My loan was transferred to Citifinancial from another bank, and that is when my problems started. I have always paid my bills on this loan early, and the amount paid was always more than what was requested. However, I started receiving statements with late fees.
After I contacted Citifinancial, I was told that if they process my payment more than 10 (ten) days prior to the due date on the bill, then the payment is actually applied to their last month's billing cycle. That makes it look like I still have not made a payment on the current statement.
How can a company charge a late fee when it receives the payment not only on time, but actually ahead of time? Now I have started getting letters from them about my account being past due when in reality it is not, and I do have a paper trail to prove it.
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