Unethical Business Practices

Q: Are you a VICTIM of Associates Home Equity? Do you suspect that you're being taken advantage of? Do you suspect that you have been lied to? Do you suspect Associates Home Equity of consumer fraud or some kind of unethical business practices towards consumers?

A: Associates Home Equity is a horrible company to do business with. I had a property where they purchased my existing loan. Since my loan had a pre-payment penalty (except when the property was sold), I ended up having to sell the property to get rid of Associates. I had credit card problems with them in the past, and I would have never taken this loan if I had known in advance that it would be sold to them. Things that Associates did - + charged me late fees despite having my payment in on time, and having proof from my bank that my payment was in on time + refused to answer any type of questions on the phone, they always gave me the line that "we need to refer that to unerwriting and it will take 3 to 6 weeks" + refused to provide a payoff balance to my closing company until their legal staff became involved + charged me a $1500 prepayment fee despite very clear language on my note that said the penalty didn't apply when the property was sold + charged me 71 days of per-diem interest at closing despite me being fully paid up and the closing date and time were clearly established Do anything you can to avoid doing business with Associates Home Equity or their parent Associates National Bank.

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