Omega Financial Group and Monthly Interest Rates

[thatlbtheday]

I am a member of the Phi Delta Theta Fraternity at the University of Cincinnati. This year, our house decided to use a financial service called Omega Financial in order to pay our bills more efficiently. My question is that this service adds a six percent interest rate per month to outstanding bills. This is an extremely high rate , and an individual who has a $1000 balance at the beginning of the year will have a balance of $2260.90 if this balance is unpaid. There has to be SOMETHING to prevent such a large rate. Could someone help me with this, my email is [email protected].

Thanks
Bill Hnat