Dell Finacial Services Rip-Off

Angelox · #1 09-24-2007, 10:08 PM

Well, maybe I could have done worse .. SInce I started working in my son-in-law's automotive shop, among everything else , I pay all the bills, including the house bills. Needless to say, he lives in a "credit jungle" and has waay too many bills. One bill attracted my attention; it was for a "Rent to Own" scam ( you probably have one in your town too!). Anyways, I see the bill, balance is a little under 3000.00 and the regular payment is 350.00(@month). So I'm thinking, "this bill will get paid off in months!", something to look foward to. Out of curiosity, while I was direct-bank paying paying them (yeesss, even more charges for the direct pay service!), I asked when was the final payment. "About two years", he said. Now, I'm no great mathematician or accountant, but I do carry a Dollar General calculator that does my math

. 24 x 350 = 8400.00!
This is sort of like Dell, only I guess Dell is worse because you would never finish paying them, and eventually, after years of slaving to pay them, you could loose your job, get sick, or just flat-assed get pissed and not pay. Then they will ruin your credit rating too.
But credit? really not that important, if they decine your credit request, you should thank them because they just did you a great favor. But people like "Rent to Own", deny no one credit- they get whatever they can off you, then when you miss a payment, the "Rent to Own" truck pulls up in your front yard and totes off whatever it was you thought was yours

techguy84 · #2 09-25-2007, 03:16 PM

Yea, i know the Rent to Own scams. I havent seen the billed ones, myself, but mine are like you go to there store, find something you want, and then pay a weekly bi weekly or monthly payment. I got a laptop from them one time for a temp job. It was 29.99 a week so grab your little dollar general calculator back out and crunch that number times 80 weeks. Okay, so now you got $2400.00 total payment. The catch with it is that this laptop is about 6 months old, used and has a market price of $500. Yay you say when you paying almost 2 grand more for something. I hate R2O places because of this. It was awesome for a temporary solution for a little bit of time. 2 weeks is all that I needed the lappy for so it was definetly better than paying $500 when i didnt need it anymore.

BTW, this company was Rent a Center, if we are sharing are hated for companies that screw you over.

Angelox · #3 09-25-2007, 07:30 PM

Yea, I think they are the same ones (just had the name wrong) Rent a Center; When I went to pay them (these people would not take checks, the wanted cash) , I told them they were robbers and thieves, should be in jail.
My daughter finally did get the money for the pay-off, and got those creeps out of the way.

Lalolyen · #4 09-25-2007, 07:54 PM

Angelox, credit cards are good for 2 reasons in my opinion, and this isn't Dell, its any credit card company (Dell just happens to have their name printed across a "Citi Financial" owned card)..

1. To build your credit up (by means of buying 1 stick of chewing gum per month and paying the bill when it comes in before any intrest can be tacked on.

2. In EXTREME emergency situations where a bank cannot be used (example: You are on a trip in Mexico, its sunday at 5 PM and you missed your plane, you need to pay an extra 500 dollars or so to get on the next one and you have to be at work the next day). Even then, like you said, the next day, pull out a lone, pay the bastards off when that bill comes in.

If you want cash for gizmos, visit your local bank =), if they loan shark you, they have the Federal Reserve to deal with he he.

But I know what you were talking about and I'll explain how they did this...

Credit Card companies can imply fees 1 year later than what the fee was accessed for...

You got hit up with that clause. You maxed out the credit card on March 01 @ 1.5K. On April 02 the bill is due, and WOAH! You just got intrest added to the 1.5K that now puts the balence to 1.55K which is over your credit limit...

Yep there is a 20-60 dollar fee... each month. And your min payment is still 40ish dollars, because they aren't going to anticipate the overlimit fee in your bill.

Credit Card companies are evil... period.

Lalolyen · #5 09-25-2007, 08:00 PM

*** not to mention any other monthly and annual fees you may have had with that.

Angelox · #6 09-25-2007, 10:37 PM

"If you don't have the money to buy it, then you can't afford it"

This was told to me some time ago, and it stays in my head (I need to follow this policy too).

soulshot · #7 09-26-2007, 01:52 AM

Seconding the cutting up of credit cards. Also your bank should be able to give you a debit card against your checking/savings accounts for those emergencies you are talking about. The only fee associated with it is atm's at other banks, but 95% of the time you can just use it like a credit card etc.