This company specializes in targeting young people starting out, and low income families. They will typically charge between 11-20% interest for a loan. If you have the misfortune to deal with these people RUN AWAY!!! RENTING IS BETTER THAN PAYING THESE RATES!! If I knew then what I know now I would have never got mixed up with these jokers! After 8 years paying on a 31k loan I still owe 24k. They are the very definiton of PREDATORY LENDERS! If you read this and still choose to do business with them, you have been warned and you are in for a whole lot of frustration, and wasted money.

WE are also having problems with Vanderbilt, they sent us a letter stating we are in default the first we have heard of it, they stated they sent a letter in November but we never received it or are they just stating this to save their own behinds. Who knows what they write in their files, I asked for a break down of our account the first of last year and never received it, but they state they mailed it, Since they purchased our contract 3 years ago we have had nothing but problems. I say let them have it I would rather live in a tent than deal with them any longer.

I just got a disturbing call from my neighbour. He said, Vanderbilt called and told him to tell me to call immediately, my home payment was past due. They found his number on google. I never gave him as a contact. I was really mad about this. I called an attorney. It's illegal. I started checking into other things. I found out all these years they have been charging me 11.11% interest. My contract reads 10.45%. I don't know how much that means for the past 11 years, but I'm about to find out. I also will never pay my payment on time again. I have joined others in paying my payment on the 29th of every month. They can't do anything. Please everyone, check on your interest rates and your contract interest rates.

Our payments have been drafted from our account biweekly for ten years now and have never been returned. Last month my husband was laid off from work temporarily and I contacted VMF to inform them of this and that the money would probably not be in there when they went to draft the payment until he returned to work. 'Norman' told me that as long as I let them know what was going on they would work with me and advised me to put a stop payment on that amount they draft until he went back to work and I could mail in my payments until everything got worked out and we started receiving unemployment checks.

I kept contacting him and informing him of what was going on and then one day I received a phone call from 'Jeanie Myers' wanting to know what the problem was and when we were going to make the payment. She said Norman turned the account over to her because it was so delinquent (a week and a half late) and she was trying to collect the payment. I explained the situation to her and told her what Norman told me to do and she demanded to know when we would be getting unemployment checks and I explained to her that I had no idea because we had never been through this and we couldn't even call to claim a check until three weeks after he was laid off.

Two weeks after the initially speaking to Norman I contacted VMF and told them I was mailing them a payment and they told me I had to send it Western Union which I found out costs around $20 so I dropped the payment in the mail that day.

I just got a phone call from 'Jeanie' wanting to know if I sent the payment Western Union and I informed her I did not because it costs $20 and right now we couldn't afford any extra expenses such as that. She then raised her voice with me and said that is the price that I have to pay when my payments get so far behind and if she did not recieve the check by this coming Friday she would proceed with foreclosure (although the payment still is not even 30 days late!). She then proceeded to tell me that she 'specifically told me NOT to mail it and to overnight it or Western Union it'. I explained to her once again that my husband just returned to work today and things would be caught up in a few weeks, but that did not matter because she kept threatening with foreclosure on Friday if she did not have a payment.

After hanging up with her I made an online payment to catch up the payment and we are looking into to refinancing at a REAL BANK. Be aware of these people. If you speak to one person and they tell you one thing apparently it doesn't matter and each individual can make their own rules and time limits. This Jeanie lady was extremely rude. I used to work in collections at a bank years ago and I NEVER spoke to customers the way she spoke to me. We were never allowed to raise our voice no matter how delinquent accounts were. I think VMF needs to re-train their employees or hire more professional ones.

I purchased a home from Clayton Homes in 2000. I was 19 years old at the time and newly married. When I went to Clayton Homes I specifically asked for a Land/Home package. They had none. Instead, they showed me brand new homes with tons of 'amenities', including a 'free trip to the Bahamas with every new purchase'. Ha, what a crock. I told them I was interested and they set to work.

My grandfather was leary about the deal and called them to tell them I reconsidered. They called my house and had me in tears as they talked about how I had 'misled them, and how they worked so hard to get me in a new home and now I wasn't interested and how I had really done them wrong.' I am a people pleaser by nature so this really upset me. I told them yes I'd take the home. I DID NOT get my free trip, first of all.

Second, I was told I would have monthly mortgage payments due on the 1st and the 15th of each month, (to make it less expensive this put my payments at 277.00/mth). Apparently this is not how it works. When I was three months behind in my payments because my money was building up in the bank and they weren't withdrawing any funds, I realized something was wrong, so I called. I was informed that the payments come out every 14 days and I didn't have funds in there on the date it was due because it was three days before the 1st.

So, now I'm 19, have three months of negative credit on my report and I asked for a once a month payment instead. I asked them to set my date in the middle of the month. They refused. My payments went up to 314.00/mth and due on the 1st. The representatives were rude, obnoxious, and I got a new rep every time I called. Then at the end of my three years, I received a new bill for 472.00. This was to be by new payment, with escrow insurance. Escrow insurance?

I had no idea what that was. Apparently when I signed my contract, the nice 'gentlemen' who made me cry didn't explain this, so I got saddled with a exorbitant payment I could no longer afford. No one would buy the home because it was not worth what was owed and I couldn't rent it out for the amount of mortgage I had to pay. Needless to say, I voluntarily surrendered the home when I was 23, it did not show on my credit report until I was 26, and now I'm 28 and couldn't finance a bullet if I purchased the gun.

Vanderbilt Mortgage and Clayton Homes are rip off artists and the 'talent' they have working for them should win the Oscar for most efficient salespeople with no concern for others. Congratulations, Vanderbilt for your greatest achievement ever. SCAMMING.