So I was approved for a $3,100 dollar loan over 24 months. After I signed and waived the insurance he told me that it was now over 12 months. (Bait and Switch). Under law taking the insurance is not mandatory but Easy Financial drops their term loans if you don't. I didn't take it.
They then put the loan on a Epic MasterCard which they claim is independent. While Epic MasterCard is own by Peoples Trust--Easy Financial is conjoined with Peoples Trust.
Easy Home charged 49.95 activation fee then Epic turned around and charge 6.95 activation fee 7 days later. Then Epic charges 0.50 cents signature fee (illegal) as it was their request.
This loan ended up being $2900 some $200 less than the contract stated and with the added fees, surcharges the interest rate of 49% increase to over 60% which is contract to the Criminal Code.
Now Easy Financial has called 27 times in 9 days which is contrary to law. The law states any collecting can only call between 7am-8pm and 3 times in a 7 day period.
Upon further research the courts have cited Easy Financial has violated the 3 tier standards of practice thus the courts have opted to lower interest rate to the Court Rates (about 3%) award the debtor $1000-$1500 in damages. (see CanII)
As I read the various complaints I was astonish that customer service was the primary issue which I couldn't agree more. While I understand peoples frustration I do have to recognize that Easy Financial does provide a service to those in need. With that said...Easy Financial really!
Act professional and work with clients as you will never get blood out of a stone. Perhaps common courtesy to work with people rather than harassing them and threatening them to bruise there credit would get what everyone wants...resolution.
In any event I have for sure not paying and I look forward to seeing them in court.
Product or Service Mentioned: Easyfinancial Loan.