Citifinancial will rip you off total balance does not go down much if any 90% goes to intrest my last payment all of it went to intrest Whiteville North Carolina

Funny. I have a loan with Citifinancial. I'm now into the fourth year and almost 50% of my payment still goes to interest. Aside from that, my payment is 180.00 roughly and I paid 360.00. Then I get a bill in the mail that says I have a late payment and fees. When I called the office I was told it was from March of 2007. My husband called the office and was told that there was no late fees or payment. Seriously? We all know Citi does not allow you to go delinquent that long. And if in fact that was the case, one would think that making overpayments along the way, that would have been resolved. In my opinion of years with Citifinancial, the only thing there logo umbrella stands for is a cover up of the dirty, unfair practices that I see as everyday common occurences across the country.

How long have you had your account. After 6 months you can see if you can lower your payments or your interest rate. Remember, most loans are for 5 years, during the first 2 years is mostly interest, then the last few years you will see more going to the balance. Make sure you are paying every 30 days, and if you can avoid do not allow any deferments or "skipping of payments"

If you stop paying your interest due will go sky high, you will get late fees and attorney fees, your balance will grow and grow.

If there has been a change in your situation from when you got the loan, and you can no longer afford the payment you are making, call the branch and explain your situation.

If you stop paying and have to go the legal route it will cost you much more.

Didja read that paper they put in front of you to sign? It would have told you exactly how many payments (divide by 12 and thet is how many years) the loan was for and at what interest rate. Take $5 to the nearest Wal-Mart and ask them for a calculator. They have 'em that don't even need no batteries now. Dig out that paperwork you got when you signed for the loan (unless you and your brother-in-law used it to make paper mache duck decoys) and go over it again.

NOBODY should have to make 2 to 3 times their monthly payment just to see some reduction in the principal especially if there was a stated interest rate up front at fixed rate- but this practice is another example of what has created the current credit demise in America and unscrupulous overly reasonable interest scheme practices like this to screw people over and steal their monies from them entrapping them in an interest rut many can never get clear of!!

They at Citi know it as do their ruthless brokers and other greed driven associates who only care about commissions and profit and not about ethical reasonable business finance practices; and I for one will work with federal agents who contact me to investigate these people and their deceptive loan granting practices and interest entrapment so many people are caught in.

Hell, the initial loan was based on a persons' income standing and creditworthiness, NOT based on whether or not they can make 2-3 times the payment per month and this is the bait & switch point of the transaction after-the-fact. It is wrong and it is unethical a company can do this to people who are told to make 3 times the payment each month just to get the loan paid off on time which is what the original finance terms were supposed to do and do not with Citi...

If you start double or triling your payment you will see much better results, they lent this too you to make big bucks back.

It sounds correct still owing 6600 on a 7500 loan 2 years later, thats about 45 principal 155 interest, send them 400 to 600 per month and watch it get paid off in around 18-22 months.

That Was Easy,
no I don't work for Staples.