Complaint / review text:
Citicorp Trust Bank (Maryland) would put my phone on an automatic dialer and call every 15 minutes of the day. I was choking on high interest and payments were 30-60 days late. They would call and threaten credit reporting and forclosure. They would demand payment by a certain day and even time! They even went as far as contacting a relative and disclosed my mortgage default. This relative never even knew I had this loan! They even called my employer! I was so very desperate to find another company that I Went to Beneficial HSBC (CT. Office) Payments go to Illinois! I was at their mercy! The interest rate is over 11% and is supposed to drop to 8% over an eight year period. My $63,000 Citicorp loan is now over $110,000 with Beneficial! They would not finance without my auto loan incorporated!
The loan paid some medical and back taxes. I asked Beneficial not to escrow property taxes but at the closing they said they would arrange to remove the escrow but this never happened! Again, I am facing foreclosure
due to employment and health issues. Not one word was ever mentioned concerning insuring the loan! Both companys had no problem taking advantage of the low credit scores and placing the consumer into hardship with very high interest. I am now on food stamps and on the way to being homeless thanks to these high interest greedy people! People need to take a stand before it is too late!!