Preferred Credit

I was not late on a payment, yet they kept reporting it as late and when I challenged it, they kept moving the late date around. At seven years, it should drop off promptly.

Preferred Credit failed to address the fact that they never provided a completed copy of the contract, and the timeline they provided was inaccurate. After the links expired, I reached out for assistance, but there was no option to request a new link. I was informed by their partner, Neo Development, that they were also unable to access my account. They explained that the option to generate a new link wasn't available and suggested it needed to be escalated due to a possible technical issue on their end.

I reached out because I couldn't access my documents due to the expired links, and contrary to what they had stated, there was no option to obtain a new one. Neo Development later sent me the completed contract, but only after we both experienced these issues. However, they did not take responsibility for the technical problem with DocuSign. Neo Development also made it clear that this issue was not my fault and needed to be escalated.

I still feel my rights were violated, and because the case was closed based on false information, I'm left without any protection. It feels like the system is designed to benefit them, not the consumer. I strongly advise others to avoid this type of financing, as consumers seem to have no protection in these situations. It's clear that Preferred Credit and Neo Development are taking advantage of older consumers, many of whom are unaware of what is really happening.

This is a very abusive company; their customer service is extremely poor. If the payment does not come out of the account for some reason, they charge a $70 surcharge. My payment is $111.40, and they charge more than a 60% surcharge. It is a company that does not care, sending threatening letters. It is a company that should be investigated for consumer abuse.

Horrible experience! Would not recommend for financing. They created a billing issue with autopay and didn't debit my account one month, then reported me for late payments for four consecutive months. I have disputed it, but to no avail at this time.

This is the WORST finance company know to man, outrageous finance fees that aren't made aware to you during the financing process the vacuum I purchased was 3,000 dollars after it's all said and done, I would have paid over 5,100 for a vacuum I could have purchased on Amazon for thousands of dollars cheaper, take my advice and don't EVER finance anything through this company, it's a HARD money loan, search out different options

Absolutely terrible customer service and clearly does not care about the customer. In August I requested a payoff quote in which I paid immediately that same day but was not drafted for 2 days after and now apparently I have a balance still which I didn't know about as I thought I was paid in full and they will not go back and fix it. Clearly their was a misunderstanding and they are not willing to work with me and correct it. They are 100% crooks. I will NEVER do business with them ever again

Horrible experience. Was told I would avoid a charge off if payments began. I pay monthly and it was charged off anyway. Still making auto payments each month and it’s ruined my credit score. This is predatory lending!! My next report will be to the BBB.

BEWARE BEWARE BEWARE
Worst credit company ever. (I got the stupid vaccuum) They charged me NSF fees all through covid in 2020 while I was laid off, on top of the bank NSF fees, wouldn't stop charging my account - offered to skip 2 payments, that's it - meanwhile my 40 thousand dollar truck loan didn't take payments for an entire year due to covid. I have paid off the vacuum in full, but still owe like 800 dollars in "fees" because of "missed payments" while I was literally not working.. They will not negotiate, I've called several times to ask them to at least cut it in half or something, anything to work with me.. I was met with unnecessary attitude and absolutely no budging, and being told I "could've asked them to stop taking payments" - which WAS NOT offered to me when I'd called to literally ask them to stop charging me because I wasn't working. I have been nothing but honest and polite with them and they have been so unforgiving. I am in good standing with every single other loan I had at that time, I've paid everything off besides my truck, every company offered a ton of grace while I was laid off besides them.
They do "in house collections" though, so, the plus to that is that it doesn't look as bad on your credit report, it doesn't turn into a derogatory mark.. but it will still slow down credit ratings from going up from "missing payments", as I have refused to pay another penny. My credit score is still going up because of my truck, but it could definitely be going a bit faster.
This company is ridiculous, do not finance anything through them!!!!!!!!

Equipment for this company was return and and I shouldn’t have anything on my credit report. I will be working on getting this off of my credit report.

I wanted to return this item because of health issues and i have not used it since i got it i asked could i return it and told them ny problem the lady i spoke with says i cant return it because a contract was signed i wrote them a letter also but i havent heard back from them yet.

I fell for the magic vacuum deal. It’s cool. Not worth the money but I did get approved quickly which is always a nice thing…..hehe

this is fraudulent account on my credit report how do I get it off my report how do I talk to some one about this fraudulent account no one will talk to me on a recorded line because they know this is fake and it is a scram

This company will work with you as long as you communicate and follow through on any reasonable arrangements. Being upfront and honest with them goes a long way if you get in a bind.

The absolute worse financing company to roam the free world. They offer you website services to make payments and setup auto-draft. What they do not tell you is is you switch banks and setup auto draft on the website YOU STILL HAVE TO CALL AND CANCEL BY PHONE! The most asinine thing I have ever experience. You will find out when they try to auto-draft out of 2 different banks and one is closed and they give you an NSF fee. Nevermind that you changed it in the web portal. No, you have to do extra work and call them as their systems obviously don't synch up.
With that said. I have had the displeasure of working with them for financing clients water systems and they absolutely are the bottom of the barrel when it comes to financing your customers. Now I can see why people get bad scores from them. They can't even take payments properly without being told, hey dummy, we changed banks or we don't want to take it out of that account anymore. If you don't tell them they will take it out of BOTH accounts.
I have never had this much displeasure with a finance company.

I was approved for this card to to be able to purchase items for my kitchen. The customer service person I spoke to was very courteous. I have my monthly payment automatically withdrawn from my checking account. So far so good!