AMERICAN GENERAL FINANCE

I recently contacted American General Finance on behalf of my son. He =

had

asked me to help him out with a payment. I contacted them at the

Greensburg, Indiana office and informed them I wished to make a payment.

They said they would not give me any information on their account, but =

then

told me that 473 dollars would bring the loan current. I offered to pay =

it

with a credit card. They refused. Most places take credit cards these

days. I then offered to pay them with a check that I would mail today. =

The

manager of the office said the payment had to be in their office by =

Friday

which it probably would not be if I mailed it. The man was not very

customer oriented so I asked for his bosses name and number and called =

him.

He was even less customer oriented. I would say that he probably costs =

the

company a lot of money as his attitude belonged with Satan and not the

angels. To make a long story short, they said they would proceed with

litigation against my son. When a company can not wait one more day for =

a

check to bring a loan current, it is time to stop doing business with =

them.

This company is a perfect example of what is wrong with our country, and =

why

we are loosing ground so fast. Their terrorist tactics are inexcusable. =

Comment On This

consumeradvocate said: Dec 11, 2008 10:05 am

American General Financial's shady, and predatory lending practices have started the landslide to its demise. In the 3rd quarter alone, American General Finance has a net net loss of $536 million, with an estimated year end loss of over $1 billion. These losses arenot a result of AIG(AGF parent company) current financial situation,but of American General Finance's upper echleon(management's �greed and corruption). As a former employee of American General Finance, we all saw it coming. Our company's former success was based on predatory and discrimantory lending practices. American General targeted inner, city blacks, hispanics, and lower-income, working class families, who had no idea how they were being ripped off. Most of the mortgages, American General Finance orginated could of been approved convential or FHA at an average rate of 6.%. American General on average charged these uneducated, consumers a rate of 15% on a first mortgage. These mortgages that were orginated, were also loaded with thousand of dollars in points and trash fees, to generate insane amounts of profits. In addition, American General particpated in insurance twisting on its consumer and mortgage loans. Instead of offering, customers standard term life policies through American General($15/$50,000. 15year policy. American General embedded life insurance policies, with terms of 12 months to 5 years with a face value of less than $5000.00, that were embedded in their loans. Most AGF consumers didnot realize that they were also being charged 23%apr on their insurance premiums, that were hidden in their loans. What a relief that the end is near. I couldnot sleep , a many of nites knowing that, I was involved in such criminal and unethical lending practices. May God forgive me!

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To who ever wrote the previous post:

It seems to me that you are defending the actions of the people at AG, because you are either a Debt Collector, work for AG, or just someone who likes to believe he/she is better then anyone with a debt problem.

I noticed you used some buzzwords used in the debt collections industry, like: �Legal Action,� and � Stealing� (referring to unpaid past due balances). These are the kinds of posting I have read online from debt collectors, notably at: www.buddhibbs.com.

I find it hard to believe that you have �perfect credit� and shop at AG for you lending needs instead of a bank or credit union, even people who have little or no debt, pay their bills on time, have less then perfect credit, due to credit reporting errors (80% of reports have errors).

It might be possible, that you are telling the truth, and in fact do� have perfect credit, but that would make my argument more convincing, that you either work in the banking/lending industry and know how the credit bureaus operate and how to verify and dispute inaccuracies especially since 80% of credit reports have errors making it difficult for the best consumers to have perfect credit, without contacting the bureaus.

�Stealing,� is a common saying that you hear from debt collectors, mostly the ones who violate the FDCPA.

These sub-prime lenders charge huge interest rates on cars and personal loans and are making good profits from it, or else they wouldn�t be lending to people with bad credit. People who don�t pay are already included in the equation (as to who they lend to and how profitable it will be after some people do not pay)

Where does it say in a �legal document� that a lender CANNOT give a payment extension?

You said: �people like you and your son are ruining this county.� I don�t see the consumers taking advantage of the lenders; it is the other way around, as seen on the news for the last year with sub-prime lenders.

My advice for the lady with a son:

Call the District Manager, send in the payment anyway certified mail. Document all your calls, conversations and letters.

I have had some bad experience dealing with the people at AG in Illinois. They have behaved in a hostile and unprofessional manner. I am still trying to resolve the problem, so I will not say much about it yet. So far they have balked on an agreement after I held up my part, and is now asking me to do another agreement, as if I would or should trust them again.

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Are you kidding me? I worked for

AG and had to quit. Couldn't sleep at night. They are horrible to their customers - we are supposed to show up on doorsteps and threaten repossession constantly. We never send a payoff request when asked to. I left to work for a company that has morals and ethics. AG has none of these, and I'm ashamed to put them on my resume.

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Wow, you have the story all backwards. What is wrong with our country is parents like yourself. No respect for LEGAL documents and procedure. If you had raised your son with any sort of integrity neither of you would have been in this position. I have dealt with American General for many years, and my credit is perfect. They have excellent customer service and always go above and beyond. People like you and your son are ruining this country and are the so-called terrorists. Stealing money from companies that help you in the time you need it most bc your regular bank wouldnt lend you a pencil. You have no intentions of ever paying them back and get upset when they take legal actions backing up their legal documents. Take a look in the mirror lady. Everyone has got a story and is always looking for someone else to blame

Comment On This

Wow, you have the story all backwards. What is wrong with our country is parents like yourself. No respect for LEGAL documents and procedure. If you had raised your son with any sort of integrity he would not neither of you would have been in this position. I have dealt with American General for many years, and my credit is perfect. They have excellent customer service and always go above and beyond. People like you and your son are ruining this country and are the so-called terrorists. Stealing money from companies that help you in the time you need it most bc your regular bank wouldnt lend you a pencil. You have no intentions of ever paying them back and get upset when they take legal actions backing up their legal documents. Take a look in the mirror lady.