Complaint Review: Beneficial

My husband and I refinanced our first and second
mortgages through Beneficial.

Since our home was not appraised high enough to cover the twomortgages, Beneficial gave us a line of credit to make up the difference, $15,000.

At the time of signing, Lena Fetteroff said the mortgage and line of credit would be the same rate 10.97%.

When we received the first statement a month later
the line of credit had a rate of 22.98% listed on it.
We could not believe it. To make a long story short they ripped us off, Lena Fetteroff out and out lied to us. We requested copies of all the paper work, which by the way Beneficial never included any copies of the line of credit in any of the papers they originally gave us. They did send a copy of the paper with oursignatures on it, we figured it was a fake put together by
Beneficial or we must of signed a blank paper the day of signing and Beneficial later filled in the 22.98%, since we had no copy in our
possession.

So of course a month later when that first statement
arrived that's when we found out they were charging us 22.98%. This girl Lena Fetteroff out and out lied. She even said that we will have the line of credit payed off in 3 years.

Don't know where she learned math but there is no way it will be payed off at that rate. We pay $300 a month with $250 of that going for the interest. The mananger Kelley Gallagher is just as bad. It is sicking how these people can legally get away with this ripping the consumer off.

Beware of Beneficial and their deceptive business ripoffs. My best advice, never ever do any kind of business with Beneficical.

Theresa
Pottsville, Pennsylvania
U.S.A.