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Citifinancial / Rip off

1 United States Review updated:
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On the day of closing on the sale of the house I was buying, the mtg. broker called and said banking laws had changed and I need double the down pymt I had been approved for, and they had it already set up w/Citifinancial-just stop and pick up a check.

The check was for $9500, @ 21% interest, which has been reported to the credit bureaus as $15, 600. I felt I had no choice but to take it at 2 hours before closing- that, or be homeless. I paid a personal visit to branch mgr. Cindy Sandburg, who told me they would reduce my interest rate and lower my payment, then the story changed over and over again. Citifinancial was totally UNWILLING to work with me in any way.

So, my philosophy on that is, if you're in the business of screwing people, and they are, then you deserve to be screwed also. What goes around comes around. Why does this company punish its customers? That makes no sense to me, and I desperately would love to see them investigated for consumer fraud, misrepresentation, loan sharking, extortion, and whatever else could be thought of.

I have never run across a company so willing to financially rape its own customers-do they honestly think that will make them want to do business with them in the future?

Va
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Comments

  • Jo
      2nd of Nov, 2008
    +1 Votes

    First of all you dolt, it reported to the credit bureau hire, probably because you are in a state that does precomputed loans. Second, 21 percent interest is not so bad considering the fact that you couldnt get that money elsewhere if you tried right now because banks and credit unions are not lending. 3rd the rate is hire because Citifinancial is not a bank, they have to borrow the money that they are lending and the rates on that borrowed money have sky rocketed since the market trouble. You people whine and complain about everything, they are the only company that will help you with you mortgage when you are in trouble. They will work with you, other mortgage companies wont they will just take your house. Think about your situation before you complain about it. Than what will happen is you wont pay your bill on the due date, and then you will complain your balance isnt going down. I wonders why? You are all the same.

  • Ev
      20th of Nov, 2008
    0 Votes

    Mr John Smith... obviously you do not know what you are talking about or you work for citifinanacial...i always had good credit, i just did not think a very well known bank will get me into what i call a nightmare ...it just does not go away...i pay and pay and my balance is the same...3 years ago i took a personal loan with CitiFinancial for 5, 000.00, i have been paying every month 129.00 for the last 3 years that is in total of 4600.00 as of today and my statement still reflects 3, 648.00. as my balance...which means i only paid 1400.00 towrards the dedt and 3200.00 to interes what a ripp off, , , , , , , , , , i called them to settle this debt ...willing to pay 2000.00 to get this out my credit, but they still want the entire amount of 3600. if i want this to go away...I'm so upset it seems that their interest is not 27%... if feels like 90% since if i keep paying in 3 years from now i'll still have 3000.00 as my balance... this is not right :( ultimatelly i'll be paying twice the amount i borrowed in the first place...i will not RECOMMEND THIS TO ANYONE...

  • Ci
      14th of Mar, 2009
    0 Votes

    well i got raped by citi on personal loan. i think i will be paying this for the rest of my life. These company are there to rip people off. i wish i could go back and change everything but hey its life.

  • Ha
      5th of Mar, 2011
    +1 Votes

    This company really helped me out when I was in a jam!! First of all I needed a personal loan and they approved me for 7200. I knew the interest rate was crazy and had to make some larger monthly payments to knock it down. My payment was about 300 but I had them take out 500 a month. I made an extra payment of about 200 a month and finished the loan off with my recent tax return money. Yes the interest is high, but I knew that going in and had a game plan to keep the loan a short term deal. They also gave me my truck title back early before paying off the loan when I requested it. I'm very pleased with the way I was treated with this company. They helped me out when I was in need.

  • Je
      5th of Apr, 2011
    0 Votes

    The interest rate is high, BUT YOU SAW THAT BEFORE YOU SIGNED. Anyone knows that any business takes their interest FIRST, then deductions come from your principle. I'm like HAMMER192 on the messgage above. I got $5, 000 in 2008. With interest I paid them almost $8, 000 but I made double payments; therefore it's 3 yrs later, I only owe $999.60 and it's only been close to 36 months instead of 60. When your in need, you don't think about that high interest that YOU SEE RIGHT BEFORE YOU SIGN ANYWAY. Thank you CitiFinancial and sorry to those who didn't think to look at the entire picture before they signed.

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