Consumer complaint received 2018-06-25
Company: Conn's, Inc.
State: TX
Product: Payday loan, title loan, or personal loan
Sub-product: Installment loan
Issue: Charged fees or interest you didn't expect

Complaint:
What a mess. We went to Conn 's XXXX store in XXXX, TX to buy a tv. The salesman said he could get my husband approved for 3 years no interest since my husband has an existing Conn 's acct. The salesman came back & said that my husband was not approved but to add me to the application. I told him numerous times my credit was not good and that I thought it was a waste of time. He said no lets add you because they usually approve apps with 2 incomes. so I said ok, gave him my drivers license and he added my info to the application. The next thing he tells us is " Boom You all got approved '' So I was under the impression with both of us on the loan we were approved for 3 years no interest. The salesman tells us we have credit line of {$6900.00}. He says its better to buy everything you need now then to wait, buy 1 item and then pay it off, come back and buy the rest once your 1st item is paid off because sometimes you don't get approved. I thought okay we need a bed, its not an emergency, but we need one. We believed that we were on the 3 years no interest loan. AT NO TIME DID OUR SALESMAN EVER DISCLOSE OUR INTEREST RATE OR FEES. He said " I got your payments at {$340.00} '' I said okay, still thinking we were at a 3 year no interest loan. The salesman handed me a blank pad to initial. I added my initials 3 times. he never explained what I was signing. Salesman said I was able to add on extended warranty for {$340.00}. I said okay, thinking I would see the papers once we were thru signing. THAT NEVER HAPPENED> HE TOLD ME CONNS would email paperwork to us. I thought okay, weird, I've never bought anything without seeing the paperwork and having everything that we are buying explained to us but OK. Salesman said TV & Bed would be delivered next day. 
We left and when I got home checked our email. Salesman had included in our loan, 48 month extended warranty, Furniture Guard warranty, Credit life and/or Property Protection Insurance without ever telling us how much these would cost. Then I saw the interest rate for what we had bought. It was over 24 % APR. I WOULD NEVER HAVE BOUGHT THESE ITEMS IF I KNEW THAT WE COULD NOT GET AT LEAST 1 YEAR NO INTEREST. My husband existing acct was for 1 year no interest. It had been a year and we were ready to buy another item with the same terms ( 1 year no interest ). 
SO THIS IS A BIG RIP OFF! Also I called salesman next day, I said why did you add all that stuff on, you never told me anything about it. Didn't get our approval. and I thought we were getting 0 % interest for 3 years. Then he said just send me proof of homeowners policy and I'll have credit life & property insurance removed. So I did, I had to call my insurance agent and ask for a copy. I forward declaration to salesman by email expecting him to remove all those coverages we never consented to. he said okay, I will fax these over. I NEVER HEARD BACK FROM HIM CONFIRMING HE CANCELLED EXTRA INSURANCE we didn't consent to. I called on Sat XX/XX/23 evening to CONNS customers service to confirm that they received cancellation of all the extra stuff we never consented to and they said NO, " Im sorry salesman never sent over your insurance policy or cancellation. Even though I have emails to him and talked to him on the phone asking him 3x to cancel all that stuff. I AM SO UPSET. THey are ripping off people it is not right.

Company response to consumer: Closed with explanation