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Citi Financial Loan...can they take you to court?

Submitted by spud321 on Tue, 05/26/2009 - 09:26
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I have a personal loan with citi-financial (local branch). I have about 1400 left to pay. For the past few months our income has been cut dramaticly. We continue to pay, but late. In the past when we got behind they would threaten us with small claims court. Can they threaten you with court? If they are serious, how do you know they are serious or pulling your chain?



To answer your question can they sue you, the answer is yes. Citi-financial local branchs are agressive. Like the previous comment mentioned though if you don't have money, you don't have money. I would try to pay them whenever you can. If you are paying and even 30 days late, the creditor really doesn't have that much to worry about. You have done everything you can about expressing your hardship. By the way what state do you reside? I ask this because some states cannot garnish consumers which defeats the purpose of taking comsumers to court accept to place a jugdment on your credit score.


Submitted by on Tue, 05/26/2009 - 14:53

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I am in TX. We are selling our home...no it isn't the mortg. payment...it's the utilities and taxes here that eat our lunch! Hopefully when this house sells, we are able to pay them off. SHould I let them know that is the plan? If they place judgements on me, how does that work?


Submitted by spud321 on Tue, 05/26/2009 - 16:02

spud321

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I have an auto loan with Citifianancial. A few times, I've been behind in payments. However, my local branch has REALLY helped me when I needed help. OP...is it a 'personal' loan you have with them? Why don't you see if you can re-finance your loan,..OR..make a few % payments until you get the loan caught up? I know with % payments, you can do 4 of them per year.


Submitted by sdchargers_63 on Tue, 05/26/2009 - 18:23

sdchargers_63

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yes, they will. I was just a month behind on mine about a year ago and they filed a warrant in debt on me. I worked it out though before court. My payments are due on the 12th and by the 15th, they are calling even though I have a 7 day grace period, they told me last month they have to call now if they go past the due date. She even asked if we wanted to re-write the loan and skip a few payments, so maybe that could be an option for you.


Submitted by on Wed, 05/27/2009 - 11:23

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I have a home improvement loan and so far they've been great to work with. For me they do call if the payment is more than 5 days late but so far that's the only time they call. Even one time when my payment was a bit late I think about 8 or 9 days they called and offered a skip a payment option in case that would help us out and so we were able to do this by them sending us a paper we signed it and sent it back. Maybe this could help you out, I've always found them very easy to work with.


Johnita


Submitted by johnita on Wed, 05/27/2009 - 12:15

johnita

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I have a home improvement loan and so far they've been great to work with. For me they do call if the payment is more than 5 days late but so far that's the only time they call. Even one time when my payment was a bit late I think about 8 or 9 days they called and offered a skip a payment option in case that would help us out and so we were able to do this by them sending us a paper we signed it and sent it back. Maybe this could help you out, I've always found them very easy to work with.


Johnita


Submitted by johnita on Wed, 05/27/2009 - 12:21

johnita

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I see alot of 'positive' about Citifinanacial. They seem to REALLY help those in their time of need.....especially in this economy. I've dealt with them a long time. I think their great to deal with. Really flexible with payments, etc. If people just show an effort to 'work' with them, they will 'work' with the consumer, as well.


Submitted by sdchargers_63 on Fri, 05/29/2009 - 04:22

sdchargers_63

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I think if you're honest with them, then they WILL work with you. Just think........( for example) if you lied to me, I wouldn't wanna 'work with you.' I've dealt with Citi for a long time ( local branch) when I have problems that come up, I'm truthfully with them and they DO work with me. Where did you say you're from?


Submitted by sdchargers_63 on Sun, 06/07/2009 - 18:51

sdchargers_63

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The Federal Law on usery is 8% unless its a Tbond.
Citifinanacial charges almost 30%
We sent them a letter of compromise and stapled a check for 50.00 to it stating if they cashed it loan was paid in full...we mailed it just like we would mail in any payment..they cashed it..but they are taking us to court in short saying they where to stupid to read the letter..that was stapled to the check...we are going to ask about them making money out of thin air..cause they did..(youtube it people) and an important thing to know about court...the Constitution says you have a right to a jury trial on anything over 20.00 (this also means cops are breaking the law when they write you a ticket because they are acting as DA..judge..jury..thats a no no)


Submitted by on Sat, 07/18/2009 - 12:26

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I think Citifinancial is the biggest rip-off i have ever seen. They are nothing but loan sharks that charge to much interest and stretch your payments out over to many years so you never get out of debt with them. I wish i had never borrowed any money from them and if i do ever manage to pay them off, i will never, ever borrow from them again. my payment with them is 170 dollars and when i pay them, maybe 35 or 40 dollars goes on the payment, that is ridiculas. I only borrowed 4,000 dollars, been paying for nearly 2 years and i still owe over 4,000. My advice to anyone thinking about getting a loan from them is DONT DO IT!


Submitted by on Wed, 11/04/2009 - 13:14

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Citifinancial sucks. The day after a payment is due, they are calling me about the late payment. I borrowed $1500 with a 33% APR. Thank god I only have a balance of $50, next month I am done. Anyway, Citifinancial is always calling me or sending junk mail stating I may qualify for a new loan. I keep asking them to stop bothering me. The are thieves.


Submitted by wchambe641 on Wed, 11/04/2009 - 14:07

wchambe641

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Quote:

Originally Posted by Anonymous
I think Citifinancial is the biggest rip-off i have ever seen. They are nothing but loan sharks that charge to much interest and stretch your payments out over to many years so you never get out of debt with them. I wish i had never borrowed any money from them and if i do ever manage to pay them off, i will never, ever borrow from them again. my payment with them is 170 dollars and when i pay them, maybe 35 or 40 dollars goes on the payment, that is ridiculas. I only borrowed 4,000 dollars, been paying for nearly 2 years and i still owe over 4,000. My advice to anyone thinking about getting a loan from them is DONT DO IT!


You shouldnt complain about them being a bad loan agency. You should be learning how to read the document you sign. You are after all the one who said yes.


Submitted by willsgotrythm on Wed, 11/04/2009 - 18:38

willsgotrythm

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The Federal Law on usery is 8% unless its a Tbond.
Citifinanacial charges almost 30%
We sent them a letter of compromise and stapled a check for 50.00 to it stating if they cashed it loan was paid in full...we mailed it just like we would mail in any payment..they cashed it..but they are taking us to court in short saying they where to stupid to read the letter..that was stapled to the check...we are going to ask about them making money out of thin air..cause they did..(youtube it people) and an important thing to know about court...the Constitution says you have a right to a jury trial on anything over 20.00 (this also means cops are breaking the law when they write you a ticket because they are acting as DA..judge..jury..thats a no no)



You do have the right to a jury trial for a ticket although you have to refer to your states laws for that. In your state if you do then you better have a good case, if you lose you have to pay for court costs as well!!!!


Submitted by willsgotrythm on Wed, 11/04/2009 - 18:42

willsgotrythm

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:confused:Citifinancial was good when i first started. I have a good and affordable payment. Then i moved to the other state, one of the local branch take over my loan and ask me if want extra money. so i redo my loan for more than 2,000. and didnt tell me how much my interest tell i have to sign the papers. Its hard to refused when the already printed your check. My interest is 30%. my loan all together is 7,000 on top of that is the interest of 7,000. a grand total of 14,000 more . i just want to know if this for real. i feel like this s scam. now that im behind one month they send me a letter that they will take me to court. They ask me that they can lower my payment but im afraid their gonna trick me signing papers and get more money towards my loan.


Submitted by on Thu, 12/16/2010 - 11:34

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Citi loans to people with poor credit so they can get away with charging higher interest rates. People pay it because they're desperate and can't get a loan elsewhere. It's not a scam, it just kinda sucks. If they've offered you a way to catch up, I would take it and get that loan paid off as soon as you can.


Submitted by OhioGal1 on Thu, 12/16/2010 - 12:24

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