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.
