I could take the easy way out, and just say “Because they suck the life out of you” but that would be too vague.

Finance Company: citifinancial, formerly Arcadia Financial.
Issue: total amount due on statement is not enough to close the account.
Case in point: The Most Beautiful Woman in the World and I just refinanced our house and pulled a few dollars out to pay off some bills and the car loan. A check was cut for the amount listed as total due, the check was sent, a statement was received indicating that we still owed over $200.00 because, in tiny print under the body of the statement are the words: “Deferred interest,late fees and/or other charges not included.“

Actually, I can’t show you how small their print is, because Blogger only has four sizes of print. But, you appear to be pretty intelligent, you probably understand what I am trying to illustrate.

Two things I found out: 1) If I keep paying the “Total Amount Due” they will keep sending me statements indicating I still owe more. B) They will continue to send statements, as long as I don’t send the “official” payoff amount, which theory says would become statements for a penny, costing man hours and postage to send out and recieve (business reply mail).

Something else that kind of worries me a bit: the part that says “or other charges.” What other charges are they thinking of?

These kind of practices make me miss the days when Rocky and Guido would stop by with a friendly reminder to pay the amount due, plus interest, or they would bust your kneecap.

We will be paying the “official” payoff amount, and never doing business with citifinancial, or any company with these practices, again.

Sheesh.