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Citifinancial / High interest

1 363 Monroe StreetGrenada, MS, United States Review updated:
Contact information:
Phone: 6622264041

I borrowed a 10, 000 loan from CitiFinancial in 2004, the pay back is $18, 000. I purchased a car for my daughter and paid off some credit card bills. I pay $300 a month for 60 months. I got a $1, 000 loan in 2007. They refinance the loan. Let's do some simple math!! I paid $300 a month for 3 Years. $300 x12=3600 x 3=10, 800 thats what I have paid so far. I got laid off on April 30th, 2009. So, I couldn't afford to pay $300 a month. So, I called to see if they could lower my payments. They reduced my payments to $145.00 and sent me a statement saying I will pay this amount for 122 months. Lets do simple math again! $145 x 12=1, 740 a year x10 years=17, 400. So, I talked to someone in customer service and she told me that my balance was $20, 155. I have paid $10, 800 already.
When I finish paying this loan off, I would have paid $30, 955 for a $10, 000 loan. This has to be illegal!!! I need a attorney to call me @ [protected]. My name is Brenda Brown.

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Comments

  • Pl
      7th of Jun, 2010
    0 Votes

    I have a similar situation is there someone out there that can help me out of this mess. Every month mypayments are going toward the interest. I found out last week, my loan was setup to pay the interest first. I borrowed $7, 500. Repayment will be $17, 000. $148 for 120 months. I was told the interest is taken first then the payments will go towards the principal.

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