Sterling Jewelers Inc. Consumer Loan Complaint

Sterling Jewelers Inc. Consumer Loan department,

Installment loan Taking out the loan or lease California

My fianc and I came in to Jared jewelry store and - - told us that he could put a diamond stone on a band they had in store ( which would make the ring custom ) and if I did n't ' like it, I did n't have to keep it as long as I returned it within 30 days. According to their pamphlet, anything custom can not be returned. He lied to us about this. I did n't want to return my ring. I loved it, but I 'm informing you about this to show a pattern. When he talked to us about financing, I told him that I do n't like to finance because I do n't want to pay interest. He said that they had a program right now for 0 % interest for 12 months. He never mentioned a down payment and he stated if we needed a little more time we could go with an 18 month loan that was 0 % for the first 12 months and 9.99 % for the last 6 months. We were at the store for quite some time and - stated it was taking longer because he was


our rings believing we were getting 0 % for 12 months. I received the first bill due -/-/16 but no payment was due on the paper statement. I made an account online because I pay all my bills online. When I did that, it stated I needed to make a payment of $690.00, which I paid by the due date. The amount was about right, in store the calculation was about $700.00 a month. However, when I got the next months statement, it stated I had $270.00 in interest. I called the - number and - at ext - said that I did not have the account for 0 % for 12 months, I had a regular account with an interest rate of 24.99 %. I told her that is not what - told us. She said she could change it to 0 % but my monthly payment would be $1100.00 per month. I told her that I could n't afford that much per month and that - never told us that. She stated she would call - at the store. She came back on the phone and stated - would be calling me because he wanted to handle this since we were his customer. We called - and he told us that he did n't sign us up for the 0 % but that we could change it to 0 % for 12 months for $900.00 and change per month or 18 months, etc. I told - that he did not tell us this in store and he misled us. I hung up. I called Jared - # back and asked to be set up for the 18 month plan. She stated that we would have to put 20 % down in order to do that. I was appalled, - had not informed us of this either. I looked through my paperwork and I was not given a copy of the credit application or any information regarding the credit agreement. On my receipt it merely states reg credit plan. I take responsibility for not reading thoroughly and making sure the verbal information given to us matched the written, but we were misled. Also, when I spoke to -, I told him I just wanted to return the rings. He said I could not because the 30 days had passed. Perhaps that is the reason no bill is due until 60 days after a purchase. It 's not that I do n't want to pay for the rings, it 's just that we were misled with the credit terms. I can email you all the documents I have.