Consumer complaint received 2024-07-27 00:00:00
Product: Credit card — Store credit card
Issue: Advertising and marketing, including promotional offers — Didn't receive advertised or promotional terms
Company: TD BANK US HOLDING COMPANY
State: NJ

Complaint narrative:
Sir/Madam : I hope this long message finds you well. 

In XXXX 2022, I went to a Raymour and Flanigan retail store, in XXXX, New Jersey because I wanted to help my mother furnish her townhouse, which she had just gotten back from a terrible tenant. For the past few years, she had been renting her townhouse to a tenant who destroyed the property and refused to leave. My mother had to not only involve the court to get rid of the tenant, but she had to spend XXXX  of dollars to fix the house after the tenant left. This is why I volunteered to help get the furniture. 

Once at Raymour and Flanigan, because I did not have the cash upfront, I applied for the finance free loan, and I was approved for an 18-month of finance free promotion. I made it clear to the sales associate that because I was buying few pieces, I will need more than 18 months of finance free period to be able to pay off the loan. The sales associate, whose name was XXXX, promised me that he would get the permission to extend that finance free promotion to a minimum of 24-month period. So, I accepted the offer, understanding that the interest free promotion would be extended to at least 24 months, giving enough time to pay off the debt. That did not happen. 

Within a week, I called the store to remind the sales associate that I was waiting on him to extend the finance free period, as he had promised, but to my utter surprise, XXXX was no longer employed by Raymour and Flanigan. I explained my situation to the person I spoke to on that day, and asked that the store honors what XXXX had promised as that was the only reason I decided to buy furniture from Raymour and Flanigan. Had it not been for the understanding that I would be given at least 24-month of interest free payments, I would have never bought the furniture from Raymour and Flanigan. Without any hesitation, I would have gone to any of the countless other furniture stores as I was quite sure I would find no problem getting longer finance free promotional periods. For one, I possessed an excellent credit score for never missing a payment, among other factors that produce a great credit history. For two, I knew I would need few pieces of furniture, so there is a great chance that I would be getting a significantly longer finance free promotional period. Nevertheless, I never heard back from any Raymour and Flanigan representative. 

Not imaging for a second the nightmare that I am currently going through with this loan, I put the matter in the back of my head and just continued making payments on the loan. Fast forward to XXXX of the year, as the 18-month interest free promotion was nearing its end, I wrote a letter addressed to the C.E.O. Of Raymour and Flanigan, explaining the circumstances of the loan, then pleaded to be given enough time to pay off the amount before interest charges are added to the balance of the loan. I never heard a response from Raymour and Flanigan corporate office. Then, with a few online searches, I managed to find the email of the C.E.O. of the retain giant, prompting me to email him directly. Again, I heard no response. 

Lastly, in XXXX of this year, with clear certainty that Raymour and Flanigan will not do anything to address this stressful situation, I wrote a letter addressed to the C.E.O. of T.D. Bank, the loan servicer of the Raymour and Flanigan retail credit line, explaining the nightmare I found myself. I did hear a response from the corporate office of T.D. Bank, however, if I was under any illusion that the bank would do right by me, I was completely wrong. The bank responded by was saying that they have reached out to Raymour and Flanigan, and according to the retail store, they are not aware of any promises made to me to extend the finance free promotion to more than 18-month. As a result, T.D. will not do anything to rectify this situation. 

As of today, not only has T.D. Bank added close to {$800.00} of interest charges on the prior remaining balance of less than {$1300.00} as of XXXX of this year, but I am learning, per the most recent statement, the balance will continue to incur additional interest charges. The initial total balance was between {$2500.00} to {$2600.00} when I opened the account in XXXX  2022. For an initial loan amount of no more than {$2600.00}, T.D. Bank has already added close to {$800.00} interest charges, and the bank expect me to accept that this predatory practice should be legal, giving them right to continue racking up interest charges on the account, as long as there is a remaining balace. This is absurd in every conceivable way. That is why I am now looking for help. I have to see if there is anything I can do to fight against these greedy corporations that have no shame abusing vulnerable consumers like me. 

Thank you for your time and patience.

Company response to consumer: Closed with explanation