My wife and I purchased carpets XXXX today financed through Wells Fargo on XXXX/XXXX/2014. On the anniversary of that date I was charged {$1500.00} at 27 % interest for one year of back dated interest on a loan that totaled {$5600.00}. At the time of sale it was never explained to me or my wife what the interest rates were or the stipulations on the 12 months no interest deal was. The salesman simply said interest would start after the 12 months. The salesmen spent a better part of XXXX hours showing us carpets he also filled out all the forums for us. While rushing us through the paper work he kept assuring us that this would be far less expensive than putting it on a credit card. As you can see with the documents provided they are all in his hand writing. At the end of the sale he gave me a small paper stating it was a receipt I needed to sign for. Again it was filled out by him. So I signed for it not realizing that it was not in fact a receipt but in actuality a credit agreement, that he filled out ahead of time. Looking at it I would never of agreed to such an unfair one sided agreement. The tactics used were predatory and took advantage of new homeowners that had no experience with such types of sales and loans. So as it stands now I paid {$2300.00} on a loan that 's principal has only gone down by {$630.00}. If it were explained to me honestly I would have either paid in full at the time of sale or put it on my credit card which is more than half the interest rate of the egregious 27 % given. 
