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I borrowed $10.000.00 from Citifinancial on a consolidation basis. I've never missed a payment. I borrowed this loan in 2003 and they are saying I'm still owing money today 2009.

I've already paid that loan back twice- $23.000.00. Why are they doing these thing to other people. Why do the goverments allow this to happen to consumers. Why can't they be stopped.

It hurt me a lot to know I make sure every month to pay them back and leave my kids without food or clothing and I do it all because I don't like they representative calling me at work or home harrassing me.

Many nights I lay in my bed and cry as it seem I will never ever be able to end a stop to this. Why? Don't you have kids too and a mother and father who are elderly and you have to provide for them.

I'm sorry I ver picked up that phone when they called me. I never thought that someone can take advantage of another person like this.

Location: Toronto, Ontario

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Guest

I feel your pain, citi-financial, did the same thing to my elderly parents, 70+ And 80+ yes old

They have been forced into a bankruptcy that takes almost all they have to live on monthly. But I'm gonna make it my mission to get help for them as they too can barely buy food. Keep ur head up and God Bless.

Guest

Brian!! Shut the *** up... Why dont you take out a loan from them since you know so much

Guest

we have paid 9,ooo.oo on a 5,000.oo loan. And I still owe eight grand. Its sickening and I wish there were still morals left in the jackarses that do this do hard working people with families to support.

Guest

I borrowed 6000 from citifiancial..and after 7-8 mths of paying 300 pymnt eeach mth..when i went tp pay the debt off they said..i still owe them 6000..so whre did all my money go..

Guest

those of you who agrees with citi fanincial are their empoyees who *** like they do they really are ripper stockers and they *** thay are a big scam mother;;;;;!

Nice line, makes a lot of sense. ripper stockers LOL

Guest

those of you who agrees with citi fanincial are their empoyees who sucks like they do they really are ripper stockers and they sucks thay are a big scam mother;;;;;!

Guest

For DHJenkins, is used a simple auto loan calculator (bankrate.com). If loan amount was only 22k (this is not citi fault but where ever you bought the car and should have read the contract) the rate would be around 10% (not 50%).

Also most citi auto loan are simple interest which means you take balance * rate /365 days. Example 18000* 10%=1800/365 which means daily interest of 4.93 a day. When you make a payment you must pay interest since last payment (number of days since last payment, not due date but payment date *4.93). So if has been 40 days would be 40 *4.93 197.20 in interest then rest to principle.

These are only example numbers and not of your loan exactly just for example.

Now you said you didnt pay for a month so i assume you went at least 60 days since last payment. If you look at my example above you could see how by skipping a month you had a lot of interest due. Just because you did not pay does not mean there is not interest still due. Also by doing this less is going to principle and your loan will not pay off in time alloted.

When you finish your term of 5 years you will have one large last payment left due to not paying every 30 days. This is simple interest and how it works.

Guest

I've gone through almost all of these complaints because I got one of those checks for $5K they send out in the mail. It seems like the only people complaining are people who, for the most part, didn't make their payment on time, didn't read or understand their loan contract, don't understand mortgages (on a 30yr fixed, you'll pay at least 3x the original price, regardless of which mortgage company you use) or screwed up in some other way.

I'd like to hear from some people who have *never* missed a payment, didn't get their car repo'ed, didn't lose their job and "ask for a break", etc... Listening to most of you is actually talking me into looking into the loan.

Guest

i got 2007 Toyota in 2007. the price of the car was 18075 three years later my balance is 17250!!!!!!!!!!

i pay 470 222 goes to "interest" and 250 or so to the actual "balance" how is this fair?

does it make sense if someone cant pay a moth to charge em double!

and my credit is good. dammit! what happned was i got a 2005 mustang for 570 a month then afteri realized i might kill myself in it cause it wasnt safe. two days later i take it back and ask for another car.

she "traded in" the mustang for less then the loan and applied the difference to the toyota! so now im paying 22k for an 18k dollar car! i would not have put ONE payment at the end if they would have told me about the 50% interest rate that applied!!!!!!!!!!!!!!!! wtf is wrong with greedy people!

ive actually given them like 13000 dollars!!! and my balance is still at 17200 thanks to interest. this makes zero sense. i will pursue this in court because this is morally incorrect WHO ON THIS EARTH WOULD SIGN-UP FOR 50% interest!!!!!!!!!!!!

its grounds for a public beheading! WE DID IT TO SADDAM!

these people are robbing us! the loan said i had to pay off 22k and i asked her if it included everything i had to payback she said yes.

Guest

For james you need to get all the facts straight before complaining on here. If he got a 72k mortgage then they gave him the money for his roof and combined all his debts into one lower pymnt and lower rate to help him get out of debt.

Also the 142k would if you continue to make normal monthly payment and do not pay off early, this is not the pay off. Look at a mortgage caculator online and you will see mortgage are very expensive and you can pay back 2-3 times what you borrow depending on rate and term. Obiouvsly you knew the rate when you borrowed your money and your dad knew the rate when he borrowed it.

No one put a gun to your head and forced you to get the loan. It is same as shopping for a car, if you do not like the price go somewhere else, but besides a bank good luck finding a better rate.

Guest

It seems that CitiFinancial has coned alot of people into loans that are far reaching for us consumers.

My father-in-law contacted citi finacial for a loan to fix his roof and wound up with $72,000 mortgage on his house that never had a mortgage on it. His father paid cash for his home in 1962 for $3600,that was a lot of money back then.

Since his passing we (his daughter and I) assumed the mortgage and because of the economy it has ballooned to $145,000 because of missed payments and deferring payments and interest.

Why does the government sit back and allow citizens to cornered in to loans with high interest rates. I borrowed $9,000 with an interest rate of 30% and payments $360.00 per month.

These guy's go to the government to ask for help when the economy when south and we are stuck paying. :(

Guest

For jimberly, ask for your payoff, the 9000 includes all the interest if you were to continue making normal monthly payments and did not pay off early. Your payoff would be less than that.

It all depends on what fees were on the 6k loan (maitance fee, origination fee) and what if any ins products you also took with the loan (unemployment, life ins, disability). Some of that interest would come off if you paid it off early.

It is very simple people read your contracts and disclosures before signing anything. The disclosure page shows how many payments, apr, interest for the loan, and total of the payments if you do not pay off early.

You signed these and they even have the original you signed in the file for legal purposes. Grow up and pay your bills as you agreed, you had no problem cashing their check, now pay for it!!

Guest

Hey, I really need help. I also have the exact situation.

I borrowed $6,000 and I have to pay back $12,000. Now I'm down to $9,000 so I basically paid off $3,000. So what I wanted to do was to get the payoff balance which was $6,000. I was shocked because it didn't make any sense.

I really want to get rid of this *** loan but I really dont know how to do it. Tax returns are coming up so I was planning to use that money and payoff my balance. But its way too much money. So really what should I do with this????

I know I'm an *** for even signing up for this *** loan from a ripoff company. HELP!!!!

Guest

You people obviously have bad credit to start so you have sky high interest..dont over extend yourselves!! Citifinacial auto loans are simple interest loans and when you are late you pay interest..the later the more interst if you just paid on time then you wouldnt have so many issues!!

Quit ***..people are just trying to do their jobs but you *** people always play the victim. Its your fault you are in this situation buy a bus pass next time you *** idiots :(

Guest

Wake up people...if you don't have the money in the first place, then don't buy it. America is in the economic chaos because we have financially over extended ourselves.

Please WAKE UP and realize the same thing. CREDIT CARDS are too good to be true and just like Vegas, the house always has the advantage.

Guest

Read your contracts and the total payments on 1st page of your note. For totally screwed over, you paid the 112 (interest for oct) to defer the payment to the end of the contract, you would have still been due for nov as normal. Also as any loan is the beginning is mostly interest.

Guest

Front page of federal note & disclosure, big bold box, top right of page

Guest

READ THE CONTRACT

Guest

Back in 2004 my husband and I took out a loan each from them for about $10,000, so a total of $20,000. We weren't married yet and making very good money, but wanted to build credit to purchase a home.

We were told this was the best way to do that, boy did we make a mistake. Well then about a year later my husband lost his job and was making a lot less money so Citifinancial talked us into refinancing our loans into one so our payments would be less and they will lower our interest rate. So far we have paid them about $17,000 and they say that we have only paid off $400 off of our principal. I don't understand how that can be?

Well their latest scam with us is... My husband got sick and we asked them if we could defer our Nov. payment, they said sure just come in and pay an extra $112 (which would come off of our Dec. payment anyways) with our Oct.

payment, which we did. They call us a week before our Nov. payment would've been due and tell us that even though we paid the extra last month to defer our payment we still have to pay a full payment in Nov. because the lady forgot to zero out our interest and defer the payment or we could refinance our loan.

We said no and that we couldn't pay it, the lady said she would try something else and call back. We ended up having to call her and she still said we had to make our full payment. And this is a manager that we were dealing with. They've been trying to get us to refinance since Oct.

08' and we keep telling them no. They say that they will waive the refinance fees (yeah right they are actually just going to tack them onto the loan), they also say they will lower our interest rate, but then we also lose the 10 day grace period that we have for making payments, we would have to set up auto payments and there is no way in *** that I'm doing that. Oh and for some strange reason our payments would go up by $7 a month, why I don't know. Now I don't know what to do about our Nov.

payment. I have been told by a few people just to stop paying them and if I need to file bankruptcy on the loan cause it will never be paid off. If I do that they are going to repossess my car.

And now I think my credit is in worse shape now than it was before I took out the loan and it's not like I'm missing a bunch of payments, I just have this ridiculous loan hanging over my head that will be there forever which affects my income to debt ratio. DON'T GET A LOAN THRU CITIFINACIAL!!!!!!!!

Guest

I borrowed 10,000 3 years ago, (a five year loan) have paid 6600 in the past 3 years and still owe 8000!@#@!@# what is going on with this company?? I am trying to find out.

$2000 toward principal, $4600 to interest!!!!! This doesn't seem legal.

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