Misleading sales

[Zulgaines]

North Carolina

My grandmother bought a water filtration system for her home, the price being about $9,000. She was under the understanding that the monthly fee would be about $180 a month, which is was.

Except over $100 of that turns out to be interest fees, she's being charged like $3 a day in pure interest and now she's terrified and doesn't know what to do because the company doesn't offer refunds for their product.

 

[Zigner]

North Carolina

My grandmother bought a water filtration system for her home, the price being about $9,000. She was under the understanding that the monthly fee would be about $180 a month, which is was.

Except over $100 of that turns out to be interest fees, she's being charged like $3 a day in pure interest and now she's terrified and doesn't know what to do because the company doesn't offer refunds for their product.

Thank you for sharing. I am confused though. What was misleading?

 

[Zulgaines]

Well mostly just trying to figure out if she has a leg to stand on here or if she's just screwed.


She bought it after a big presentation, interest and monthly plans were never mentioned, I'm not even sure what all she had to sign. After looking through all the different pamphlets and papers they left I couldn't find anything about it either. $180 a month is about the only information she had to give, today she got her first bill.

 

[Proserpina]

Well mostly just trying to figure out if she has a leg to stand on here or if she's just screwed.


She bought it after a big presentation, interest and monthly plans were never mentioned, I'm not even sure what all she had to sign. After looking through all the different pamphlets and papers they left I couldn't find anything about it either. $180 a month is about the only information she had to give, today she got her first bill.

I'm going on a hunch here, but I expect that the costs appear somewhere in that paperwork.

It sounds like buyer's remorse. Sorry.

 

[LdiJ]

North Carolina

My grandmother bought a water filtration system for her home, the price being about $9,000. She was under the understanding that the monthly fee would be about $180 a month, which is was.

Except over $100 of that turns out to be interest fees, she's being charged like $3 a day in pure interest and now she's terrified and doesn't know what to do because the company doesn't offer refunds for their product.

That sounds like somewhere in the neighborhood of 12% interest per year. While that is a bit high its not dramatically high. As she pays down principal the amount of interest will be lower and the amount towards principal will be higher. It works the same way with mortgages and car loans.

 

[Zulgaines]

17.99% I believe, I didn't have exact numbers before. We're going to just put it all on my credit card and deal with it that way instead.


There's apparently a lot of consumer laws in Europe that would of protected her, but here in the ol' USA she's just SOL. Thanks for the help anyway guys.

 

[OHRoadwarrior]

I suggest you determine whether she can escalate the payoff and avoid the high interest fees.