Citifinancial / Breach of contract
The short of it. My wife has had a line of credit with citifinancial for five years for $10, 000.00 . Recently we purchased a house and bills came with it and we were charging but paying other creditors. One charge in particular we wanted to pay off to free up some money, we thought we'd pay off using remaining credit available with Citi. My wife contacted by phone a Citi representative and requested convenience checks which Citi sent four. They thanked her for requesting the checks and advised that she could use them until 04/09 to her limit. My wife took a check and deposited it into her checking account and paid off the other charge account. a week later she received a letter from Citi stating that after reviewing her recent credit report they decided to reduce her credit limit to $8, 500.00. A couple of days later she went in to check her account to ensure our mortgage payment was in place only to find that Citi had revoked the check they sent ( as a non-payment) and our mortgage payment was taken out of our account. Citi reps have been both uncooperative and uncaring in this matter. I find it hard to believe that their failure to do due dilligence allows them to make up the rules as they go along. My wife acted in good faith and after requesting the checks was given them to use. Citi had an opportunity to look at her report again before issuing the checks for use but failed to do so and is in my opinion in breach of their agreement with her. I could see if she did not pay her monthly statements but she does. At the very least they should have honored the check and asked for the money to be paid back in addition to the amount already owed( under the initial $10, 00.These days you would think with banks looking for understanding and bailouts, and people losing their homes, these bankers would be a little more careful and a lot more understanding. Now we have to juggle our motgage payment and other bills because of this. I am pursuing other legal actions and trying possibly to put together a class action suit and or complaint to take to Washington and the media nationwide. If youv'e experienced similar issues please e-mail me. The only way we can hold them to a standard is to unite, fight and educate.
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