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Beneficial Finance / Stopped my bank account so I can't get my money

1 United States Review updated:
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Beneficial made it so easy to keep borrowing money. But when I tried to get the payments lowered I got no help. They started garnishing 25% of my check which financially killed me! I left that job about 8 months ago. They contacted my bank last Friday and froze my money! I was already having problems paying my bills. I am livid! I wish I knew what to do, any ideas? To go back a little I had been summoned for a court hearing. I paid $500 for help and I got none. The CEO of this place has no sole. They branch I borrowed from has gone out of business, I hope they whole place goes under.

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  • Je
      16th of Aug, 2008

    I have idea for you ... STOP CASHING CHECKS WITH 25% INTEREST RATES IF YOU CAN'T PAY THEM BACK! What is it with you people always blaming other people? Pay your bills ... stop borrowing money you can't pay back ...

    0 Votes
  • Ze
      1st of Sep, 2009
    Beneficial Finance - Scam artists
    Beneficial Finance
    United States

    We took a loan out for $5, 000 with Benificial a couple years ago when going trough hard times. After around 2 years of paying almost $200 a month, the balance is higher than when we started. We were not informed properly of the finance charge each month that was almost the same as our payment. So, of course, each month when I pay them I might as well be burning a couple hundred dollars. Who can afford that? Recently, I have not paid (3 months) because my husband took a job that pays less, and we can't afford it. I have tried to contact them, with no response. There web site has a link for payment difficulties and lowering your payment, but when you email, nobody responds. Instead, I got a letter saying "they can't understand why we have not paid, and not contacted" I am scared to death they are going to go after our bank account, which would kill us! Any thoughts on how to proceed? Can they empty your account? I wish this company would go under! They are scan artists!

    0 Votes
  • Lo
      1st of Sep, 2009

    I did business with Benefical many years ago, many times and never had a problem.

    The contract you signed should state exactly what the finance charges are.

    You need to call them or send them a letter in writing to try to set up a different payment plan, because of your financial status change.

    The lower amount you pay though will increase the amount of time you are paying it off and the total finance charges you end up paying will be more.

    0 Votes
  • Mr
      13th of Jan, 2011

    if i were you, you should consider filing for bankruptcy.

    0 Votes
  • Mr
      13th of Jan, 2011

    you should consider filing for bankruptcy.

    0 Votes

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