Merchants Acceptance Corporation
Client Reviews on Merchants Acceptance Corporation
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Worst loan company i have ever dealt with! i am ahead 7 payments and they switched when my payments which made my account go negative multiple times. They have the worst customer service ever!
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No problems at all for the life of my loan. Thanks to their monthly reporting and lifestyle changes that I made, I have a respectable credit score now, and have gone from needing a cosigner on the loan - I had a car salesman laugh at me not too long ago - to being prequalified to purchase a house. Not bad for a couple of years. Having my loan serviced by Merchants Acceptance Corporation was a step in the right direction toward getting my life on track and getting my credit score moving in the right direction. I had done stupid things with money, and a high interest rate was the price I had to pay to fix that. Sure, they made some pretty good money off of me, but they also did me a great service. Paying every penny of their profit margin was worth it to me.But for those who have a problem with them making a profit off of people like me, there is an option: Don't do business with them.But when you need to get turned around, find a company whose loans they service, and get the loan. Know that you'll spend some time paying for the value of the item you're buying, and for the value of renting money.Because that's what it is.
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RIP OFF!!!!
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DON’T FIANACE WITH THIS COMPANY. HORRIBLE CUSTOMER SERVICE! BIGGEST REGRET EVER!
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Buyer BEWARE!:Company is big on PREDATORY Lending and practices.They DO NOT send out monthly statements or invoices of any kind updating and informing customer of his/her balance(s). Their website is very limited and poorly designed. Customers are unable to create any kind of customer account to track payments, account activity, etc. It is designed to take your payment without providing you with any kind of updated balance or account information. They advertise and cleverly reel you in with a “Same As Cash” promotion of 12 months BUT mail you a payment booklet with a payment amount and due date listed which, if followed, would take the customer well past the 12 month “same as cash“ promotion. In other words, their fine print is not only MISLEADING but intentionally designed for the customer to pay more than he/she originally agreed upon.When calling customer service, be prepared to deal with representatives who don’t care and want to quickly get you off the phone. They are vague and only respond with the same answers listed on their website which, in my opinion, is horrible.Think of a website designed for a business in the late 1900s, when those were just coming in to existence. You know, when businesses were taking to the this thing called the Internet to advertise and possibly sell their products. You get the idea.Put another way: DO NOT expect to view your account activity, make payments, etc. via any type of smart phone app. :(After getting nowhere with the representative, I asked for a supervisor. At this point, they are trained to not transfer you unless you give them a specific reason. A back-and-forth ensues which provides you with an even clearer picture of the type of company this is.When I was able to finally get a supervisor on the line, I requested from him the same. A monthly statement of sorts updating/informing me on my business activities with them. You know, that piece of paper or mailing you get from ANY legitimate company you’ve EVER done business with. The type that is sometimes considered junk mail because you’re able to track this type of thing online. That one.This gentleman proceeds to tell me the same thing his representative said. They do not provide monthly statements unless requested by the customer. The customer has to call in every month and request this.At this point, I’ve had enough. I informed him that I would be forwarding this matter to my attorneys and that I was done with the phone call. He quickly put me on hold for several minutes, came back and told me that he was able to initiate and set a monthly statement to be mailed out to me reflecting my balances, payment history, etc.Soo, Should I expect one? And the gym at one, at that? I’m not holding my breath.BUYERS:If doing business with any kind of retail establishment or salesman who have MERCHANTS ACCEPTANCE CORP. listed as their Finance Department/Lender, RUN!DO NOT give these people your business!!
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A bunch of scammers! They don't even deserve 1 star, my ex boyfriend purchased a kirby vacuum through this company while I was at work! I didn't even know my name was on it until I started being garnished. I never received one call, email or letter that I was going to be responsible for the bill they didn't even give me chance to work with them. I'm a single mother of two barley getting by and I've left several voicemails about my situation to their legal department because they won't answer and they won't call me back . The way this company does business is immoral. BEWARE!
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Absolutely the worst customer service and experience working with a company. They are horrible. Predatory disgusting company. Do not give these people your business.
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John who is a manager with them was extremely helpful and after hearing my situation was nice enough to waive some fees that were due to fraudulent activity on my account. He replied to my email within an hour and spent time over the phone to help me resolve the issue and get everything back on track.
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I wish I could give them negative stars. I wish I had read the reveiws. Overcharging me 700$ that's not in "the contract". If anyone cares to get into class action let me know. Don't do business with thease shady people!
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Merchants Acceptance is nothing but a money-hungry business. I was unfortunately roped into purchasing a product from a family member that needed to make a sale within a timely manner for a promotion, but little did I know that my $1700 loan would turn into $3800 due to EXTREME interest rates and outrageous 'fees'. I'm making double payments a month to avoid the high interest rates and fees, but nothing is getting me ahead. Their customer service is decent, but not 100% reliable, especially when you need to schedule a late-payment. Long story short- DO NOT let them loan you money, it will be the worst mistake you've ever made.
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