After recently becoming a victim of Identity Theft I was advised by my attorney to review my accounts. In 1999 I opened an account with beneficial finance in Pasadena my payments were approx. $379.00 per month for a total of 48 months. However in the process I did make an estimated total of 10 late payments and as of 06/01/2004 I still owe Beneficial a balance of $4,340 I could not understand how 10 late payments that were never the less paid; just not on time accumulated into $ 9,340 worth of interest this was approx. the amount of the original loan in question.
I immediately contacted my branch office to question the excess charges, of which they could give no account. I physically went in to my branch office in Pasadena Ca.
They referred me to several different entities within their corporation, such as collections whom then referred me to customer service whom in return referred me back to my branch.
I did request to again speak with the branch manager who is customer service retarded, however she seemed to have amazingly disappeared and fallen off the face of the earth when I called back 20 min. later.
I also requested to speak with the customer service rep whom was very courteous and customer service orientated, yet had no knowledge of the daily functions of the general office staff or the company as a whole; she had no more to offer than a smile, a multitude of I don't knows".
I have yet to have any of my questions answered and I am currently paying the balance from which they say I owe. I will never do business with Beneficial Finance nor would I refer a dog to buy a bone from them in the future.
An attorney is currently reviewing the excess charges for yet another class action grievance. Please be aware of the practices and procedures of this loan organization.
Better Business Bureau Complaint. 2004
Federal Trade Commission Reported. 2004