This is a rant not to pass the buck on my responsibility but to generally point out poor customer treatment I received from Furniture Row and their financing company, HSBC bank.
I purchased a couch set last year and got a no payments and no interest deal for 13 months. The problem began when I receive the monthly statements that said I owed no payments, but did not indicate when the payments would start. In fact, the statements said that the offer expired in 2009 making it seem to me that I would need to make payments at this time. Of course, this is my mistake for not being more careful, but as the bills were unclear, I got mixed up and got caught.
No interest and no payments works by saying that if you pay off the complete amount of the purchase by a designated time, then you will have no interest payments. But, if you don't pay it all off, all of the interest that would have accrued during the "no interest" period immediately becomes payable.
I began receiving collections calls from HSBC over the amount I owed on the day after those interest payments kicked in for me. I had not opened the statement for that month under the erroneous assumption that no payments were due until 2009. This added nearly $400 dollars to the amount I owed over the previous day. HSBC called 4-5 times per day until I realized my error and paid immediately on the Furniture Row financing site. Unfortunately, the payments did not post immediately and I still received harrassing collection calls. They also posted it to my credit report (the first ding I have ever gotten on my credit), even after I had already told them that the payment was submitted. They also sent a menacing letter in the mail accusing me of having major financial difficulties (with an accompanying offer to help me out with another loan at, I am sure, a terrible interest rate).
This is terrible customer service from a local company, Furniture Row, owned by Barney Vissar. Denver Mattress, Sofa Mart, Oak Express, and Bedroom Expressions are their brands. I take responsibility for not knowing what I signed up for. However, the monthly statements are confusing. Further, the practice of making harrassing collection calls the day that the huge interest hit kicked in, instead of a few days before so I could remedy the situation, and further of making a black mark to my credit report so quickly even after I had said I had paid, is terrible customer service and leaves a very sour taste in my mouth.
I will enjoy sitting on my now overpriced couch, but I will not do business with any Furniture Row companies again. (AND I'll hope for continued poor performance from Furniture Row Racing, the NASCAR team they sponsor, also owned by Barney Vissar)
Am I bitter? You bet.
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13 comments:
Knowing this company well, I know they train their salespeople to be very specific with customers as to what they're signing up for. Plus, all their print ads and contracts are very specific as to what you've signed up for and what the expectations are. Since Furniture Row doesn't handle their own financing, nor do they benefit from it, they really aren't the culprit here. In other words, you need to direct your frustration in the right direction.
As an employee of furniture row, I make sure every customer I speak to understands that interest on same as cash deals accrues from day one, and that if it isn't completely paid off in the zero interest period, the accrued interest goes from deferred to due. For anyone that has anyone confusion about their bill, PLEASE contact the store where you made your purchase. We are more than happy to help clarify. Furthermore, ALWAYS read your monthly statements just to make sure that everything is as it seems. Furniture row is a great company. I invite anyone looking for a great shopping experience to stop in for yourself!
Furniture Row is a great company. you are an idiot for using a credit card if you did not fully understand the terms.
WRONG! In Austin, TX. the sales people at Furniture Row are CLUELESS. I have had to send back multiple pieces of damaged furniture MORE THAN ONCE! They cannot locate my account details when I call, they can't remember to call me when the replacements come in, and they can't even apologize. Biggest group of collective idiots I have ever encountered!!
Wow, I think that is crap! I don't understand how companies believe it is ethical to behave this way with the consumers that keep them in business, irresponsible or not!!!
I want to post a comment about a Furniture Row employee who went out of his way to make our buying experience the best it could be. The Peoria Illinois store has a sales person named Steve who not only informed us of all the benefits of our new bedroom furniture but also followed up with a phone call to alert us of other great deals that happen on a piece by piece basis to help my daughter find affordable furniture for her first one bedroom apartment. His personality and very caring nature will definately bring my friends and family back to see him. Maybe the people writing terrible blogs need to give him a call. When sales people tell you how much they love their company and job like Steve did, it makes me the customer feel great about our purchases. Steve told me to not write the company because good employees are recognized by the company but I just felt compelled to send this in hopes that his bosses will see this and know how much we appreciate him.
I have to say that I'm in the EXACT same situation as the author of this blog. I didn't pay attention and was NOT warned by ANY Furniture Employee; and subsequently I ended up owing $2,972 when my ORIGINAL debt was only $1,200 and change. This experience OPENED my eyes to the world of "GOTCHA'S" and I'm a little bitter but pretty much (financially painfully) over it. But I sure won’t be doing anymore business with these companies.
Amen D...I'm going through that same mess right now. Their correspondence dept. is a joke...they should just shutter themselves in and keep their business in the UK and away from the US.
I too had an issue. I won't go into lengthy details, but the run around I was given was ridiculous and I had to acutally get the FBI involved the fraudulent behavior of the Denver stores.
The government representatives looked into the problems and I was found to be correct and after a year and a half of dealing with them I the incorrect amount of interest that had been applied was corrected. I will NEVER spend money with this company again.
Someone commented that Furniture Row doesn't handle their own financing, therefore that somehow absolves them of any responsibility. As a business owner, I completely disagree. Whom you choose to associate with in business IS your responsibility and as are the consequences of that relationship.
P.S. name calling is not something most adults resort to when trying to make a point, i.e. "idiot"
First experience with Furniture Row/HSBC. 4 yrs no interest on over $3500 purchase. Figured to pay it off in 4 years would need to make minimum payment of $77 per month. Made first payment online thru my bank to hit on the 8th of $100. Somehow they posted my payment on the 14th and hit me with a $39 late payment and $17 in interest!!! Verified with my bank that it was mailed on 5th. WHY did it take until the 14th to process? Called customer service and spoke to someone from India? (At least the accent sounded like that) No budging from them and she could offer no reason for the delay in processing my payment. Insisted that the payment was mailed on the 8th and received on the 14th. If they would have waived the additional fees I would have been okay with that and made any future payments two weeks in advance - lesson learned. But she and her supervisors wouldn't waive it. I cancelled the card and will never shop with Furniture Row or anyone else who uses HSBC for their financing!
Anonymous is a LIAR, I read the contract and it was NOT clear
I am so glad the Feds got invovlved in that denver case.
anonymous employe is a F***ING liar
as the other post sau
they are clueless and write their contracts on purpose to be unclear
i take my business jake jabs
I went through the same thing. I had collection agencies contacting me almost hourly, threatening to take me to court. When I told them what I was paying monthly, the woman said, "Can't you borrow the money from somebody? Like a parent or family member?"...RUDE!.. I then looked up the collection agency and saw online that they are apparently a scam. Not sure if that is the case being as they got my info from Furniture Row, but it's rediculous.
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