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The good, the bad, and the ugly - discover what customers are saying about Beneficial Finance

Welcome to our customer reviews and complaints page for Beneficial Finance. We understand that making informed decisions about where to invest your time and money can be challenging, which is why we've created this platform for our community to share their honest feedback about their experiences with Beneficial Finance.

On this page, you'll find a comprehensive collection of reviews and complaints from real customers who have used Beneficial Finance's products or services. Our reviews are authentic and unbiased, providing you with a complete picture of the company, its products or services, and their customer service.

Whether you're considering doing business with Beneficial Finance, or you've already had an experience with them, our community's reviews and complaints will give you a valuable perspective on what to expect. Our goal is to help you make informed decisions about where to invest your time and money, and we hope that our platform will be a valuable resource for you.

Please feel free to browse our reviews and complaints and share your own experience with Beneficial Finance. Your feedback is an important part of our community and will help others make informed decisions.

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4:00 am EDT
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Beneficial Finance Debt never going away

We took out a loan 12 years ago for $10, 000, paying $200 a month and still owe $8900. I'm curious how many customers do not have the same account # from their original signed contract?

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Update by lisbella
May 14, 2012 2:24 am EDT

I don't see no terms because it's considered a revolving account like a credit card and we did no realize that when we took the loan out. uhmm that makes sense about interest rate in thier state I will have to look into that. thanks.

Update by lisbella
May 11, 2012 12:44 pm EDT

We wrote to our state bureau to complain and they stated that it's the daily rate of 18% Our payments are only $150 and we have always paid $200... Isn't that crazy! I think I'm on to something though and I hope that it falls through because this is absolutely wrong. Anything I noticed I thought NC interest rates were not suppose to be over 16%

Update by lisbella
May 10, 2012 11:16 am EDT

Once...9 yrs ago cashed a check for $500 ... do you have an account with them

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isabell320
, US
May 27, 2014 8:41 pm EDT
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I"m in the same boat, it's so ridiculous how the way the figure their loans and the principle never comes down. I have disputed my amount and finally stopped paying while in the dispute and now they are turned over to a lawyer and reported me late to the credit bureau. Their own contract states they can not report delinquent while the account is being investigated. I'm reporting them to our State Attorney General . If you had your account with them in 05/2009 see if you can get a report of your credit because they posted two bogus accounts on our credit and we found out because when we went to purchase our home we were denied because of showing an additional $10, 000 of debt that was not even ours.

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Professorlane
Maxton, US
May 27, 2014 4:03 am EDT

I co-signed a loan for a friend with them in 2005 also for 12, 000.00. I paid $250.00 a month and at times would pay more telling them to apply the remaining monies to the principal, but they did not. I was also out of work due to surgery in 2006, and 2007; but the insurance never paid any claims for me being out of work due to major surgeries according to what an agent from Beneficial told me. When I and my attorney started questioning them about how much money I owe them and requested copies of all payments made to them, they transferred my loan to Springleaf who states, "we do not have their records only what was sent to us that you owe, but we will be glad to request copies for you and mail them to you. Now Springleaf Financial have not given me any problems yet, but the same practice of the load not decreasing is what I am seeing in them also. According to their records, although I have paid over $19200.00, I still as of 5/13/2014 owe them $10, 453.88. According to their records I have only paid this loan down a little over 1400.00 and that's all. This is robbery...They are trying to make it legal to steal money from people this way. I am very angry because they are stealing. I cannot talk to anyone about the loan local because I am told my case is out of state and all they can do is take payments or refer me to call the [protected]. I was told my loan would be paid out in 2014...but based on the amount they claim I owe, and am not late...I intend to fight them on the legislative level. They are loan sharks with a license to practice stealing!

Brenda

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P. Bryan
Hendersonville, US
Jul 16, 2012 12:48 pm EDT

I just want to scream! I took out a loan in 2007 for $9000.00, under the impression that it was a "term" loan! Little did I know that it was a "revolving" loan! I have paid 147.00 a month for five years now and have never, ever been late since it is an auto deduction out of my checking account and I still owe $8, 252.97! 18% interest...this is just wrong! I have called several times asking for the loan to be converted to a term loan or for the interest rate to be lowered and all I ever get is a person that can hardly speak English and that tells me they can do nothing to help me! Certainly something can be done to stop this!

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10:27 am EDT

Beneficial Finance Stay away

If anyone starts a class action - I am there!

They keep taking mortgage payments out of my account, every couple of weeks, and I have never authorized them. When I call, I am never allowed to speak to a manager, only advised to send a fax, with all the details to the Research Department. I call every day and am told it can take 4-6 weeks to get an answer. In the meantime, my account is completely overdrawn. My bank is being great in trying to help me, but I can't get the payments to stop. I put a block on any more payments, and did get a phone call stating that if I don't remove the block and do not allow the payments, that I will never again be allowed to make a payment over the phone or internet or by check and will be required for the life of the mortgage to pay by certified bank check. I am stuck. The Bank Manager suggested opening a new account. This company is so full of fraud it is ridiculous. If they want you...believe me managers, etc will call you, but if you need to reach them, all I can reach is a service rep. I am so frustrated...

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lisbella
Lincolnton, US
May 02, 2012 3:52 am EDT

We took out a loan 12 yrs ago for $10, 000, have paid $200 every month and still owe $8900! Most of thier branches have closed down and we have tried for them to make a settlement but will not unless we want to go 3 months with not paying and ruin our credit. I've been doing reseach and I'm curious how many customers have a different account # right now compared to the original signed contract?

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Michael Blackburn
Salt Lake City, US
Jan 19, 2012 5:56 am EST
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Possibly the best solution at this point is maintain a written record instead of communicating by phone. Write a letter to the legal department and ensure to send it certified mail so that you have a written record. Also ensure that the letter is notarized and ask for written documentation that supports their ability to withdraw funds. In other words what authorization do they have from you to withdraw funds from your account. If no authorization exists well that would present a different scenario where legal action may be an alternative or ask for a principal reduction of the amount owed. Hope that helps. Good luck.
michael@perfecthomeliving.com

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2:29 pm EDT

Beneficial Finance Thieves

My husband and I have a mortgage with HSBC aka HFC aka BF. They give you the runaround when you call. Their reps are extremely rude, uneducated and experts at getting you angry. We tried for a loan modification. We wasted 6 months of our time. We have not received mortgage statements for over 6 years. We are in bankruptcy and paying them back an obscene amount of money on arrears. Big mistake taking a mortgage with you BF. I bad mouth you to everyone I know and tell them to stay away. I'm doing my best to refinance and get away from you thieves.

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lisbella
Lincolnton, US
May 02, 2012 3:56 am EDT

I'm curious how many customers do not have the same account # from thier original signed contract?

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4:32 pm EST

Beneficial Finance rude and very frustrating to deal with

Have tried and tried working with Beneficial for a modification plan. Spent over two years with numerous phone calls and faxes and dealing with rude people and still nothing. Can't get informatioin from them. worst company I have ever dealth with, so sorry my loan got sold to them...I want out! All they do is give you the run around. I have wrote to my senators and congressman and they have been no help. they say they don't regulate Beneficial. Don't know why the government can't help. They bailed everybody out. Seems like everybody is scared of Beneficial, so those of us who got their services are just screwed!

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6:34 pm EST

Beneficial Finance Sick of this company and their lies

I have tried and tried and tried to work with this company have spent countless hours on the phone talking to person after person. Faxed the same items requested over and over again to differnet people and nothing ever changes.

Our account is now more than we borrowed from this company over four years later of paying them thousands and thousands of dollars. They lied to me for four months telling me they just needed a payment to get our modification thru.

It took six months of them charging me interest and late fees ect. before the modification went thru and now it is six months later and they are doing the same thing again. I hate this company they are the worst mistake I ever made in my life.

Never never never never never never never never never do business with this company and there should be something that the government or someone can do about these horribly rude, lying and deceitful people.

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isabell320
, US
May 27, 2014 8:42 pm EDT
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I"m in the same boat, it's so ridiculous how the way the figure their loans and the principle never comes down. I have disputed my amount and finally stopped paying while in the dispute and now they are turned over to a lawyer and reported me late to the credit bureau. Their own contract states they can not report delinquent while the account is being investigated. I'm reporting them to our State Attorney General . If you had your account with them in 05/2009 see if you can get a report of your credit because they posted two bogus accounts on our credit and we found out because when we went to purchase our home we were denied because of showing an additional $10, 000 of debt that was not even ours.

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9:40 pm EST

Beneficial Finance Loan high interest rate

I have been paying on a loan going on 3 years, and its more now than what I borrowed. I borrowed 8, 000 dollars from Beneficial Finance 3 years ago.

I was paying 170.00 dollars a month. I never missed a payment on my loan.

Two months ago I called to get a balance on my loan and they said my balance is 8, 400.oo dollars. I was furious and asked for details on why I still owe that much money. They told me out of my 170.00 dollar monthly payment only 15.00 dollars was going on the principal and the rest was interest. It was hard to believe.

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12:11 pm EDT
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Beneficial Finance Scam

After being told in July that they were going to process a deed in lieu of foreclosure and it would take approximately 6 weeks. I never received the paper work to sign. I contacted the company and documented who I spoke with every time. I was put on a list where my account number could not even be answered by a customer service person. I was told that the deed in lieu had in deed been requested and they went out and put a lock on my home to secure their property. As of 9-9-09 I still had not received paperwork to complete the deed in lieu of foreclosure. I spoke to a Mrs. Brown and she said she would expedite this matter since I had turned the property back over in June and it had been on hold for a long time. The very next day I received a call from A Kurt Soley telling me the deed in lieu had been declined. And that I would have to get a Real Estate Agent to sell it for me. He said they would take any offer on a short sell and I would not be responsible for the remaining balance. I do not trust this company and would like to know if this was a legal transaction and if their word is true that I will not be responsible for the balance. Yes I do want it in writing.

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Total
, US
Oct 13, 2010 6:20 am EDT

We have our house financed with beneficial and our house payment is 1035 a month thats without taxes and insurance my husband became disabled and i havnt worked all summer with some major illness. they dont care you dont have as much money comming in like you used too. on top of what we owe them we have 14, 000 added to our payoff called deferred interest this is bull. we are never going to get this paid off. we cant afford 1035 a month anymore.we told them we only make half of what we uses too. WELL SO WHAT!

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Dottie1969
Stafford, US
Feb 26, 2010 1:40 pm EST

These stories are so familiar, Maybe 1 voice can be ignored but not many, if we have learned anything from the past. I have a support group on FB if any are interested you can find it by my email. Dottwell@hotmail.com or just shoot me an email. I

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6:49 pm EDT
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Beneficial Finance Terrible company

Beneficial finance is the mortgage company. i received notice from them that i was (3) years past due on my property taxes and i was charged appx $1390 to my existing mortgage for the taxes which i had already paid. i called and talked to someone & thought I had fixed the problem. my payments are set up on ez pay draft and was i pissed when my next payment was for an additional $140.97 to pay back the property taxes. i tried talking to them again; was sent to appx 3 different people. they said i would have to pay the extra each month until the problem was resolved & them i would be refunded for anything that i had overpaid. this did not set right with me. i went to the court house (city & county) and got them to print me copies of my tax receipts for the past (3) years and each receipt stated date amount & who paid the taxes. none of the receipts were paid by beneficial. i made copies of these receipts, i faxed & mailed these receipts to beneficial (after 7-10 payment was made). i open my statment for 8-10 and what does it show? that i owe an additional $140.86 again this month. i called and liked to have never got to talk to a real person. they said the problem was still under investigation and was not resolved yet. this has been going on since may 10, 2009. i told them to take the ez draft payment off, that i would send them a check and it was going to be for the regular amount of $1555.11 not $1695.97 as they requested. if i ever get out from under this mortgage, i will never do business with beneficial again.

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9:34 pm EDT
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Beneficial Finance Will not lower my interest rate

I am so completely lost and have no way of getting out of this loan! At first I paid on time, then I had a little financial problems, and fell behind. I called them and they showed no mercy whatsoever.. I really just decide to let the whole thing go and slide into bankrupcy. My mother convinced me to talk to these idiots and try to catch up with the loan. Well I have done so, but there is a huge amount that they have added to the end of the loan. I feel buried up to my eyeballs and no way out---I will be paying this thing off for 50 years! I pay 1800 a month and the loan never seems to go down! Please Help me, I need advice on what I can do!

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suprabbit4
Superior, US
Dec 29, 2010 12:48 pm EST

I am having the same issues as above we have asked them to lower our rates. We aske to refinace we have asked them to work with us and they refuse to cooperate in anyway. Is there anything that can be done they gave us a morgage loan and then a line of "credit" which we were told was gong to be rolled into one morgage once we made the needed upgrades. When we went to roll this in with in a few months they refused to work with us. They put the side loan at 22% and the payments at 400 plus we have made payment faithfully for 6 years and we missed 2 month due to medical issues and being off work and they have been harrassing us and putting extra"fees" on since. Is there anything that can be done?

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diannepatriotlaw
saratoga springs, US
Jun 10, 2010 8:26 pm EDT
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I do Loan Modifications and this company hangs up on me time after time and i rarely get anywhere. I have several dozen borrowers sending a letter to a few banking officials the ceo, cfo and British banking committees as well. The company is based out of London and acts with no moral compass. Most likely you did not close your loan in an attorneys office, nor a title company. Most likely at closing the rate changed, most likely they had you sign a new application and new good faith and til at closing. I work for an attorneys office, we hear the same story time and time again from borrowers with BEN.

You most likely you owe far more on your loan than your house is worth, you may wish to get a chapter 7 or 13. in the meanwhile set up a efax account for being able to record the communications with your bank and offer to pay them 4% over 30 years. get your homeowners ins down lower and get your property taxes lowered. Check out http://patriotlaw.blogspot.com/ that's my blog. I'll be adding free information that may be helpful to homeowners stuck with
Beneficial loans.

I hold free conferences every Saturday at 8am MST, where people can get general information, and add themselves and their cases and petitions for modifications.

dianne@patriotlawfirm.com

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11:56 am EDT
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Beneficial Finance Illegal policies

I went to Beneficial last month to pay my bill and I'm told that they no longer accept $$$ you know those little green pieces of paper with the words "Legal tender for all debts public and private" on them? Yes, they wouldn't take it! I pointed out their policy was illegal which the office staff agreed. So, it took me a few days to bring them a check. I went by again this month and the branch had closed! No note, no automated phone call, no e-mail, no warning whatsoever. It just shows how much they care about the customer I guess.

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Jesse
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Nov 21, 2008 1:27 am EST

They haven't been taking cash payments since DECEMBER 2007! WAKE UP! The office closed which means the people working there lost their jobs, and are now in the unemployment line ... but you're right ... it was probably just their way of telling you ..."the customer" ...that they don't care about them. Get over yourself.

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7:22 am EDT

Beneficial Finance Account number

I called to get my account number to be set up on the hardship program the lady disscussed over the phone . the man on the phone said he could not give it to me and no one else could. Well if he can take my social security number then i feel he could have gave me my account number or directed where to get cause i explain to him i didnt have a bill with the number on it . and so he just hung up instead of helping me. kim page

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van work
West Monroe, US
Mar 03, 2009 8:10 am EST

borrowered 7000.00 for 11 days, charged me 76.77

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isabell320
, US
May 27, 2014 8:36 pm EDT
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I"m in the same boat, it's so ridiculous how the way the figure their loans and the principle never comes down. I have disputed my amount and finally stopped paying while in the dispute and now they are turned over to a lawyer and reported me late to the credit bureau. Their own contract states they can not report delinquent while the account is being investigated. I'm reporting them to our State Attorney General . If you had your account with them in 05/2009 see if you can get a report of your credit because they posted two bogus accounts on our credit and we found out because when we went to purchase our home we were denied because of showing an additional $10, 000 of debt that was not even ours.

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berrygirl
Goshen, US
Feb 17, 2012 6:03 pm EST
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I too have been a victim of Beneficial. I had a mortgage with them for about 10 yrs. The interest rate was outrageous but I was never late . They kept re-adjusting my terms (without my knowledge) and tacking on fee's that were from nowhere. Anyway, I finally knew I would never truly own my home since this mortgage would be with me forever so I decided on a short sale since I would never be able to to sell it in a normal market and payoff what Beneficial said I now owed, pretty much double the original loan amount. So with a highly competent realtor we received an offer. Beneficial balked at this and refused the offer even though it perfectly suited the market and home value and as myself and my realtor figured it was about the "true" amount I owed on the mortgage.To make a longer story short they finally accepted and I got out from under them! But now I am trying to purchase another home and now Beneficial has NO records of my payment history for my credit. So now it looks like they are still haunting me! Has anyone else out there had this problem with Beneficial?

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Without Hope in Jamestown
Frewsburg, US
Dec 07, 2011 2:12 pm EST

They did the same to me. About 4 years into a 20k loan they added in additional interested charges they should not have been there. I called them as soon as I seen the extra charge on my statement with with no results so I had my attorney get involved who wrote them a letter. They refused to even respond to him. I could not afford to hire my attorney to fight this so I ate it. I always pay extra each month on my loan as well. It was due to be paid off in Aug of 2012 but I am still paying on it. I don't know who can help us. Someone needs to take them down. What they are doing surely can not be legal. I thought things would change when HSBC took over, but no. Sorry for your situation maandpaproter. Yours sounds worse then mine.

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Without Hope in Jamestown
Frewsburg, US
Dec 07, 2011 2:01 pm EST

I have had a loan with Beneficial for over 10 years. The original about was over $20K. Every month I get a statement telling me my balance. About 4 years into the loan my balance was off by about 1700 in interest. After several attempt to contact them about this by phone with no results, I had my attorney send them a letter. According to my contract, they needed to respond to within so many days. They never did respond and refuse to talk to me about it over the phone. The cost to hire my attorney to fight his could end up being more then the error amount so I just ate it. My loan should have been paid off in full in Aug 2011 but due to the extra interest charge and the interest on that, it is now Dec 2012 and I still have over $1000 left on my account to pay. I am current with my payments and the statement I get each month says that nothing is past due, yet they will not stop calling me for a payment. The calls start at 8 am and do on all day. They keep asking for my payment this is not due for 2 more weeks. They say they are just trying to help me out. LOL I have asked them to stop calling me. They say they are making notes not to call me again in their system by the calls just keep coming. HSBC owns my Beneficial loan but did not when the error occured. Still...Say away from HSBC.

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maandpaporter
El Sobrante, US
Apr 16, 2011 3:41 am EDT

after paying 20 yrs on a 15 yr loan i have paid over 120, 000 on an original 29, 000 loan i now owe 18, 900 which means in 20 yrs ive only had 11, 000 go towards the principal well never live long enough to pay this off can u believe this and i always paid 500.99 instead of the 448.00 payment is this really legal

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suprabbit4
Superior, US
Dec 29, 2010 12:38 pm EST

ok the AAA clause on all loans with Benificial is null and void is that correct. I am so tired of them threatening, over charging, harrassing 3 to 5 times a day, lying and refusing to work with customers I need to do something. I have a loan we have been paying on for 5 years and I now owe them more than we started with

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D. Howard
, US
Jan 11, 2009 7:03 pm EST

From D. Howard
Because beneficial made me responsible for the $8, 000. My ENTIRE LOAN is CANCELED.. Isn't that sweet! Oh yea.. my wifes $8, 000.00 is canceled too.

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D. Howard
, US
Jan 11, 2009 5:27 pm EST

I was sued by Beneficial in October 2008. What they did was send me a check for 7, 000.00 on January 2007. I accepted the loan to help pay taxes. I was paying the loan back. Chasing an evasive, predatory loan. Then they closed the local office and I went on line January 2008 to pay my monthly. They partnered with some check by mail crooks that charged me $15.00 for a transaction.

The amount I was responsible for and that was listed on the check was $8, 000.00. When they sued me they filed in Superior Court to get a judgment against me for over $8, 000 ( penalties and interest added )

The difference between the seven thousand and eight thousand was unavailable to me. They retained this $1000.00 so they could add interest and misc. fees.

I called them when I was falling behind but was ignored and told that they couldn't accept a lower payment.

Now monthly I was to pay them $218.00 a month. Along with this $218 a month, there were finance charges due of $175.00. This $175 was drawn from the $1000.00 they withheld and ONLY had access to. So month they were taking me for $393.00 a month. The $175 wasn't fixed so it varied every month more or a little less.

So they started calling me at work. I asked they don’t do that. Because they wouldn’t and didn’t want to cooperate anyway. Fool saying, the entire amount was due and payable. We are going to send our attorney after you. Then on October 2, 2008 I received a letter from an attorney in Southern California. This standard latter said I had thirty days to dispute the amount or he was going to file. This crook of an attorney filed on October 15, 2008 a lawsuit in Superior Court. What happened to my thirty days? See by law he has to abide by the federal mandated thirty day law. He didn’t. The server came by my house, asked for me. I was talking to him but he didn’t know it. I tried to avoid the service. He said, it doesn’t matter who you are, I don’t need to serve these papers on anyone. I can drop them on the door mat. So he did.

I picked them up, first shocked they didn’t wait the thirty days. Then I read the suit. The last page mentioned ADR ( arbitration_alternative dispute resolution ) terms that was attached. They were not. So I found some old papers that they gave me in 2007. I had a copy of the ADR rules. They rules state. Any party could demand arbitration. It also states. No court could hear the case if the ADR was demanded and initiated.

So that is what I did. I followed the ADR to the letter. Filed with the AAA ( American Arbitration Association) find them on the net for your state. They cost to file is $1000.00
Beneficial was responsible for $875.00 and I was responsible for $125.00. Sweet
This is what happened. The attorney ignored my request and demand. I filed in superior court my documents (answer to the civil suit) cost me $180.00 plus ) I filed incorrectly with the Fresno office of AAA. Initially the cost I misunderstood and filed incorrectly, which lead me to believe the suit would be $750.00 total. So I knew beneficial wouldn’t cooperate, so I sent the $750.00. The AAA office called and told me the correct amount due from me was $125.00 and beneficial was to pay the $825.00. The attorney wasn’t cooperating still. He filed interrogatories for me to answer in the civil suit. I called the AAA in Fresno ca and the told me. They had my check for $750.00 that beneficial would be asked for the difference so the could move forward. Of course would be reimbursed once everything was done. They informed the attorney, they gave him until December 29, 2008 to cooperate. They told the since Beneficial had AAA on their documents and I had demanded arbitration. They were required to cooperate or face loosing the ability to claim the AAA on all documents and this would open up Beneficial across the whole United States to straight up full blown court suits. By you all and everyone they do business with. See if you sue them they trigger the AAA clause you must abide by. They sue you they skirt the AAA and take you to court and get a judgment. Once that is done ( thirty days to file an answer_ and I am no attorney but I do know how to file and act like one of the best )
Long story short. I paid the entire $1000.00. They will lose the AAA on all contracts I am not letting up! So everyone GO get them in small claims, superior court and any court you can file in. I know how to file the papers. I taught myself and on line some documents you can find completed. Plus their filing helped me. The attorney will be fired, Beneficial when they got threatened to loose the AAA clause on all documents piled 15 more attorneys on the case. PILE THEM ON.. .more for lunch.
The attorney that filed against me is fired, he will loose his account with beneficial, this fool cost them their AAA, and on his web site get this he broke Federal mandated law. I am filing with the Feds and I know who they just don’t come to mind right now. But they will go after them for the predatory practices. They will go after them because it is a federal offense to hold me responsible for $8, 000 and not give me control or access to ever spend it. Makes sense huh? You can’t be liable for money you couldn’t control or have.
Also I did plenty of research. Beneficial has many offices unlicensed. I filed to report them on that too. One office in Burbank Ca has over fifteen licenses and the other ones closer to us don’t. They only handle us and give out the money. The Burbank office sends out the check to hook you. I also found in 2004 the same government agency sued them for the same thing. I copied the entire case and filed it to follow up on with the AAA. I also found out the federal law on consumer lending states. It is illegal to hold more than one license and every office has to hold one. I am going to get them on that too.
I am going to file to the attorney license board and take the attorneys license for his disregard for federal law.. Enough I have so much on these clowns.. I just can’t recall. Oh yea.. Let me share this. I socked the attorney with my answer the week before Christmas.. Merry Christmas fool. . I took the AAA clause because he ignored the AAA, so I filed on the last day of filing and went under the wire on the last day! I put the AAA clause in jeopardy on December 29, 2008. Happy New FOOL… HA HA HA HA.. NEXT

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Jesse
,
Aug 18, 2008 8:53 am EDT

Ask them to put you on the Do Not Solicit list .. it doesn't hurt to ask what they want sometimes ... it is possible you have some sort of account and are not aware of it ... their job is to conconfirm that .. ask what they want .. if you don't have an account ask .. politley ... to be put on the DNS list.

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12:50 am EDT
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Beneficial Finance Stopped my bank account so I can't get my money

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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ZedJ75
, US
Sep 01, 2009 3:59 pm EDT

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!

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mr friedman
Bronx, US
Jan 13, 2011 8:33 pm EST

you should consider filing for bankruptcy.
jmo

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mr friedman
Bronx, US
Jan 13, 2011 8:32 pm EST

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

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Lor954
Northfield, US
Sep 01, 2009 9:50 pm EDT

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.

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Jesse
,
Aug 16, 2008 6:43 pm EDT

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 ...

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6:18 am EDT
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Beneficial Finance Fraud

Beneficial Finance, Richmond, Va. called me over and over again. I did not return their calls. I finally asked them to not call me again at my workplace.

They had the nerve to send me a letter today that "my loan«, which I never applied for, I never stepped foot in their office, my "loan” was denied and on my credit rept. I'm sure they were mad I did not return their constant calls nor come in and meet w/ them. Isn’t this fraud? I never applied for a loan w/ them? Can someone help me w/ this?

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