Krw Associates - "Financing" Nightmare
12/5/16 - Didn't hear from KRW all weekend, but received another phone call saying that the account was past due and telling me to call them. When I called the number they provided, it goes straight to voicemail.
Very aggravated right now... this is beyond ***
11/27/16 - My computer finally died, so I decided to shop around for a new gaming rig. I came across Xidax computers and liked what I saw.
Since it is Christmas and my wife and I are in the process of buying our sonโs presents, I also liked Xidaxโs financing options. I thought, finance it now and pay it off in a couple of months. At first, everything seemed to be going smoothly. I was told I was approved for financing through Xidaxโs finance partner, KRW Associates.
I received a Truth-In-Lending from KRW stating the termsโฆ $56.34 per month for 12 months with a 16% APR; first payment due on 12/28/16. I accepted the offer and assumed that all I needed to do now was wait for the computer to be built and shipped. 11/28/16 - I received a call requesting my bank account information. I expressed some concern over that but was assured, repeatedly, that it was JUST for verification purposes.
I informed them that I was NOT interested in setting-up any sort of auto-debit and was promised that they werenโt. I really shouldโve listened to my gut. 12/1/16 - I received a confirmation email. KRW was confirming that they have my first payment of $70.92 scheduled to be auto-debited from my account on 1/13/17 (they were even nice enough to provide the last four numbers of my account #).
They were also confirming that, after 21 payments have been made, I will own the computer that I am LEASING. Uh.. what?!?! I called KRW and was informed, by a very rude gentleman, that the email I had just received was wrong.
Okโฆ I already knew that. He proceeded to tell me that the actual terms that I agreed to, in writing, was a 12-month lease of $70.92/monthโฆ THEN 12-month financing of $56.34/month for an additional 12 months. Ummโฆ no they werenโt. After a few choice words to the KRW rep, I told him where he could shove their financing.
As soon as I hung up with KRW, I called Xidax and let them know that I wished to cancel the order. I explained what had just transpired with KRW and told the rep that, due to their seemingly shady practices, I had no interest in financing through them. The rep explained they had just started doing business with KRW, so he would have to do some digging to get to the bottom of it. He agreed to cancel the order and to inform KRW.
I thought that would be the end of itโฆ. 12/2/16 - Low and beholdโฆ I received a nice email from Mr. William Over, the collections assistant at KRW, with the heading DEMAND FOR PAYMENT. In the email, it states that I entered into a LEGALLY BINDING agreement and that my payment that was due on 12/2/16 had not been received and they were charging me a $25 late fee.
They also threatened to take additional action should they not receive the payment within 30 days. When I try to call them back, it goes straight to voicemail. In less than an hour, I received 2 emails and 2 collection calls from this companyโฆ On financing that was never accepted for a computer that was never built.
Good thing I have printed and saved the emails, and have answered the collection calls so that they show up on my cell phone billโฆ Long story shortโฆ Buyer Beware when financing anything through KRW Associatesโฆ be on the lookout for bait-and-switch tactics and unscrupulous business practicesโฆ and what may turn out to be illegal collection activity and bank fraud. Hereโs wishing all (except for the crooked reps at KRW) a Happy Holiday!
Reason of review: Not as described/ advertised.
Thank You for Your Reply! We are processing your message.
Comments
Please avoid publishing any personal information and promotional content
Bait and switch, same thing happened to me regarding a hospital bed.
Is nobody taking action against this company?!?!? I need help as I am being ripped off and donโt have the money to pay these rediculous payments that I was not made aware of.....Help!!!
I have the same problem, they were charging us a monthly lease and didn't even tell us it was a lease until after we were making payments, Big Toy Superstore, Hickory NC said we have a financial bank we can use so we said ok thinking it was a conventional loan even when we signed the agreement we were told the payments would be x amount for 1 year and the payments dropped to x amount after 1 year we were so excited and signed the contract not knowing it was a lease, here is my deal purchase price is 3,935 lease payments at 312.33 per month total 3,747.96 for 1 year OK now after 1 year the payments drop to 248.33 for 1 year total 2,979.96 for a grand total of 6,727.92 and that's supposed to be at 10% finance charge according to the lease agreement, wow and all for a 3,935 dollar purchase its highway robbery and the people need to know this anyone in their right minds would not agree to those terms, BEWARE BEWARE BEWARE of KRW and Associates Cornelius NC and Big Toy Superstore Hickory NC will legally rob U
please if yoi have any incendent with krw associates financing i will like to hear from you i want to put a case together bc of them false abretising and leasing program. my email is gallet88.cc@***.com
I have a lease with then for my son's dirt bike and they never told me it was a lease and I told them to stop taking payments out of my acct and they keep on doing it.
Hi, I also was ripped off by KRW associates ... I ordered a wheelchair paid it off completely for what it had been advertised.
then KRW said oh you oh us 500.00 something more. the wheelchair was 799 at Spin life.
How do you even get should of KRW.....they never even contacted me? And I can't find them on the internet.
I have their number it's 186*-***-****
I just got approved through krw but no where did I see that I was gonna lease this item for 12 months and then pay for another 12 months for a loan...I agreed to pay $600 for this not over $1000....I don't understand....So glad I caught this right away and closed my bank account and went straight to BB bureau...Of course noone answers the phone or answers your email....Please be VERY SCARED OF THIS COMPANY...
I don't care what anyone says, wether you signed on the dotted line or not. Even Aaron's or Rent a Center or Leaseville has a better deal than that.
You lease an item and make those payments and after that lease, the item is yours. KRW leases the item and you would still have to return the item after your lease is over with even if you made 24 months worth of payments.
If you want to keep the item longer, you have to make loan payments to them. HIGHWAY ROBBERY if you ask me.