Bought new kitchen appliances on 18 months no interest credit contract from Sears. Two of the appliances delivered were the wrong items, items different than what we ordered.
Sears eventually replaced the incorrect items with correct items. However, the corrected items were not included on the original 18 months no interest contract -- we found out later. For 18 months we paid on the appliances through automatic bank deductions, and when the appliances were paid off, we discovered we still owed Sears a balance. At this time, we looked into the matter and saw that we had been charged interest upon interest upon compounded interest, and this was why we had a balance due.
It was all interest from the two items Sears had delivered that we did not order. We promptly contacted Sears credit department to resolve the matter, provided all documentation, showed that the reason we had the items replaced was due to Sears' mistake, not our mistake, that we did not order "new" items, that all the items we bought should have gone onto the 18 month no interest contract, and that all the items therefore were paid in full. We went round and round over this issue and spoke to credit manager after credit manager to no avail. The bogus interest charges just keep compounding and compounding.
We now have a balance of over $3,000 on a balance which has been paid in full. Sears credit department calls us relentlessly, harasses us endlessly. I anticipate our credit rating will take a hit if it already hasn't. I hope they take us to court on this matter so that we can present it to a judge, but in the meanwhile we have to deal with the harassment.
Is this a scam?
Does this company find a way to charge bogus interest, compound and compound that interest until you "owe" them so much money that any means to collect this "debt" is justified? Shame on you Sears!
Product or Service Mentioned: Sears Manager.
Monetary Loss: $3000.