Apparently GE MONEY in some way is taken advantage from the customer, offering viability in credits that they know the client could not afford(when the client after the purchase inform it) with no opportunity to renegotiate and beside that their collecting methods can reach the point of the harassment.
The customers can bepenalized with a high 20 percent interest rate plus when they are not able to pay the bill in the due day, otherwise the persons that collect the debts call the customer until 100times per month, even calling friends and relatives, are they responsible of the debt?
That is why the Australian Securities and Investment Commission (ASIC) ordered to GE MONEY tocompensate their customers even if they owe money yet to GE.
GE MONEY is giving a bad costumer service to the clients; when they are in the position of renegotiate their debts they donot give the opportunity to this, as one client who decided badly buy a car, and after that she realized no be able to afford the monthly amount on her bill, come to hers accountmanager and she do not did anything at respect.
This client, have no other thing to do than gather the money of the debt from other source and pay the balance to GE. May be now theyhave the money, but this client never is going to deal with them again, and it is to expect that even her relatives and friends do the same, because she has a terrible image from GE. GEforgot that a client is a way to advertise.
What happened with the GE’s Value Engineering approach? What happened to the approach of managing with Candor? It is very disappointingto me hear that stories about one of the greatest companies in the world and I admire. I hope that all those complaints were heard by their managers and redirect the path of GE MONEY.