Merchants Preferred lease-purchase services

This is the worst thing I could have done which was purchase furniture on a payment plan. I did that a few years ago and when I was in a bad financial shape they refused to make payment arrangements or even defer the payment for a while until I was back on my feet. Fast forward to now I am in much of a better financial position to make payments to officially pay off the account and I cant get anyone on the line. I have called several times over the course of 2 weeks and each and every single time I am told they are having technical difficulties and to try calling back later. The line would then disconnect, I even filled out the contact us form on their website and still have not heard back from anyone pertaining to my account. Best advice I can tell people is to simply stack your money and purchase your furniture outright. Dont do furniture financing because these things such as Merchant Preferred are particularly predatory financing options to those in low income areas. They offer you a lot of money upfront to purchase what you need but in the end you end up paying twice as much for the furniture through the contract.
Jan 23rd, 2022

I had my account set up for auto pay for over a year to build my credit. Eventually I paid off my account, I was still billed so I called an agent at Preferred Lease and they said they would have to manually close my account for me because they refunded me for an autopay after my balance was paid out, and because of this my account was re-opened. I never received an email stating my account was closed or any sort of letter assuring me it would be closed. Sure enough a month after it was closed I received an email saying I was late on my payment and theyd be reporting it to the Credit Bureaus if I continued to be delinquent. I called and the first agent I spoke to said I would have to wait until the following Tuesday for them to close my account. To this I agreed because what choice did I have? I started reading reviews where people have had the same issue in closing an account. This gave me anxiety because My credit is good and I did not want to jeopardize it over something Ive paid off already. As anyone probably would I gave them a call back and spoke with another agent who instantly resolved the problem for me. She spoke to her supervisor, which the first agent did not even do to begin with as she stated there would be no one to close the account until Tuesday. Long story short, The second agent who helped me said her supervisor agreed to close the account and provided me with a Letter of Completion stating my account has been paid off in full and I will no longer be billed for the account. Thank you for being so helpful and resolving it for me after multiple failed attempts at closing my account. I advise if you plan on financing with the company to just know what youre being charged for and keep track of your emails and account with them, keep records and when you are paying your account off make sure to call them so you can ensure that your account is Closed! Preferred Lease, thank you!
Dec 30th, 2021

I literally was on the call with a representative for 30 minutes trying to make a payment. Nothing was resolved. A headache was definitely gained. The representative spent most of her time trying to be a know it all and didnt know a thing. She began giving me information I didnt even ask for nor needed. I asked to speak with a manager several times because she told me she couldnt understand what I was asking. I was dismissed each time by the representative who kept responding the manager would say the same thing..
Aug 24th, 2021

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Jul 12th, 2021

We leased our mattress through them, made payments and missed a couple which was our fault, got back on track and logged in online to pay off remaining balanace, I did then called to verify as you never know with these leasing companies! Glad I did, because she said their system messes up and shows you have a $0 due when you actually dont. I thought that was crazy that they knew that and havent fixed it. Anyways I said I just paid it off I cant pay more now. So I waited anf they called me to settle for $24 and I did, he confirmed it was paid off! Now a month later I see a big hit from them on my credit that brought it down 24 points! So I called, the lady I spoke with said oh no you didnt pay that $24 they tried but It didnt work! I said no I have my bank statements where it came out and I spoke to a manager, who confirmed it was paid off and Ill have to wait another cycle to get it off my credit. Beware of them! I feel like a lot of customers will be getting some money returned back when this company is sued over how they do business and taking more money than theyre owed. DONT RECOMMEND.
Sep 11th, 2021