Purchased a Aqua Clear System I-IQ1030B priced at 6,365.30 and 1-Micromax 6000 unit priced at 3,88.30 unit was installed on 5/27/09. total priced financed at 6,500./ Company went out of business, now we are stuck with a unit that needs repair. | Our start up payment of 130.00 started on July 1st 2009 we were making payments to Carmel Financial Corp. Inc | 101 East Carmel Drive | Carmel Indiana 46032 | 1-800-727-2987 | So know our payments were transferred to Aqua Finance Inc FBO Connexus Credit Union/P.O Box 3256/Milwaukee WI 53201 | 1-877-369-4330. | Payments included a finance charge of 1.75 per month and a 18% monthly rate. As my husband and i begin calculating we realized we were spending an enormouse amount of money on a system that needs to be serviced, lifetime warranty we thought we had , no longer exists due to company does not exist anymore. We were having the 130 deducted monthly fro our account, well when our jobs ended, we started looking at our money more closely. We payed 130 for 7 years and 4 months thats approx. right. So out of 130, 23.40went to interest, 1.75 toward finance=24.15 left 105.85 toward principle. | So 7 years and 4 months we paid a total of 9,318.80 minus interest and finace charge=2,125.20 | We stopped our automatic payments due to loss of job, Aqua finance does not feel they are in the wrong with these outrageous payments. this is now 2017 and we still have a balance of 4,227.59. I understand you have to pay interst rate and finance charges but this is highway robbery. My math may be somewhat off but we have been unfairly wronged, I beleive Aqua was in on these rip offs, I read someone elses story with the same situation. We have paid twice for this unit. And Aqua has made a lot of money off the situation and told us that there was nothing they could do, but wanted us to pay off the balance they have listed on our statement. This is ridulous.
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