CitiFinancial Retail Services
Dealer Agreement Terminated and $1,470 Sale Taken Back

My business has done financing through CitiFinancial Retail Services for approximately 5 years now. This year, I received a letter stating that they are terminating our Dealer Agreement. The reason? We do not give them enough business, so they say we must be using another company. The fact is, we do not. We are located in Detroit, Michigan. It is because of CitiFinancial's 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 we could fund transactions (get paid) until 30 days from the letter date. We got the letter on 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 got a fax telling us that the amount had been taken back out of our account because of the letter sent to us. That letter 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, only to learn that they needed more paperwork. We have been in business 26 years, and they now question our honesty? Not to mention that we have less in our checking account than we should, because of Citi. Calls are not returned unless I hound them, and information has to almost be pried out of reps. This company obviously does not care one bit for its customers.

Company: CitiFinancial Retail Services
Country: USA
State: Delaware
City: Wilmington
Address: 4500 New Linden Hill Rd
Phone: 8002525124

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