Twice already I have been offered to have my interest rate lowered. Sounds good right? Thats what I thought, what they fail to do is point out that your months have now been extended from if its 40 months to 83 or more months, which was from the original loan. (Realistically I would never do that, nor would I think anyone else would.)
Whats pointed out and focused on is that your payments are now less, and your interest rate was lowered.(The payments are lowered very little.)
The inital loan was for 40 months, then 84 months was added on.
I didnt notice it because my payments appeared to be lowered, and I thought that I was being rewarded with lower interest for paying on time.
Not till I went into there office to update them with new information, was I told again now twice after 6 months... "Hey, your eligible to have your interest rate lowered again".
I told the office worker, that I was in a hurry....and he assured me that it would be really quick.
After going home, both me and my wife reviewed the documents, and noticed another additional 84 months added on...with the interest rate lowered only 2% lowered from what it was before.
I went in first thing the next morning, as the office was already closed, and brought my wife with me, because she is very knowlegeable of accounting, and finance.
The man at the counter was not able to produce the proper numbers to match what my wife figured out, and became very nervous.
And saying your intial 12months are very high interest, He was also asked are you closing the account, and re-opeing the account as if its new? He stated no, but the account numbers looked different.
At that point a lady from the back came out, and was very rude, and sarcastic, to my wife in front of other customers there.
She went on to say out loud, "Oh your credit, isnt great!" and I mentioned I never have missed a payment, and have good standing credit.
She again blurted out in a loud sarcastic tone to my wife "Do you work in banking?" and "I dont have to talk to you". Your husband signed it... thats his fault.
I was honestly looking for a resolution, not a debate, argument or a tid for tat.
I just felt that Citifinancial had my best interest as a financial institution, and that I was mislead, and deceived into signing something without being told that my montly payments were being extended in years, making the intial loan double in the amount now owed.
I was told they cant go back to what the original loan was, because they would have to raise the interest, and that citifinacial would not allow them to do that.
When I told them I would report them, I was told go ahead were protected by the state of california! My wife responded saying the state of california is broke, the man there laughed out load saying "Thats a good come back", then the lady said almost attempting to further add problems, if you stop your check we will pursue criminal actions... "So go ahead!" - Provocting us to do just that, causing problems. and as if thats what she wanted.
I have kept a good standing credit, and I refuse to let, or allow someone on a personal level to attempt to ruin that.
I walked out feeling violated, mislead, and robbed. And that my wife was disrespected.
I want to handle this in a professional manner, I am a service connected veteran, have an excellent and a long work history, as well as paying all debts, and loans, I just get the impression that they are very well reheresed in this tatic, and can take advantage of other people, and when I brought my wife who was knowlegeble of accounting, they became very nervous, and extremely rude.
San Diego, California