• Report: #365202

Complaint Review: Citifinancial Services,inc

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  • Submitted: Wed, August 20, 2008
  • Updated: Wed, January 14, 2009

  • Reported By:Brooklyn center Minnesota
Citifinancial Services,inc
333 Willow Bend Crystal, Minnesota U.S.A.
  • Phone: 763-537-9855
  • Web:
  • Category: Loans

Citifinancial Services,inc They issue me a loan at 21.75% interest and my credit was not high risk. Crystal Minnesota

*UPDATE Employee: CitiFinancial is not a bank,

*UPDATE Employee: CitiFinancial is not a bank,

*UPDATE Employee: CitiFinancial is not a bank,

*UPDATE Employee: CitiFinancial is not a bank,

*Consumer Comment: There may be help

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I borrowed $9,190.97. My finance charge alone is $6,039.17. After five years I will have paid $15,230.14. When I realized how much I was paying in interest payments I immediately called them to ask if they would lower my interest rate. They told me there was nothing they could do, even though I have never missed a payment nor was I ever late with my payments. They said I would have to refinance and run another credit check and that would make the life of the loan longer.

Hilton
Brooklyn center, Minnesota
U.S.A.

This report was posted on Ripoff Report on 08/20/2008 11:23 PM and is a permanent record located here: http://www.ripoffreport.com/r/Citifinancial-Servicesinc/Crystal-Minnesota-55428-3969/Citifinancial-Servicesinc-They-issue-me-a-loan-at-2175-interest-and-my-credit-was-not-h-365202. 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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REBUTTALS & REPLIES:
0Author 5Consumer 0Employee/Owner
Updates & Rebuttals

#1 UPDATE Employee

CitiFinancial is not a bank,

AUTHOR: Citifiemployed - (U.S.A.)

we borrow the money at a certain rate, mark it up to make a profit and "sell" it to you.

Don't worry, make your payments on time and you will be paid off in 5 years. The interest rate was ok when you needed the money.

If you come upon a hardship, (lose your job, etc) They may be able to lower your payments by extending the term of your loan.
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#2 UPDATE Employee

CitiFinancial is not a bank,

AUTHOR: Citifiemployed - (U.S.A.)

we borrow the money at a certain rate, mark it up to make a profit and "sell" it to you.

Don't worry, make your payments on time and you will be paid off in 5 years. The interest rate was ok when you needed the money.

If you come upon a hardship, (lose your job, etc) They may be able to lower your payments by extending the term of your loan.
Respond to this report!
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#3 UPDATE Employee

CitiFinancial is not a bank,

AUTHOR: Citifiemployed - (U.S.A.)

we borrow the money at a certain rate, mark it up to make a profit and "sell" it to you.

Don't worry, make your payments on time and you will be paid off in 5 years. The interest rate was ok when you needed the money.

If you come upon a hardship, (lose your job, etc) They may be able to lower your payments by extending the term of your loan.
Respond to this report!
What's this?

#4 UPDATE Employee

CitiFinancial is not a bank,

AUTHOR: Citifiemployed - (U.S.A.)

we borrow the money at a certain rate, mark it up to make a profit and "sell" it to you.

Don't worry, make your payments on time and you will be paid off in 5 years. The interest rate was ok when you needed the money.

If you come upon a hardship, (lose your job, etc) They may be able to lower your payments by extending the term of your loan.
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#5 Consumer Comment

There may be help

AUTHOR: Northwest - (U.S.A.)

First, I am puzzled that you did not know the interest rate or how much interst you would be paying before you accepted the loan. Having said that, is it possible to get a better loan from another lender to pay this one off?
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