Citifinancial - I purchased home furnishings from Richwell Bassett Gallery with a Citifinancial 18 month no payment no interest loan

Citifinancial - I purchased home furnishings from Richwell Bassett Gallery with a Citifinancial 18 month no payment no interest loan

Citifinancial: Avoid Citifinancial loans

I purchased home furnishings from Richwell Bassett Gallery with a Citifinancial 18 month no payment no interest loan. On the final month I sent a check for the full balance of the loan with a couple of weeks before the stated due date to ensure the payment would arrive on time. Approximately two months later I received a bill from Citifinancial charging me for the accrued interest on the loan.

I immediately checked my bank statement only to find that the check had cleared on the morning following the due date. What a coincidence that it takes mail longer to get to Citifinancial than to anywhere else in the country… I contacted Citifinancial’s customer service department in an effort to understand how they processed customer payments and how my payment could have possibly been posted the morning after the due date.

One of their representatives agreed with my argument that they had my payment in hand before the due date and switched me to the complaint department. Long story short, after many wasted hours, several collection agencies and tarnished credit, I filed a dispute claim with the major credit reporting agencies to have this removed. This prompted Citifinancial, who was purchased by Chase Manhattan, (who also reported this as a bad debt) to turn the matter over to a law firm.

After supplying documentation to support the fact that my payment arrived before the due date to the attorney plus the several dozen offers of credit, bank drafts, and other various offers of credit from the same Citifinancial, I believe the issue may be resolved. It has taken 3 years and countless hours of my time and in truth this was an insignificant amount of money, but on principle I refused to be extorted by this company.

I only hope this will help to convince everyone to steer clear of Citifinancial. Find out what company is behind that loan offer in an effort to avoid this problem.

M, Nick

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