BEFORE WE BEGIN...THE LESSON I LEARNED, IS TO BACK AWAY AND SAY NO TO ANY FINANCE OFFERS FROM AMERICANFINCO!!!

I purchased a Rain Soft Water Treatment System from a company called JARGO Group of Companies, LLC, Aqua Squad, 6905 Villa Del Rey Court, Springfield, VA, 22150. The JARGO employee offered me financing through AmericanFINCO, which I was told at the time was a high interest rate of 19.99%. I asked the question, "If I pay off my balance when I receive my first bill, will I be charged interest?" I was told if I paid off the "TOTAL NEW BALANCE" that I would not be charged interest.

I paid my bill before the due date, which was 07/29/2009, and paid the amount indicated in the "TOTAL NEW BALANCE, " which was $4, 990.00, mailed the check on 07/24/2009. NOTE: Six days prior to the due date.

I started receiving calls on 07/29/2009 from AmericanFINCO stating that they had not received my check and thE pay off amount was not the amount that appeared on the bill in the "TOTAL NEW BALANCE." My first question, how did they know how much I wrote my check for and that I owed them additional money if they had not received my payment/check? My second question, why are they holding my check? I was told "that as of the moment I was speaking to them I owed them $60.00 additional for finance charges." I asked "how I could have finance charges if I paid my "TOTAL NEW BALANCE" and mailed the check six days prior to the due date?"

Perhaps AmericanFINCO is holding my check to charge interest on a much larger balance...if AmericanFINCO didn't cash my check and state that American FINCO never received it, perhaps because AmericanFINCO felt it was the incorrect amount?

Here's the math...My "TOTAL NEW BALANCE" appearing on my first and only statement = $4, 990. AmericanFINCO states that I owe an additional $60.00 for finance charges accrued daily between the time I signed up for financing with AmericanFINCO and the time AmericanFINCO receives my check, which they claim not to have received. With a grand total of $5, 050. If they cash my check my "TOTAL NEW BALANCE" would have been $60.00 and the amount of daily interest on $60.00 is a whole lot less then it would be on $5, 050.

I was told many different things:

1. That I owed the amount in the "TOTAL NEW BALANCE" box ($4, 990.00) and the amount in the "TOTAL MINIMUM PAYMENT DUE" box ($100.00), totaling $5, 990.00. Who has ever heard of that???!!!

2. Then I was told that from the day I signed the financing papers until the day AmericanFINCO recieved my payment, I was being charged interest every day. That bit of information was never verbally given to me...even when I asked the question, "If I pay off my balance when I receive my first bill, will I be charged interest?" I was told if I paid off the "TOTAL NEW BALANCE" that I would not be charged interest. In fact, when I asked the question, I apparently was given incorrect information.

3. I confirmed that my current pay off was $5, 050.00. So, one would think, if I mailed them an additional check for $60.00 I would be paid in full. WRONG...I would be charged interest everyday between now and the time AmericanFINCO received my bill. Which would result in still a new "TOTAL NEW BALANCE" for the days between the time I mail the check and the time AmericanFINCO recieves my check. Which would result in a new "TOTAL NEW BALANCE." How convenient, they just keep making money day after day, I guess unless I drive out to Evensville, IN and drop off cash, I will continue to have a "TOTAL NEW BALANCE." It is funny how they never took the time to volunteer any of the specific details that would enable them from collecting funds fraudulently.

I called AmericanFINCO, I proceeded through their phone system...push one for English...push one for account balance...the recording stated that my account balance was $4, 990.00, not 5, 050.00 or any other number. Oddly enough there was no option for "pay off amount." How convenient, everyday that goes by that AmericanFINCO can make it next to impossible for you to know what your "TOTAL NEW BALANCE, " oh no I mean my "pay off, " I sorry, which is it...I is so not clear...which is exactly what they were trying to accomplish. AmericanFINCO's ability to manipulate is quite lucrative, more money in their pockets. Clearly, they have some pretty deep pockets they are fraudulently trying to fill!!!