Charter One Bank ripoff Cincinnati Ohio

Charter One offered a low interest equity loan with the following good faith statement:

"You will receive a lump sum of money within about 7days after the closing, and your first payment of principal and interest will be due 30 days later."

I signed and notarized all papers over 3 weeks ago and I still have not received the loan! I am expected to make my first payments next week and in the meantime I still have to pay the credit cards that I am consolidating with this loan, so for this month they put an extra burden on me.

After calling them numerous times, they kept telling me that the checks were send - one person tells me on the 18th, another person told me on the 23rd, and everyone tells me I have to wait and the contract can not be changed.

I came through with my end of the bargain and I expect them to do the same. It is unheard of that you have to wait almost 4 weeks to get the loan after closing and then be expected to immediate make a first payment.

Their customer service is short, unfriendly and incooperative. I should have taken the advise of the many complaints and stayed away from this business. If you considering them, don't do it! You will regret it.

Sabine
Stockton, California
U.S.A.