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I had a very unfortunate account with zibby.com. I purchased merchandise totaling $416.00 and i paid via auto deduction from my checking account monthly. I even paid extra one month so by the time the 90 days came up my account would have been paid in full. Today, august 16th i received notification that another payment was due and i was surprised as i paid off the account in full last month.
I had to pay an additional $202.44 with a credit card as they said i was one day late in making my payment. So for a $416.00 loan, i paid $618.44 which is a disgrace. I was not aware that this is how the program worked, and i made sure that i paid extra in advance so that when the 90 days were up, the account would have been paid in full.
I will find a way to take this company to court due to their fraudulent loan practices. I will make consumers aware of the injustice served and to never use this organization ever again, until they learn to deal honestly with the public.
I had a very unfortunate account with Zibby.com. I purchased merchandise totaling $416.00 and I paid via auto deduction from my checking account monthly. I even paid extra one month so by the time the 90 days came up my account would have been paid in full. Today, August 16th I received notification that another payment was due and I was surprised as I paid off the account in full last month.
I had to pay an additional $202.44 with a credit card as they said I was one day late in making my payment. So for a $416.00 loan, I paid $618.44 which is a disgrace. I was not aware that this is how the program worked, and I made sure that I paid extra in advance so that when the 90 days were up, the account would have been paid in full.
I will find a way to take this company to court due to their fraudulent loan practices. I will make consumers aware of the injustice served and to never use this organization ever again, until they learn to deal honestly with the public
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It's right there in the disclosure agreement... I purchased a ghost bed for $795 through zibby, with payments of 132.50 over 12 months... simple math would tell you you'd be paying double if you went full term without buy out. Best way to buy with them is to purchase something until it is down to a buy out price you can afford then buying the property outright.
They are not fraudulent, you just skipped over the agreement and clicked yes without reading something... you'd lose whatever court case you'd have, that is if you even got a lawyer to take the case.
Anthony Klarich, what do you mean by until it is down to a buy out price.
Hate to tell you this but they are fraudulent. I’m assuming you work for them. I understand they are a business but when you are given every single reason why they can’t take a payment to pay off the merchandise within the 90days and then one day past due because the last 4 times you tried were unsuccessful something seems fishy. You sound JUST like them :)
I’m sure this will be a class action later on down the road. Even if it’s in the contract ...everyone knows that doesn’t make it legal.
I am actually going through a very fraudulent situation with them right now and would be happy to go to court with you! I was first going to use them to purchase my items from Wayfair, it was a large purchase so I didn't want to pay it all out of pocket. I ended up not using Zibby and purchased the items directly from Wayfair. Now a year later they have sent me to collection for the full amount of my order even though I paid Wayfair direct. They pulled unauthorized money from my account two month in a row and now say I have to deal with the collection agency directly to get my money back and to clear up the account along with my credit. This is the WORST customer service I have ever experienced! Wayfair has been great and the Representative Cindy was very helpful in trying to clear the situation up. She was on the phone with me for over an hour talking to Zibby to let them know I paid them direct. I will also be looking into contacting a lawyer regarding this situation. I have all the documentation and proof! NEVER EVER USE THIS COMPANY!
That is how leasing companies make their income. It is about double which is actually lower than many companies out there. Unitl a person's credit is good enough to qualify for financing options at 19.99% APR, leasing is an option. Yes it costs more if you do not take advantage of 90 days same as cash. It is much better than getting a payday loan or a high interest bad credit installment loan. Many of their APR rates are 500%, These companies are taking a huge risk, because many people with bad credit will default or not pay. I understand being frustrated, Cancer treatment caused me to lose a whole year of pay and have over $50 thousand in medical bills after the insurance paid $256, 000 for my advanced cancer treatment. I had to do a chapter 13, which I paid in full and it was successfully discharged 8 months ago. Even though I have built my credit score back up to 650, my history of bankruptcy makes many companies instantly reject my application. Most companies require a year to two years wait after bankrupty, no matter your credit score and income. If you need a major purchase this option is available. I used this to purchase furniture. Yes I eventually paid off my amount early but still paid almost double. It sucks, but that is the way it works,
These companies have to make money, and make up for the monetary losses from those who default. It is frustrating, but it is not illegal and is explained in the terms. If you borrow money from any company you will end up paying more than you borrowed. Most credit cards you end up paying double or more since the APR rate is calculated monthly. If you want to pay exactly what you borrowed you must pay it back before 90 days, or borrow money from a friend or relative. I too am having to suffer through this unitl I build my credit up and my time post bankruptcy is over, but when I needed a new laptop, I HAD to have one. This option is much better than going without, which is not possible since I use for my work at home.
I continue to work on building my credit a bit at a time, and if I need to use the lease option, I try and pay extra every month towards the principal, or actual price if I cannot pay off in 90 days. I for one am glad this option is available or I would not be typing right now, ,
I received a laptop for a certain amount, and in the six months that I have been dealing with this company, I've never missed a payment, yet my account status always says I'm past due, and last month, they took an additional month's payment from my bank account because of this error. I've been told numerous times that tech will look into my account, but it still says I'm past due. I have never dealt with a company this dysfunctional before, and will never deal with them again. DO NOT use them. They have no clue what they are doing and will drain your bank account.
On Month X 2017, I purchased a refrigerator from sears through Zibby and when the item was purchased I included a 5 year master warranty protection. Since December of 2018, I have an issue with the refrigerator that required the refrigerator to be checked by a technician. When contacted Sears, Sears had no records of any warranty purchased. When contacted Zibby, Zibby stated that they contacted Sears and stated the following "It was a pleasure speaking with you today. We have confirmed with Sears that the following item 72009 22 cu. ft. 33" French-Door Bottom-Freezer Refrigerator w/Internal Dispenser - Black model number 0XXXXXX, is under a 5 year In-Home Master Plan as of 99/99/2017. The reference number for the warranty is XXXXXXX. I hope this helps! " Then they stated "The phone number we contacted Sears on 04/17/2019 was [protected] we spoke to Bobby and Julian. I will make sure someone gets to this quickly!" I contacted sears with the reference number given by Zibby and accroding to sears they have records of the purchase items but there is no records of any warranty being purchased. After much argument with Zibby regarding this matter, and since there is no records of any purchased warranty that I fully paid for plus tax and interest, I requested that money taken fro a bogus warranty be returned including tax and interest charged. Zibby has refused to refund money charged to me for what appears to be a fraudulent charged on their behalf.
Ms. White is correct. She should not have over 150% of the cost of the merchandise IF she paid in full within 90 DAYS. It’s in the contract. If you pay in full within 90 days they only add 5% of the cost to the merchandise along with your taxes. She should have paid the merchandise cost of $416.00 + $20.80 (for the 5% of merchandise cost), plus state sales tax. You don’t pay those high lease fees if you do early pay off on or before the 90th day from when you purchased merchandise.
The total purchase price of my items is $499.94. Zibby is charging me $2165.80! With the 11 payments I have made I have already paid for the purchase of the items but they are saying I still owe 15 more payments. This seems criminal for sure. There has to at least be an interest rate cap.