KRW Associates - "Financing" Nightmare
Update by user Dec 05, 2016
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 ***
Original review posted by user Dec 03, 2016
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 son’s presents, I also liked Xidax’s 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 Xidax’s finance partner, KRW Associates.
I received a Truth-In-Lending from KRW stating the terms… $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 weren’t. I really should’ve 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.
Ok… 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/month… THEN 12-month financing of $56.34/month for an additional 12 months. Umm… no they weren’t. 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 it…. 12/2/16 - Low and behold… 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 company… 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 bill… Long story short… Buyer Beware when financing anything through KRW Associates… be on the lookout for bait-and-switch tactics and unscrupulous business practices… and what may turn out to be illegal collection activity and bank fraud.Here’s wishing all (except for the crooked reps at KRW) a Happy Holiday!
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