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Report: #439067

Complaint Review: American General Financial Services - Evansville Indiana

  • Submitted:
  • Updated:
  • Reported By: Salem Indiana
  • American General Financial Services 601 N.W. Second Street; P.O. Box 59 Evansville, Indiana U.S.A.

American General Financial Services Dirty rotten scoundrels : With these interest rates I don't know why they needed a bailout!!!! Evansville Indiana

*Consumer Comment: read before you sign

*UPDATE Employee: Read Your Documents

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I received a loan from this co. in June of 2006 for $1,500.00 refinanced in Spet of 2006 for an additional $400.00. Called Jan 2009 to get payoff amount and was shocked to find out my payoff amount was still close to $2,000.00. My mother was a cosigner for these loans and I immediately gave her a call. She was also stunned at the amount. I called back the following day and spoke with a manager, he began looking into my account to see if he could give me an answer on why the payoff was so high. He started explaining my account and stated that I had the original loan for 1500.00, then refinanced twice, once for 400.00 and a second time for 500.00. I was certain I had only refinanced the loan one time. I called my mother to see if maybe I just didn't remember the third loan and she also was certain I only received two loans from them. I called the office and asked if I could pick up copies of all three loan agreements and he said that would be fine. I went and picked up the copies which were in a large manilla envelope and went straight to my mothers so we could go over the papers together. We were suprised that the jerk had only given us one copy which was signed by me. My mothers signature was nowhere on these documents. I called back and asked for copies of ALL three signed agreements and he stated that when I refinanced the loans that the original agreements with signatures were given to me and they no longer had signed copies of two of the loans. I then asked for copies of cleared checks picked them up and only two had ANY information on them. no signature, no tracking information...nothing.

I have spoken with some of the "TOP DOGS" and filed a complaint with the BBB. This co. has also been charging me interest rates in the mid 30's. I have researched state and federal usury rates and the most they are able to charge is 4% over the federal limit which is 19%. I signed a paper saying I have to go through the arbitration process and am unable to file a lawsuit against this co. I am not sure what steps to take to get this resolved, but this should be illegal. I cannot BELIEVE this Co. received a bailout. With the interest rates and fees they charge they should be doing just fine!

Holly c
Salem, Indiana
U.S.A.

This report was posted on Ripoff Report on 03/30/2009 10:02 AM and is a permanent record located here: https://www.ripoffreport.com/reports/american-general-financial-services/evansville-indiana-47701/american-general-financial-services-dirty-rotten-scoundrels-with-these-interest-rates-i-439067. 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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#2 Consumer Comment

read before you sign

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

POSTED: Thursday, May 21, 2009
I have had 2 or 3 loans with american general and have not had a problem with them. yes the interest rate is very high you must read all documents before you sign anything. First american general should be explaing everything to you how much the interst rate will be how much yr note should be and so on. The bottom line is if you dont want high interest rates then dont go to a finance company go to a bank there interest rates are a lot lower. Dont blame the messenger cause he delivered yr message. read before you sign anything whether its a finance company or a bank or anything else.
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#1 UPDATE Employee

Read Your Documents

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

POSTED: Sunday, May 17, 2009
Finance companies are not banks or credit unions and always have higher interest rates. Did someone force you to get that high interest loan or refinance it? Did you not see the interest rate on the first page of the note? They must have the current note's signature and how much you agreed to borrow in principal and payments.

It is standard practice in most finance companies to give customers back their signed note papers once the loan is settled.

I'm sorry that you are disatisfied, but this does not seem like a valid complaint.
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