Citifinancial Mortgage Ripoff unfair collection practices deception threats Coppell Texas

I was part of the class action suit action Citifinancial and on January 28, 2004, I received a letter from citifinancial stating that they received my settlement check from the FTC lawsuit and they would apply to the principal of my loan.

I spoke to two people from citifinancal customer service and told them i was never informed that the settlement check would go straight to citifinancial.

I then asked the people from Citifinancial that I would like the settlement check applied to two mortgage payments, a payment due to the escrow account and the rest could be applied to the principal. I was informed that would be arranged and to except the settlement check to be applied the way that I asked it to be.

Well that never happened, to this date my account has only received $420.00 out of $1,429.09 which is sitting in escrow.

I have been told by Citifinancial to call every few days to check on the settlement money.

Needless to say, when I called Citifinancial today, March 4, 2004 my phone call was directed to the collections department, and I was told by a young man there, that Citifinancial could do what ever they wanted with the money that was up to them and that it was my responsibility to pay my payments on time and and then the young man Andre proceeded to tell me if i did not send a payment in today, he would start foreclosure proceedings against me.

I advised this young man that I was deceived by Citifinancial and his reply was that I was "misinformed". I have contacted the Federal Trade Commission and have filed a complaint.

I called Citifinancial again, and the same young man answered my call and when I asked him, it was you that I spoke to and he replied I never talked to you today. I recognized his voice and he was singing a different tune.

You see when Citifinancial settled that lawsuit, they wanted to make sure all the consumers checks were applied to their prinicipal so in reality Citifinancial didn't lose one single dime.

If I am late on a payment, they threaten foreclosure, if i am late on my taxes they threaten foreclosure.

Predatory lenders like Citifinancial who prey on low income, high credit risk and senior citizens who go to any lengths to take homes away from people. They charge high interests rates so that the consumer is paying the interest on the first 10 years of their loan.

The lawsuit that Citifinancial settled was for snowjobing people into buying credit insurance.

They have not gotten slammed with a lawsuit for unfair debt practices and that is what they need. They need to be put out of business so that they cannot prey on the consumer anymore.

Bonnie
pittsburgh, Pennsylvania
U.S.A.