My business has done financing through CitiFinancial Retail Services for approximately 5 years now. This year, I get a letter stating that they are terminating our Dealer Agreement. The reason? We do not give them enough, therefore we must be using another company. Fact is, WE DO NOT. We are located in Detroit, Michigan. It is because of CitiFinancials HIGH RATE of turn-downs that we do not give them what they think we should.
The letter stated that we could still send Applications and wecould FUND TRANSACTIONS (get paid) until 30 days from the letter date. We got the letter December 12. On December 18, I ran a sale for $1470. That was approved by Citi and the settlement that night was "ok". One week later, we get a fax telling us that the amount had been taken back out of our account regarding the letter sent to us. A letter that stated, and a Citi rep agreed after seeing it when I faxed it to him, that we could run sales through. They said it was the wrong letter. Is that my fault?
After being told the money would be put back, I had to call them when I found it wasn't, to find out they needed more paperwork. We have been in business 26 years, and they now question our honesty??? Not to mention the fact that we have less in our checking than we should, because of Citi. Calls are not returned unless I hound them, information has to almost be pryed out of reps. This "company" abviously has not care one for its customers.
0 comments