• Report: #126708

Complaint Review: Beneficial Finance Of Washington

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  • Submitted: Mon, January 10, 2005
  • Updated: Mon, January 10, 2005

  • Reported By:Tukwila Washington
Beneficial Finance Of Washington
14150 NE 20th Street Bellevue, Washington U.S.A.

Beneficial Finance Of Washington - Household Finance - Beneficial Financial Ripoff Beneficial Knows how To Twist The TRUTH Bellevue Washington

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When I received my third loan from Beneficial, in April, 2004, I felt confident that everything would go smoothly. I was adamant that I did not want a third mortgage or lien on my house, as I was going to be refinancing it later in 2004. I was assured that would not happen. I knew I was going to pay high rates again as I did in the two previous loans. I have always paid on time, as agreed.

When I went to refinace my home last month, the lien popped up with Beneficial. I asked them to subordinate the lien until we could get refinanced, which would have saved us $1100.00 a month. They refused. They have hounded us all year to refinance with them, but I refused, knowing I could get a 5% interest rate, rather than a 7.5% with them. I was appalled by their actions, when they said the only way I was going to get a loan was through them. Luckily I was able to find a lender that took my first and second, and wrapped Beneficial's in with it. Now I am out of their grips. I hope this letter will be a warning to others of how unscrupulous Beneficial really is. I asked how much I had coming back to me after the end of the loan, and their comment was nothing.

I was fortunate. Others have not been so fortunate.
Beneficial is good for a quick fix loan, but no more than that, unless you want their hooks into forever.

Horace
Tukwila, Washington
U.S.A.

This report was posted on Ripoff Report on 01/10/2005 02:45 PM and is a permanent record located here: http://www.ripoffreport.com/r/Beneficial-Finance-Of-Washington/Bellevue-Washington-98007/Beneficial-Finance-Of-Washington-Household-Finance-Beneficial-Financial-Ripoff-Benefic-126708. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.

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