Citifinancial Retail Services Holds payments until they are late so they can assess late fees Tempe Arizona
Aside from calling me on the phone from 7:00a.m. until 9 p.m. twelve times everyday including Sunday, this company stopped sending me bills for three months until my 90 days same as cash offer expired. I had only received one bill from them before they stopped sending it and with many other bills to pay, I never noticed one was missing. As soon as I did I called them to confirm they still had my address ( they did). Then they sent me two bills that came on the same day, which included three months of late fees. Then my interest rate became 29.9%.
So I made three payments including late fees plus an extra hundred to catch up. Sent it on the 8th of the month, and it is the 27th of the month now. They claim they "never received " my payment. The same day I sent the check to Citifinancial Retail Svs, i sent three other checks out and everyone of them has cleared the bank a long time ago. Now I feel like I will have to send the payments certified mail, Return Receipt Requested in order to prove they got it.
I see some other people are having this same problem. They must have some kind of scam going.
Alex
seminole, Florida
U.S.A.
1 Updates & Rebuttals
Noir
City,Michigan,
U.S.A.
They Do Have a Scam Going...
#2Consumer Suggestion
Sat, June 27, 2009
...and they rely on people like you to keep it going.
If they are calling you then you have been late at least once. The TOS you agreed to when you received the loan was likely convoluted and hard to understand, but these terms were stated in it. Companies like this rely on giving loans to people like you who do not bother to examine what they are agreeing to.
The interest rate was also there probably buried somewhere in the fine print, but it was there. These companies are very smart and operate just shy of crossing the law in unfair business practices.
If your loan is backed by a credit card (i.e. it was a cash advance against a credit card issues by Citi) you may see some relief in 2010 when new credit card legislation will go into effect. But that is a big IF....until then your best bet is to either try to obtain financing that will let you pay off this loan in full or to pay your bill well in advance using a method that provides a tracking number.