Released: July 09, 2013

Taking consumer complaints seriously

Source: Mitch Margolis - US News

Harry from Massachusetts thought his son Ari, a 21-year-old infantry soldier, had been bilked by the company that financed his purchase of a truck. Besides paying an 18 percent interest despite his good credit, Ari was talked into a package of dubious extras, including a "comprehensive" insurance plan that didn't cover several major components. Every month he was hit with monthly processing fees that weren't even listed on his statements.

Ari was left with a monthly payment of $700 – more than 70 percent of his take-home pay. To add insult to injury, the lender that put him in this fix had the nerve to promote itself as a "proud" provider of "educational services" as well as credit to "our active duty customers."

Read Full Article: Taking consumer complaints seriously