Report: #443207

Complaint Review: Radio Shack / citi Bank

  • Submitted: Mon, April 13, 2009
  • Updated: Mon, April 13, 2009
  • Reported By: sumter South Carolina
  • Radio Shack / citi Bank
    Jasmine Mall
    Sumter, South Carolina

Radio Shack / citi Bank loan sharking. Excessive and crippling over charges. Abusive use of fines Sumter South Carolina

*Consumer Comment: Bottom line is you must pay

*UPDATE Employee: Should i fell guilty?

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I bought a computer from Radio Shack a little about than ten years ago, the payments were being made on it as well as a few other items for a total cost of about $2300.
There were times that I did make some payments late because of the amount of debt I was in and unable to pay everything on time.

In the end of what should have been nearing the end of that relationship my statements indicated that I owed $3500, I had paid about $2900 on the $2300 that I owed. After inquiring what that was about, they (one of the representatives Citi Bank) said it was due to fines and fees for late payments. I could not and still do not understand how you can respond to someone having a problem paying a bill by compounding their dept. It is not an effective deterrent or punishment for someone having such a problem neither is it moral.

After trying to adjust and pay the bill I realized that I couldn't, I tried to get them to work something out with me but they had referred me to a collection agency that demanded that I paid what was owed (reduced but still much more than the original Purchase.) So I refused to pay and continue to do so until this be brought to court. I wanted to know if Loan sharking is legal and that this is what our soldier's sailors and air men/woman know that they are sacrificing their lives, time and youth to defend. From that time until now I have been passed off from one collector to the other.

I have learned this is the strategy of the predator lenders to force payment from people they have victimized, strangling their financial creditability until they have their ill-gotten gains. I wonder now if they will be one of the many ill responsible crooks going to Washington with their hands out needing their victims to bail them out. Like henchmen, collection agencies can also sell debts indefinitely and continue reporting you to credit reporting agencies indefinitely. Debt is a financial enterprise.

sumter, South Carolina
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This report was posted on Ripoff Report on 04/13/2009 10:53 AM 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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#1 Consumer Comment

Bottom line is you must pay

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

Ok, you get a loan, you are late with payments and are saying its not "moral" for the bank to do this? What about you not paying your bill? Why is that ok? There was an agreement between you and the bank, they held up their end, you haven't, and yet YOU are the victim? With all due respect, sir, you sound like a bum. Pay your bills. And they cut you a break on the price and you still refuse to pay? You have no case. You are living beyond your means and now you must pay.
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#2 UPDATE Employee

Should i fell guilty?

AUTHOR: Luke - (United States of America)

I've been at the Shack for 10 years,  and my bosses have always encouraged $10 a month payments on things that were less than $416.

I've never ever followed that practice with customers.   If you were my customer,  i would have told you that you have 1 year to pay off this computer.   You could pay the $10 a month but if you did you would never pay it off cause of the interest.

What you should do 10/2300.   You should make 10 payments of 230 and you would have been done in 10 months.

That might be really high monthly but in hindsight it sure is better than $2900
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