• Report: #159613

Complaint Review: Primerica | Ripoff Report Verified Safe

  • Submitted: Wed, October 05, 2005
  • Updated: Tue, February 05, 2013

  • Reported By:Peoria Arizona
Primerica | Ripoff Report Verified Safe
1111 Northpoint Dr Coppell, Texas United States of America

Primerica REVIEW: Primerica offers excellent business opportunities & stands behind its products & services, feel confident & secure when doing business with Primerica, backed by Ripoff Report's Corporate Advocacy Business Remediation & Customer Satisfaction Program. Pasadena California
*UPDATE: Primerica offers a good business opportunity & stands behind its products & services - Company Executives have told RipOff Report that Primerica pledges to resolve complaints & address any inquires from the past, present & in the future.

*Consumer Suggestion: They've got all the bases covered. The only way to avoid getting cheated is to avoid them in the first place.

*Author of original report: They are cheats

*Consumer Suggestion: This is the exact loan they brag about. It's supposed to get you out of debt faster. All it does is rip you off.

*Consumer Comment: My experience was VERY similar to Samantha's

*Consumer Suggestion: Your complaint is a perfect example of the way these companies rip off consumers. I wish that everyone in America could read this.

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*UPDATE: Ripoff Report re-evaluated Primerica Financial Services and finds that the company continues to offer a business opportunity that is well worth considering. Thru our experience with Primerica, we continue to find that they maintain a high level of commitment to treating consumers fairly and in most cases they have gone way beyond the call of good customer service. Since Primerica became a member of the Corporate Advocacy Business Remediation & Customer Satisfaction Program almost 2 years ago, Rip-off Report has continued to monitor Primerica and work closely with home office executives to resolve consumer and agent inquiries and concerns. Ripoff Report is pleased to report that Primerica continues to show outstanding commitment and dedication to respond and resolve issues promptly, many times going over and above the expectations of consumers and this website. To our knowledge Primerica has responded to all legitimate inquiries we have forwarded to them, and to inquiries the company has received directly. We at Ripoff Report believe that Primerica is a solid, reliable company that stands behind their agents and its products. If you think that becoming a Primericarepresentative or buying a Primerica product is right for you, we would urge you to give the company careful consideration.
Primerica is Ripoff Report Verified
Ripoff Report Verified .. part of Ripoff Report Corporate Advocacy Business Remediation & Customer Satisfaction Program.
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=====================NOW TO THE ORIGINAL REPORT THAT WAS FILED=====================

*UPDATE Ripoff Report REVIEW:

EDitor's Comment: Primerica gets a POSITIVE RATING in customer support from Rip-off Report and is fulfilling its commitment to provide excellent customer service. Primerica pledges to resolve complaints and address representative issues. For a long time this EDitor had concerns about Primerica because of the number of Reports about them. For many months Rip-off Report was looking into the company, even before they contacted us to resolve any issues and mostly misunderstandings being posted by competitors. With over 100,000 representatives and 6 million clients, Primerica is bound to be the subject of a certain number of complaints about improper agent conduct, as well as product and administrative complaints.

Rip-Off's investigation found such complaints, but importantly also found that Primerica is committed to resolving such complaints quickly and doing everything possible to satisfy its clients. It also takes appropriate action against any of its representatives who are found to have conducted themselves improperly or unethically. We believe that the number of complaints against this company, whether through the Internet or other channels, is small when put into the context of its enormous size. Most big companies would never commit themselves like Primerica has. Read our investigative Report and Primerica's commitment to 100% consumer satisfaction.


www.primerica.com provides products and services through independent representatives. Primerica www.primerica.com has more than 100,000 licensed representatives who serve more than 6 million clients in the U.S., Canada, Puerto Rico, Spain and the United Kingdom. Through a Financial Needs Analysis www.primericafna.com, the company's representatives provide a snapshot of a family's financial picture and suggest a strategy for financial security via Primerica's products and services www.primericafinancialsolutions.com. Primerica's business opportunity is attractive to people from many different backgrounds, including women www.womeninprimerica.com, African-Americans www.primericaaalc.com, Hispanics www.primericalatino.com and young adults www.generationprimerica.com.




Read about Rip-off Report Corporate Advocacy Business Remediation & Customer Satisfaction Program,..A program that benefits the consumer, assures them of complete satisfaction and confidence when doing business with a member business. this program works.

===================== THE ORIGINAL REPORT THAT WAS FILED IS BELOW

===================== Primerica Citigroup Michael Bidolli ripoff Job Career Finanacial Services Madison Heights Michigan

I can not believe that the Government is allowing this company to continue operating. I was looking for a job-I have a degree to teach Elementary School Kids.

I had to find a job because the Gov. is making drastic cutbacks in the school funding, and I can not get a teaching job. But, it allows companies like this to continue working, running, operating, and making money off of people.

I went for an interview because I was told I would have a job in Financial Services. I thought it would be more like a secretarial job. After all, Michael told me I would be hired to run, operate, hire, and train employees for the new companies that Primerica would be opening in my area.

However, my sister told me she had went to a seminar for this same company and they asked her for money to start up her own sales in Financial services.

This tipped me off, and then I discovered this site. Now I realize how currupt this company really is. I can not believe that Michael would have the nerve to ask me ( a thoughtful, honest, caring , educated, and thoughtful individual) to help with his scheme.

I am already 30,000 dollars in debt from college, and this Primerica representative knew that. Maybe he felt that he could manipulate me because I was really desperate for a job since I can not currently find a teaching job.

What ever the case may be, I don't know how he can sleep at night knowing that he is part of such a corrupt business, and being the leader to continue to lie, cheat and steal other employees.

I wonder if he even has any idea that is company is so corrupt, and currently under investigation? Or, does he even care?

I don't know every thing about finances, I went to school to teach children how to read and write(and look out for such aweful people who lie).

However, I know something is not right when the person who say's he is hiring you can not tell you exactly what he is hiring you for, and how much you will be making. Also I know that you should not have to pay to get a job (with the exception of college of course). My sister did not fall for this one as well.

If a Primerica agent is telling you that he is looking for someone to hire, train, run, and operate a new business that is expanding- Question why it is that you do not have to have any tpye of education in order to (basically) run a new business.

Oh-that's right he is going to train you! Where did the Representative get his qualifications to train you to be a business owner?

I could go on and on- I just hope that all who are in this company and being corrupt PAY! and anyone who is thinking about joining- THINK FOR YOURSELF! DO YOUR RESEARCH! INVESTIGATE THE BUSINESS AND ITS PRACTICES! DON'T GIVE ANYONE ANY MONEY! And PRAY for yourself and the Members of Primerica!

Amy Hazel Park, Michigan
U.S.A.

Click here to read other Rip Off Reports on Primerica

This report was posted on Ripoff Report on 10/05/2005 02:18 PM and is a permanent record located here: http://www.ripoffreport.com/r/Primerica-Ripoff-Report-Verified-Safe/Coppell-Texas-75019/Primerica-REVIEW-Primerica-offers-excellent-business-opportunities-stands-behind-its-pr-159613. 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.

Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report.

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Updates & Rebuttals

#1 Consumer Suggestion

They've got all the bases covered. The only way to avoid getting cheated is to avoid them in the first place.

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

When citi manages to steal billions of dollars each year, you have to assume one thing. They figured out all the angles.



They already looked at every avenue that consumers will try to use to avoid their fraud. And, they made sure each one is a dead-end.



Once you get involved with citi, nobody will come to your rescue. Citi has made sure they're immune from any outside interference.



All you can do is pay the early termination fees and take your losses.



That's exactly what most consumers end up doing.



Of course, citi and primerica don't care either way. They simply move on to the next poor sucker and proceed to clean them out too.



All you can do is avoid both citi and primerica at all costs. Anything else will cost you dearly.
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#2 Author of original report

They are cheats

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

I just wanted to update this information.



After filing the original complaint on this site (under citicorp), I contacted every organization that I could think of in trying to get this issue resolved. I contact attorney generals in Arizona, Texas and Pennsylvania. I contacted BBB in all three states, I contacted the national bank of morgage financing, and the list continues. I tried contacting the Primerica people that had convinced us into going with this program, needless to say they didn't return our calls, they would avoid us in public and my husband works as a dog groomer at Petsmart and use to groom their dogs, well they quit taking their dogs to him. I continued to make calls to the customer service department about these discrepancies and even after speaking to the loan supervisor (or whatever he calls himself), I still had not got anywhere.



When asked about why there was money that was paid that wasn't reflected, I was told that the first time was a simple "ENTRY MISTAKE". When asked about the remaining "ENTRY MISTAKES", I was told that they weren't mistakes that the other money was being applied to a seperate account setup due to the fact that there was a "Promise to Repay" on the account. (Correct me if I'm wrong but I thought when I signed the loan papers I was promising to repay the loan.)



After everything was said and done, I heard back from every agency that I sent correspondence to and found out that noone could really help. The BBB would list this as an resolved legitimate problem with this company but that was really about it. The reason for this is that this SMART loan ISN'T a mortgage loan. This loan is nothing more than an elevated credit line on a credit card. That's right. That interest is accured daily and therefore if your payment isn't received the same day everymonth you're payments won't be the same.



Example: The month of August your payment is received by citicorp on the 1st and then your September payment is received by August 28. In this instance you're ok and theoretically the additional interest that is already figured for the 1st - the 1st should then be applied as additional principal paid.



But now for the next month your payment isn't received until October 8th. At this point you won't be charged a late fee since the payment is still received before the 15th but you will be charged additional on your Novemeber statement.



You would have the additional payment like this. Since your payment wasn't received on the 28th but on the 8th you have unpaid interst that is outstanding on your account. In my case, for my loan balance, the daily accrued interest was $36.47, so now multiply that by the number of difference in days (10 in this case Sept 28 - Oct 8) that extra fee would be $364.70. This extra amount would need to be included in the next month's payment. If it's not paid with the next month's payment, the following month you would then be charged late fees and since that money is still considered past due and unpaid you still accrue interest.



This company is the biggest rip off I've ever seen before. And since they claim to be a mortgage company, credit card disputing agencies can't touch them. But due to the way that they finance the loans the mortgage disputing companies can't touch them either.



The only way this was resolved was to refinance and to just pay them their ungodly amount of an early payoff and walk away. I'm much happier now with a legitimate mortgage company, that really issues mortgages, but I do warn people to be very careful of who you let handle your loan.
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#3 Consumer Suggestion

This is the exact loan they brag about. It's supposed to get you out of debt faster. All it does is rip you off.

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

Citi calls this their smart loan. Honestly, it's probably the dumbest thing you'll ever do.



Primerica hustles this scam off to people using the con that the victim will get out of debt faster. Primerica comes in and pretends to educate you about money. That how the fraud works.



They use this fraudulent presentation to convince people that they will save money and end up out of debt faster.



That's exactly the con these companies use in order to lure people into this scam.



The truth is that this is probably the WORST loan you could ever have. A few months in, most people come to their senses and try to get out.



That's when citi hits them with this huge early payoff penalty. So, you lose no matter what you do. Whether you ride it out or pay it off early, they still make a ton of money off you.



That's exactly how citi got to be the largest fraud on the planet. Most people don't realize that this company was behind both the enron and the worldcom scams too.



You can file a complaint on this company with the OCC. That's the comptroller of currency. Look it up in google. Of course, don't hold your breath. A giant fraud like citi doesn't follow the laws or worry about some government agency.



But, your OCC complaint can't hurt. So, give it a try if you've been cheated in this scam.



For the rest of you, STAY the hell away from CITI.



Learn from the misery these people are having to deal with!
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#4 Consumer Comment

My experience was VERY similar to Samantha's

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

To make a long story short, at one point I had paid $1100.00 in advance. When the extra payment did not appear on my statement for the next three months, customer service explained that it had been placed in a "bucket". Heh..."bucket", "theft", tomato, tomah-to...



I went ahead and paid the $3000 prepayment penalty in order to go with another company and I'll STILL come out ahead in the long run. As a matter of fact, I can pay my mortgage whenever the hell I want, ONLINE. Make my monthly payment? I do it online. Pay extra principal? I do it online. Shore up my escrow? I do that online. View a complete history of all of my payments over the span of several years? I do it online. How much do these valuable services cost? FREE. (Actually, included as services of a LEGITIMATE company, which Citicorp Trust Bank is not.)



$MART LOAN = THEFT.
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#5 Consumer Suggestion

Your complaint is a perfect example of the way these companies rip off consumers. I wish that everyone in America could read this.

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

There are hundreds of complaints here from consumers who encountered some kind of fraud from primerica and citi.



And, you complaint is a perfect example of what you can expect if you get involved with these fraudulent companies. Little by little, they will bleed you dry.



When it's all said and done, Americans just like you will lose billions of dollars to this scam company.



There is only one way to keep this from happening. Don't EVER get involved with either primerica or citi in the first place.



They're like quicksand. Once you're in, there is almost no way out. Their mortgages have huge fees for early payoffs. If you ride the loan out, you will lose. And, if you try to bail out early, you will still lose.



Quicksand.



The only good here will come from your complaint. Millions of other will be able to see what happened and hopefully they will avoid making this same mistake.



Update your complaint to keep it current. Perhaps other readers in the same jam as you can contribute something they have learned about fighting this scam company.
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