CitiFinancial Won't Let Loan Die, Trashes Your Credit

Jeffrey thought he was done paying his CitiFinancial Loan, but they kept dragging him back in. A customer service rep assured him that the final balance, $1, didn’t have to be paid. So he didn’t. This was a bad idea.

Upon paying off my secured personal loan with CitiFinancial they decided that I still owe $1 and that they need to send it to collections. I obtained the loan in August of 2007. I paid on time and on 04-05-11 I paid what I thought was my last payment.

I received another statement saying I owed $8 of interest. Figuring that this was just the leftover from my last payment I paid this on 5-9-11.

I logged in later to verify that everything was paid only to see another $1 charge. When I went back on 6-2-11 to log in I could no longer log in online. I called customer service and the woman (whose name like an idiot I did not get) said everything was paid and verified the account number. I did not put anything to this and figured probably just a dollar left over in some accounting issue.

However imagine my surprise when on 6-15-11 when my credit report monitoring told me I was a bad debt collection for $1. My score has now plummeted. I called the local office and spoke with [R] on 6-21-11. R. assured me that it would be handled by the local manager.

After a week and no phone call I call R. back and ask for an update. She informs me on 6-24 i believe that they have not heard an answer yet. After another week I call back again on 7-1-11 and Terry tells me again no answer has come back. I ask for the supervisor supposedly handling this and they are unavailable. I ask to be called ASAP and here we are the end of business 7-5-11 no call, no answer, and I am still a deadbeat according to them.

All I can say is beware when taking loans from them. When you are a customer you get 2 calls a month asking if you need more money, but when you pay them off they make sure you can’t go anywhere else.

Jeffrey reports that the mysterious manager still hasn’t sorted this out, and he filed a dispute with the credit bureaus.