C/C Financial Consumer Loan Complaint

C/C Financial Consumer Loan department,

Installment loan Managing the loan or lease Texas

On - -, -, I purchased a mattress and box springs from the - - in -, Texas. They had signs all over the store saying " 90 days interest free. '' When I asked the salesman about it, he told me that they had several sources for loans with 90 days no interest. He submitted my application and told me I was approved. He printed out the contract with the loan company, Merchants Preferred. The contract was - or - pages long and I just had to initial - page and sign the last page and the Sales Receipt. The price for the bed was $490.00. He told me several times that there would be no interest until the 90 days was up, and that at that time, if I had not paid the bed off, that the interest would be pretty high. He turned the pages quickly, as he commented on what a certain page was telling me, and I signed it. He also said, " Just because you are paying $41.00 every 2 weeks does not mean it will be paid off at the end of the 90 days. '' I laughed and said, well I would


my exact pay-off in -, I was told it was over $400.00. I could not believe it. I said, but I 've paid over $200.00 on this bed already. According to my calculations, I would have owed $290.00 on - -, -. It was then that I told the representative from Merchant 's Preferred that the salesman never said anything to me about interest being charged during the 90 days. What she told me was that for the first 30 days, the interest is 5 % and then each 30 days it goes up. I think I was not given all the facts about the loan, and I feel like I have been taken advantage of. I am a single woman and live alone, and I do n't have this kind of money to throw away. Is there anything you can do to help me?