Citi Financial
Home Equity Loan at 20.99% Interest for Bill Consolidation

My husband and I went to Citi Financial last August looking to consolidate some bills. We went in with high hopes because they seemed so interested in helping us with our situation over the phone.

The lady working on our application said that our credit scores were great, which we already knew because we are subscribers to Credit Inform. She said we qualified for a home equity 1 loan. We were so excited to finally get out from under the pressure of some of our bills. Little did we know that the pressure was going to get worse.

The loan officer told us that our interest rate was going to be 20.99%. She said that since our credit was so good, we avoided getting the 25.99% rate. My husband and I were speechless.

There was nothing we could do. We didn't have the time to apply anywhere else. We were in such a financial mess. We were not behind on our bills yet, but we had lost some of our monthly income. We had to take the hand that was dealt to us, and she knew that.

I would advise anyone who has the time to weigh their options to stay away from Citifinancial. I am suffering through a loan payment that is literally half interest and half payment. By the time my husband and I pay off this loan (in the next 4 1/2 years), we will have paid them almost $9,000.00 in interest, and that is only $3,500.00 shy of what we borrowed.

Company: Citi Financial
Country: USA
State: Tennessee
City: Paris
Address: 1055 Mineral Wells Ave
Phone: 7316421663

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