American General Financial Services
Other than the fact that they show up on nearly every search as a lender for those with troubled credit, but apparently have no different lending standards than anyone else...no.
When we applied for a loan with them last year, they stated that do to the bankruptcy in 2000 that they can't take a risk. Their lending standards are the same as everyone else.
AGFS is holding a satisfactory report with BBB. They operate from different branches all over the country. You can search for this company with BBB to know more about them.
Also visit the creditors' database of this site to get contact information of lots of US Creditors.
I applied with them early 2005 and I'm not happy with them at all. I didn't get the loan because of a discharged bankruptcy. I was told that if I had good credit since the bankruptcy (I do, no late payments) and it was discharged for two years that there shouldn't be a problem. They came back to tell me I needed a co-signer so I lined one up and they still turned me down. The co-signer had excellent credit but no biggie. I'm glad I didn't get the loan now but they did hit my credit twice. When I asked about it, they said it was standard procedure with a co-signer. I tried to fight it but never got anywhere with it.
Creditors just don't understand how credit inquiry hurts reports. I read somewhere that your future creditors will not like too many inquiries by creditors or collectors w/e. see this thread, it says about some related problem-
Michele, thanks for your feedback on AG Finance.
i have had loans through this company when they were avco financial and into american general.
they were always nice and respectful to me, the only draw back is there intrest rate is very inflated.
i personally have had no problems with them and they still try to give me loans and i ask them the intrest rate there reply is 22% i just tell them no thank you.
Increasing interest rate is a big problem nowadays. Added on this, minimum payment for credit cards is going to be doubled, bankruptcy (though not recommended) has been made harder to qualify and expensive too???seems consumers need to be more calculative. All of us need to do some budgeting, need savings plan for future. What do you say?
bankruptcy is not an option for me
later this year i will be looking into buying a house.
stanley yes planning for the future is something we should all consider but alas me included seem to put that on the back burner.we are creatures of our environment and companies making it easy to buy on credit we seem to jump on, myself included under the presumption of " they gave me 12 months to pay it off with no intrest, heck i can do that" well i fear most dont. then you get the back finance charges if i understand correctly.
i know i need to be more careful. see i have been to the lowest levels of FICO score due to drugs. but that is behind me now i beat that on my own.
i know i need to budget better then i do now but i can say this with pride that i have come a long way to be where i am today my FICO score is 670 and my goal is to eclipse and blow away 700. sorry if i rambled.
You should be attentive and try to raise your FICO since you are going to buy home this year. Achieving a high score is not a tough job. You should know the influencing factors of credit scoring model. If you can follow few steps, your score will automatically go high-
Bankrupcty hurts, I know because I filed 7 years ago and still no one will give me credit ( only payday loans)which have gottenme into problems. I'll never do that again. Amer. Gen. would not let me loan either
They max'd out the value of a vehicle that I wanted to refi (even though it wasn't worth what they were telling me it was) so that they could make the most profit with an over inflated interest rate. Boy was I suckered! My payments continually went up as if I was paying a neg am car payment! It got to the point that I couldn't afford to make the payments and the car was repo'd. Now I can't get a car loan to save my life. Well I learned that's for sure.... cash is king! If I don't have it in my bank account then I'm not getting it!
These people are a rip off, RUN FAST. I had an automobile loan for 54 months. They are stating that after 5 years all of my payments have gone toward the interest rate... and I still owe over $5,5400, I dont think so!
Current interest rate is 24.99%on secured loans..that means you have to put your auto or other property up as collaterial. They charge an application fee..that ranges from $100 to $400 on personal loans. One step above payday loan companies which were shut down in ohio this year to protect the public. Most people can find a loan elsewhere for much less interest & most do NOT charge an application fee. Shop around.
Originally Posted by deacon
Anybody got any thoughts on American General Financial Services.
Yea they are a horrible company and will charge the highest interest rate possible.
they are a scam and with alot of law suits on them right now wouldn't take the risk
They are predatory lenders, even now under federal investigation (as well various AGOs). Simply google "usury laws" in any state. In Missouri, the cap for a personal loan under $5,000.00 is set at 9% - 10%. Your state's cap is likely set to the market value of governement bonds' yield for a certain quarter.
Also, call the Better Business Bureau and your State Attorney General's Office. Those folks will be happy to give you plenty of free information on this company (sic).
Good luck, my freind. Sam
I have proof that AGFS gave a $15,000 morgage to a man in 2007 who provided them with a SSI# and other info that wasn't his and to make matters worst they allowed his girl friend to sign as a co-borrow. Not under her real name or info but under his last name to show that they were married, when they infact were not married and the name she signned on the document was not her real name at all. Two AGFS Agents signned as witnesses and it was noterized... I like to think that the employees of this company allowed this kind of fraud by not doing there fact checks on the info submitted....or they had help them fill in this paperwork incorrectly just to get the loan approved.
This was done at the AGFS office in Vineland, New Jersey and it should be looked into by the federal goverment. AGFS Employees at this location have knowingly or negligently added in fraud.
What a stark revelation... Such incidents had led to the sub-prime lending and subsequently the crash in the mortgage market... I just hope that proper actions are taken against the two agents as well as AGFS.