the salesperson.

You should point out that you kept what you thought was your part of the bargain.

Let the manager know that you are a loyal Conn's customer, but will reevaluate your position should he/she choose not to help you remedy this oversight.

Last, but not least, be prepared to offer an extra payment of $150 to try and work with him/her so Conn's can help a loyal customer do the equitable thing.

It is always better to negotiate, rather than threaten.

Why would you do this?

Because, legally, you're responsible for this oversight.

And, isn't $150 better than 10 times that amount?

 

[FlaRiptide]

41% interest - wow!

As there is no usury law in effect in Texas, there is a "general" understood rate of 6% used in consumer transactions.

Therefore, I'd suggest offering $204 (6% of $3,400) in lieu of the $1,400 they are asking. I feel this is a more meaningful offer versus the $150 that Army suggested. At least you would have backup as to how and why you calculated the $204 offer.

 

[Needing_Advice]

Unfortunately, I had spoke to the head of the department store, even at corporate level. I had already offered to pay them 500.00, but they said that would send it to management to be waived, and 14 days later, I received a letter in the mail stating that I would have to pay the interest. I called and spoke to the main office and the person said that "a contract was a contract". So I have no choice but to pay off the interest and chalk this up for an expensive lesson. I just don't think that it is fair. It seems like a scandalous type of loan. Thank you so much Army Judge.

 

[FlaRiptide]

Don't give up hope so easily. Who at corporate have you spoken to? Go up the ladder to the top if necessary until you reach someone with a sympathetic ear. This isn't about policy, this is about empathy for the consumer. Be nice and non-argumentative and perhaps you'll locate someone to listen and understand your predictament.

Policy is to punish those who try to abuse the system. Empathy "should" be available for those who truly have had a misunderstanding. Since you paid in full in April, only one month shy of the no interest promotion, it is rather obvious that you are not abusing the system but rather misunderstood.