Report: #264431

Complaint Review: Beneficial Finance

  • Submitted: Tue, July 31, 2007
  • Updated: Tue, July 31, 2007
  • Reported By: Smithfield Pennsylvania
  • Beneficial Finance
    934 Morgantown St.
    Uniontown, Pennsylvania

Beneficial Finance Paid them $1000's of dollars for a loan we didn't get. And still paying! Ripoff Uniontown Pennsylvania

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In 1997 we borrowed $6,000. to buy a boat from a couple we knew that were in poor health. Both have since passed. (98& 99) We went in to refinance the loan about a yr later because the interest rate was too high and was assured that we would get it done. We filled out the papers, and got a message that we were turned down. I had changed jobs too close to the date of trying to re-apply. So we just paid. In 1999 I noticed that the bill was getting higher and higher instead of going down. I called the service no to be told " oh thats interest added to the loan... a couple yrs later I was getting upset about this loan and everytime I tried to find out why it was up to 16,000. I got told "you were late with some payments.. and more deferred interest was added. Since then we are still in debt to them for almost $18,000. When I went to the office in Uniontown Pa. I was handed a paper that said we borrowed $18,000 to buy property. It said we bought the property that we lived on with their money...NOT! We owned this property clear since 1986. They made us give them the deed to our property for the initial loan of $6,000. When I called them on this, some irate woman said " if this happened, why are you just now saying something" when I tried to explain, she got angry which made me angry, I never got a chance to tell about the things happening over the yrs. As of this moment, we have paid them over $40,000. on a $6,000. loan.

We are afraid to not pay them because they threatened us that they would take our home. WE are in our 50's and have worked hard to have what we do have. This company, has benn sent numerous letters, and phone calls. I wanted a copy of the papers and the cancelled check that we supposedly got for $18,000. almost 3 months later I have received nothing from them but a copy of a loan paper we signed in 1998 to refinance, no amount shown. I sent those to 2 different places...Ill. and Calif. no response. I kept copies of them in my computer...dated. I need someone to help me stop them from getting anymore money from me plus anyone else that might be out there in a similar situation. Someone that isn't afraid to go after a big company.

Smithfield, Pennsylvania
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This report was posted on Ripoff Report on 07/31/2007 04:24 PM and is a permanent record located here: 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. READ: Foreign websites steal our content

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