I have experienced huge problems with Household Finance/Beneficial over the past two years.in 1999, I borrowed a total of $3,000 at a rate of $28% making payments of $112 per month without fail. So far, I have paid them $2,225. My current balance is $2,593 over 2 1/2 years later! You do the math. Even with an interest rate this ridiculous, my balance should not be this high.
As if a 28% interest rate isn't bad enough, I recently found out that they were charging me daily interest certain times of the month. They also tacked on five different kinds of "insurance", i.E., disability, unemployment, life, etc. I never asked for such insurance and certainly do not want to pay for it.
I've had it with this company and have contacted the BBB and the Federal Trade Commission regarding their abusive lending practices.
PLEASE, Please, Please if you are reading this and fall on hard times in the future; whatever you do, NEVER borrow money from Beneficial. They are absolute crooks! And the worst part is that they are allowed to continue in business. BEWARE!!!
Denise
Pasadena, California
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