Personal Finance

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a.k.a. GEMB, GE Moneybank, GE Money, CareCredit, Kwik Comfort, JC Penney Credit.

The first thing to do is go to www.complaintsboard.com. Do a search on CareCredit, GEMB of GE Moneybank. You will notice they have a running scam.

1) Their offer is for interest free financing if the balance is paid in full after x-months, usually 24.

2) No matter if you mail in your payments, have autopay from your charge card, or direct debit from your bank account, GE will ALWAYS claim they did not receive your payment, or received your payment late. Why? Then they can add late charges! And of course, your last payment is always lost, therefore “you did not pay-off your balance in the predetermined time frame”. Then they try to collect a huge interest payment effective from the inception date.

3) You cannot contact the company via e-mail; they ignore e-mail.

4) You cannot get a response via snail mail; they ignore your letters.

5) If you are willing to sit on hold for 45-60 minutes, and punch in your account number countless times, you may be able to reach a person with a pulse. In most cases, the employee speaks/understands English, but are not overly bright.

6) Said person will claim your payment was not received, or received late.

In my case, I had electronic records of every payment. I also paid extra every month. When asked that I provide the proof, I faxed copies of the electronic transaction records as well as e-mailed same. Of course, they “never received it” despite the fact that I was holding the FAX confirmation in my hand and looking at the e-mail receipt.

Advice:

If you have entered a contract with these scammers, beg, borrow or steal whatever amount of money you owe them. DO NOT PAY INTEREST OR LATE FEES (unless you actually were late). Send a CERTIFIED CHECK, RETURN RECEIPT REQUESTED FOR THE AMOUNT YOU CHARGED less any payments already made.

If you did direct debit or credit card payments, close the bank account or cancel the credit card IMMEDIATELY AFTER the check has cleared or the withdrawal is posted. They tend to post charge card debits almost immediately.

Check for class-action suits in your area; there are many going on nationwide. Save all your evidence if they come after you. However, they won’t because they would lose; I am telling you from experience. I threatened them with court and was refunded all interest and late fees.

Best of luck to you!

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