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Report: #184123

Complaint Review: Beneficial - Household Finance - Spring Lake North Carolina

  • Submitted:
  • Updated:
  • Reported By: Sunapee New Hampshire
  • Author Confirmed What's this?
  • Why?
  • Beneficial - Household Finance 316-G Highway 210 North Spring Lake, North Carolina U.S.A.

Beneficial - Household Finance And HSBC Group An Unwanted Side Loan ripoff Spring Lake North Carolina

*Author of original report: Still Paying These Scammers

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I was looking into refinancing my home in North Carolina in June 2002 to help pay off some bills. I looked through the yellow pages and called Beneficial and explained to them what I wanted to do.

Beneficial arranged for an appraisal of my home. After the appraisal was done, they called me to come into the office that week to complete the paperwork for the home mortgage refinancing. They told me at that time I also qualified for a home equity side loan of $12,000, with my home as security for the side loan. They gave me the impression that I could not get the mortgage refinanced without accepting the side loan as well.

I retired in 2004, sold my home, and relocated, but am still stuck with this ridiculous side loan. The balance never seems to go down, even though I no longer use any money from that loan. The interest rates are outrageous.

I may be stuck paying on this until the balance is paid off, but it could be at some point that someone will realize that Beneficial has a sneaky way of making you think you're getting a good deal.

I learned one thing from this. I'll be very careful if and when I need another loan -- and it won't be from Beneficial, Household Finance, or any HSBC Group company.

If this helps just one person to stay away from Beneficial and other companies like them, it will be worth it.

Suzanne
Sunapee, New Hampshire
U.S.A.

This report was posted on Ripoff Report on 03/30/2006 02:24 PM and is a permanent record located here: https://www.ripoffreport.com/reports/beneficial-household-finance/spring-lake-north-carolina-28390/beneficial-household-finance-and-hsbc-group-an-unwanted-side-loan-ripoff-spring-lake-nor-184123. 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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#1 Author of original report

Still Paying These Scammers

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

POSTED: Tuesday, April 11, 2006

Looking at my latest bill from these scam artists -- $27 of my monthly payment went to the principal and the rest went towards the finance charges! This has been going on for me for 4 years. At this rate, it will take an eternity to pay off the remaining balance. Someone needs to put this company out of business so they can no longer take advantage of the rest of us!!

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