Thanks to the economic problems, our family was left with minimal income. We are aware our financial problems are ours and we, in the end, opted to open our own business... Which is beginning to show revenue. With a perfect credit history, we went to American General Finance to request a reduced interest rate or to refinance a $3400 loan to include collateral. The interest rate... We were stunned to find out... Had been raised to 29.75%.
When making the request we were informed that no one was going to refinance it, they would not reduce the interest rate, and there was no one who could help us. They blatently refused to run our credit because (her words) "no one is giving out loans right now." I responded with "In this economic situation, other lenders have been willing to.." when she cut me off to inform me that the economy was strong. We left and decided this company would get paid after our other bills.
When we got behind the next month, the company began calling multiple times a day. We told them we would pay them when we could afford it. Then, they started showing up on our door. We were only 30 days behind on this pathetic loan with an outrageous interest rate.
What's worse? We were idiots for taking a second loan out with them to begin with!!! The first time we took out a $1500 loan and we were told we could pay it off within 60 days and there would be 0% interest. So, we paid it off within 30 days. Guess what??? They told us we were still responsible for all the interest on the loan because (their words) "that's why we are in business. Why would we loan you the money if we were not going to get the interest?" I refused to pay because I had it in writing. When they were interested in giving us another loan... They were suddenly willing to wipe the other debt off because we "have the evidence to prove it should not have been charged."
Now... This company is going to be the very last company I ever send money to.in fact, they may not get paid until my estate is settled... And that is a LOOOONNNNNNNGGGGGG way off!!!
STAY AWAY from American General Finance... They are thieves, stalkers, and liars!!!
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