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YOU ARE IN VIOLATION of the Fair Debt Collection Practices Act!
Posted by Creillyny on 08/23/2010
YOU ARE IN VIOLATION of the Fair Debt Collection Practices Act!
Stop calling me when payment has been made!!! AND IS NOT LATE!

See #5
U.S. Fair Debt Collection Practices ยง 806. Harassment or abuse
A debt collector may not engage in any conduct the natural consequence of which is to harass, oppress, or abuse any person in connection with the collection of a debt. Without limiting the general application of the foregoing, the following conduct is a violation of this section:

(1) The use or threat of use of violence or other criminal means to harm the physical person, reputation, or property of any person.

(2) The use of obscene or profane language or language the natural consequence of which is to abuse the hearer or reader.

(3) The publication of a list of consumers who allegedly refuse to pay debts, except to a consumer reporting agency or to persons meeting the requirements of section 603(f) or 604(3)1 of this Act.

(4) The advertisement for sale of any debt to coerce payment of the debt.

(5) Causing a telephone to ring or engaging any person in telephone conversation repeatedly or continuously with intent to annoy, abuse, or harass any person at the called number.

(6) Except as provided in section 804, the placement of telephone calls without meaningful disclosure of the caller's identity.

     
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Posted by macdave on 2010-08-23:
The Fair Debt Collection Practices Act only applies to debt collection agencies, not the original lender so they are not in violation of it. The issue as to why they are calling you, is something you will have to talk to them about.
Posted by DebtorBasher on 2010-08-23:
Is it Citibank that is calling you or a collection agency that was hired to collect for them? You would have to prove that they are calling with the INTENT to harass, annoy or abuse you. If they are simply calling about a bill, there's no violation. Are they calling and hanging up on you? Are they calling before 8am or after 9pm in your time zone? Do they continue to call you after they've made contact with you in the same day?
Posted by Helpful on 2010-08-23:
With all respect Dave, the act applies to anyone, person or group which engages in the collection of a debt. This can absolutely include the original lender.

With that said, I'm not sure why the OP is posting this here. They must show that they've contacted the lender and/or collector and disputed said debt; in this case, because it has already been paid. Throwing something up on this site doesn't do anything to help strengthen the OP's position for stopping the collector from calling.
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Poorly maintained website and payment system
Posted by Openglobe61 on 01/05/2012
SOUTH DAKOTA -- Awful - I switched to a new bank and as a result had a snafu with my automatic payments. I made a payment through the online system, online system shows it as paid but started getting a number of phone calls and five separate letters within a two week span over Christmas 2011. Made another payment online once I figured out from multiple calls to their customer service center that the payment had actually not gone through, and that something is wrong with the website's processing of the payments. I made a new payment shortly thereafter including late fees (which, by the way, are not separately disclosed within the payment), and now I'm getting text messages from Citibank. I verified with the customer sales representative that prior to this incident I had not been late in the three years since I've held these loans. If I had a choice I'd quickly switch to another lender. Citibank Student Loans are terrible.
     
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Posted by Alain on 2012-01-07:
You can make an official complaint about them (to join the others) at: http://www.federalreserveconsumerhelp.gov and also call Citibank's corporate HQ (399 Park Ave., New York, NY 10022) at (212) 559-1000 to see if anyone there might possibly lend a hand.
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NEVER let your son or daughter take a student loan from Citibank.
Posted by Dmcam on 03/23/2011
NEVER let your son or daughter take a student loan from Citibank. They are a highly disreputable company with questionable business practices. They have borderline legal practices for repayment of the loans. THEY HARASS PEOPLE! If you try to pay by paper check via USPS, they play a shell game of sending the check through multiple states for processing delaying the actual process to increase revenues by then collecting late fees. If you pay electronically they still delay posting the payments for days, long after the money has been drawn from the payee's bank account. Then they phone multiple times a day, claiming the payment is late! Despite the fact that they are in possession of the funds, they continue the harassing phone calls, sometimes as many as 5 times a day.

If you talk to them they admit you have made the payments but continue the calls until they "post it to the account". When you ask them what the did with the funds that they already drew from your account they have some ridiculous answer that the money is still being moved around, whatever the heck that means. I regret the day my daughter's college ever arranged for her Stafford loan to be funded by Citibank!

Originally, I started paying my daughter's loan early, before it came due. The loans had a 6 month grace period after she graduated. To this day I never received an acceptable explanation as to what they did with that money! They claimed they applied it to "back-end" interest. Basically the first year they applied over 50% of my payments to "interest" on a loan that had less than 5% interest rate! After that, I never tried to make an advance payment, I always pay between the due date and the grace period. Even if you make an electronic payment ON THE DUE DATE, they call the payment late because it "takes a couple of days for their computers to process the transaction". BTW I am in IT, I know that is a whole lot of "who shot John". They are just playing a shell game with the money to take advantage of the interest float. That is, the money is in their bank for their use, probably earning them interest. At the same time, they did not post it against my daughter's loan, so her loan accrues interest for those days that they then charge her. While it may not seem like a lot on our individual loan, it can really add up on the millions of loans they process.

While they may be acting within the "letter of the law" based on laws that the whole country now knows are so corrupted that we had to have a "bail out" of the banking industry. In fact, since they bought out the Travelers, they have run that company into the ground too! Personally, I think they are thieves. Too bad they have such lobbying power, our legislature should really pass some laws that better protect the consumer! I am so frustrated, I actually feel like defaulting on the loans. At least then they would be harassing me for just cause.

All I can say is, if you have the option to do business with another company when funding your child's education, use the other company!

     
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Posted by trmn8r on 2011-03-23:
It sounds like your main complaint is that payments are not being credited in a timely manner. While you state that you attempted to pay after the due date and prior to the end of the grace period, you also state that you tried to pay on the due date electronically, and the payment was considered late.

This is where you lost me. I can't schedule an electronic payment on the due date with my credit cards - it has to be set up at least a day AHEAD of time, but it can be paid ON the due date. Therefore I question exactly what has been happening.

It sounds like originally you were paying too soon and it was considered a month EARLY. There must be a way of scheduling payments so you don't have late charges.
Posted by tnchuck100 on 2011-03-23:
"..., I always pay between the due date and the grace period."

That statement all by itself explains the late fees and the phone calls.

Most of the time the only comfort a grace period has is they won't report it as late to the credit bureaus.
Posted by trmn8r on 2011-03-23:
tnchuck -> I think you're right. Now I see that statement implies the OP was routinely paying late and hoping the grace period would take care of it, like paying rent a few days late. If so, very dangerous. All they have to do is pay about a week earlier than this, it seems.
Posted by olie on 2011-03-23:
I have another take on this. OP seems to be miffed that the first payments went almost entirely toward "back-end interest".

That's how almost ALL consumer loans work. Your first (huge) bunch of payments goes mostly toward interest, with just a tad going toward principal. The farther along you get into the loan payments, the larger the percentage going toward principal.

Look at car loans, home loans, almost any other secured loan. Look at the amortization schedule. You'd be surprised at how much of your payment might be going toward interest, and not toward eating away at your principal.
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Stay away from Citimortgage when you get a loan for your home
Posted by Kfrost25 on 06/22/2010
It is very common these days for homeowners to find themselves in an upside down situation in regards to their homes. We live in the state of Florida where the housing market has been on a continuous roller coaster downhill. 4 years ago my husband and I purchased our first home (a town home). We saw that the housing market was climbing up and up. Being first time buyers, we were afraid that if we didn't get in then, we wouldn't be able to afford a home at all. So we OVERPAID for our home. 2 years ago when the market went down, we saw a good opportunity to buy our second home. We purchased our second home for more room and more privacy because we were a growing family. We figured we would be able to sell our home and walk away even, not in the hole. Foreclosure after foreclosure and short sales in the town home community, the property value of our home dropped 75%. We currently rent the home out for only the interest of our mortgage. We have an arm on the loan, it is considered an investment property (which is quite comical) so no bank is willing to help us and we can not refinance b/c it is not worth enough of the loan out on it. Citimortgage has been making 6.5% interest on our loan for the past 4 years. We have never missed a payment and we would like to do "right" by the community and keep the home in good standing. We loose money every month on the property now and when the principal of the mortgage kicks in, we will not be able to afford the home. This brings me to our problem. All we need Citi to do is lower the interest rate and lock that in for 30 years. With the economy being the way it is, my husband and I can not risk taking a hit on our credit by not paying the mortgage or short selling it. If he were to lose his job and have to get another one, they look at credit and they could decide not to hire him b/c of our financial decisions. I am so frustrated with Citi b/c they want us to be in trouble with our mortgage before they help us. They would rather us short sale on the property then to help good customers. I do not understand this. With a resolution that seems so easy to fix, why are they not willing? I really need some one who can help, I have called every mortgage company I know and have called all the "help" agencies that Obama put into force for this type of thing, but I get the same answer all the time - you are making payments on time and can afford the payments. Why would anyone help you? Well our problem will come when our arm expires and principal kicks in, then we will not be able to afford it. That doesn't take a genius to see. So again, what is the big problem of simply adjusting my interest rate? Citimortgage is unwilling to help their customers and they are eating a huge profit right now. Please do not ever use this company to finance your home. They are bad news.

     
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Citibank Mastercard--Legalized Loan Sharks
Posted by Fairlane63 on 01/04/2009
Last January I was just one day late and was HEAVILY PUNISHED with late fees, astronomically high interest rates and 5 fold increase in my minimum payment. As I taxpayer I bailed their a** out with my tax money but they yet have NO MERCY on me. They act they are doing me a HUGE favor by working with me.

I would NEVER recommend anyone getting a Citibank card.
     
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Posted by DebtorBasher on 2009-01-04:
You hired them!
It always amazes me when people sign an agreement with banks and credit cards...AGREEING to fees if their payment is late...and then faults the company because they kept THEIR side of the agreement when the customer doesn't! Late is late, it doesn't matter if it's one day or one hundred days...you agreed, you were late, you paid.
Posted by Ponie on 2009-01-04:
This past week I received a CC statement with a $39 late fee tacked on. But did I come on M3C to complain? No. It was completely my fault. After a call to the company, they graciously reduced the fee to $1.50 and I posted it as a compliment for helping me out. Keep repeating 'It's my fault, it's my fault'--until it sinks in. But with your attitude, I doubt it ever will.
Posted by Anonymous on 2009-01-04:
Ponie! How DARE you use common sense and take accountability! You shall be flogged and punished until . . . oh wait, common sense is a good thing. Never mind! Go on about your business. :)
Posted by Ponie on 2009-01-04:
John, sometimes I get carried away. :)
Posted by Ben There on 2009-01-04:
I have been late paying a CC twice (both back in the dates with checks and envelopes), and both times I had the fee waived because both were processed within 24 hours of being late.
Posted by memoryx57 on 2009-01-05:
Loan sharking by these cc companies is going by the wayside but unfortunately we have to wait another year and a half. Just wondering who thought THAT up !! It's really funny but it's always the customers fault regardless. CC companies say they have no control over the post office but seem to assume that the customer does. Brilliant. I don't think it's so much a late fee that people have a problem with. It's the legalized raping of your bank account that's the issue with most folks. Just my 3 cents..
Posted by DebtorBasher on 2009-01-05:
I had sent one of my payments to my CC company two weeks before the due date and got charged a late fee. I told them it was sent two weeks before the due date and they told me it didn't matter when I sent it or when it was postmarked, they to by when the payment is entered into their computer. I asked, "You mean to tell me someone can have my payment ON TIME and just leave it on their desk for two weeks, then charge me a late fee becuase they didn't enter the payment when it was recieved?" And the rep said, "Yes". The name of that company isn't coming to me right now, but I transfered the balance to another CC and got rid of them....FAST!
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Loan Repayment
Posted by Ttmpls on 05/02/2008
SOUTH DAKOTA -- Citi Bank bought my student loan from Sun Tech Loans approximately 3 years ago. Since then repayment of this Loan has been Hell.. CITI bank does not apply loan payment per the terms specified within the Prom notes.. Payments on Student loans are supposed to be applied to Principal & Interest equally and any remain funds are supposed to go to advance the due date of the loan. (example your loan payment is $158.73 a month you pay $240.00 the extra fund are supposed to automatically advance your next due date into the future if you kept paying $240.00 for a few month you would be advancing the due dates into the future thus giving you the loan holder the ability to skip a payment if you like without becoming past due) CITI bank does not automatically apply payments this way. They don't advance due dates unless you tell them to which is wrong. They also refuse to modify there payment system saying Loan holders need to send in the payment stubs every month or sigh up for their online payment system.. Per the terms of the prom notes signe loan holder are not required to send in any coupons with payments you are required to send in your payments with you SS# and acct number on your payment so they can apply payments to your loan that is it..

CITI Bank and other Loan companies are responsible for posting your payments correctly to your loan you should not have to bend to their payment methods.. Anyone with a CITI Bank loan should review there loans to ensure that their payments are being applied correctly you could be paying fees and not receiving % discounts your entitled to.. I have not faith in this bank what so ever and would never give them my business.. This could be grounds for a class action suit. If they aren't applying my payments correctly. I can't be the only one..

Since CITI is not applying payments correctly to these loans they are not technically backed any longer by the government so if someone were to default on the loans CITI could be left holding the bag as long as the loan holder did not sign a new prom note.

     
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Posted by Hugh_Jorgen on 2008-05-02:
I bet if you read the T's and C's closely on your original loan documents, you will find they have the right to make some minor changes to the payment processing.

I can also just about guarantee you there is a severability clause in the contract - that's standard legalese and basically says if any portion of the contract is thrown out or declared unenforceable it doesn't automatically void the rest of the agreement. So you can forget this negating your student loan.

Just send them a note when you pay ahead letting them know your intentions - it takes just a second and then there is no doubt as to what you wanted. Best of luck.
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Horrendous service
Posted by Extended Warranty on 06/27/2007
So I had an auto loan through amtrust bank that was recently picked up through citi financial auto.

First off, I had to make one of those 8 letter passwords with an uppercase letter, lower case letter, and number. This was the only account I had that needed this kind of password and I forgot it one day. I tried logging in and entered the wrong password I think 3 times and the account was locked and told to call the number. After waiting on hold for 20 minutes, I was told just had to make a new online account. So I did that. It's not that big of a deal and it was my fault that I forgot the password. However, how ridiculous is it to have to make a new account every time?

Onto my biggest gripe. I shouldn't have even bothered to make an online account because it has zero use. I have emailed them 3 times. Yea... no response from any (the most recent one sent out a week ago). You can only make a payment online by ATM card or checking account. Good enough, right? No, it is ONLY through WESTERN UNION and either option has a $14.95 fee. No, this is not my last possible day to pay. No, I don't need same day posting. Kind of odd how my citi credit card allows me to pay my card directly online from my checking account for free yet my auto loan wants to charge me.

Obviously this is done on purpose. With a credit card you can cancel whenever when you are displeased with the service, but you are locked in on the auto loan. Too bad if you don't like it. They are going to allow you to use only the method of payment that is most cost efficient for them. I really wish I could pay it through one of my credit cards online to get rewards points, but I fully understand that they don't want to pay transaction fees. But to have NO options to be able to pay it freely online? Especially for the largest bank....

I'm not going to cancel my Citi card though, because that is my favorite card. The customer service on that one is great. Just here to vent how displeased I am with this service.
     
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Posted by 10retail on 2007-06-27:
Well the password is so complicated so that someone else can't guess it and get all your information that you summited online if it wasn't there anyone could get the info and then you'd be complaining about fraud and idenity theft.
Posted by Extended Warranty on 2007-06-27:
I understand why the password is like that and said that wasn't even that big of a deal. Just an annoyance.

I hope someone does hack into my citi account. They will be so frustrated with it too.
Posted by Anonymous on 2007-06-27:
You miss the obvious. You can make the payment through your own financial institution's online bill pay service. It is not only easier and faster, but you have a record of when the payment was made, and when received by CITI. Even more important, you are not giving them access to your bank account, which permits them to withdraw at will.
Oh yeah, it's free. Anyone who gives a creditor their banking information is just plain nuts.
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Non-removal of lien against property
Posted by Keagansmom on 04/19/2007
COLORADO -- I had a home equity loan through city bank from 2002-2004. Paid the loan in full in 2004. I am now selling the house and discovered a month ago that they never released the lein on my property. Called and rec'd form to complete to have this process happen. Faxed the form back to them.Today is my closing date and I cannot close because they have not released the lein nor have they faxed my a copy of the Paid in full letter. I have talked to Jeff employee number 7438831, Ben Little employee #7472657. I have been told that I would have the information within the day, within the hour, etc.. I have been told that the information is in archives and they are unable to pull up my account, yet when I call their customer service number, I can access my account through the phone. Supposedly they must recieve permission by email from another department to do the paid in full letter. Then they have to , and I quote, "find the time to type up the letter." In the hours and hours I have used talking to them, they could have found the time to type the letter. They can't call one of their own departments? I have a buyer that is trying to close on my house today and we can't because of them. I have proof of received faxes from them from 1 month ago, yet they say they didn't get the request.

     
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Posted by tnchuck100 on 2007-04-19:
If you can document monetary damages because of their negligence (higher interest rate?)you can file a small claims case against them and recover whatever it actually cost you plus court costs.
Posted by Anonymous on 2007-04-19:
Legal action may be the only course. Lenders have no financial incentive to file or send paid in full letters. There are quite a few lenders who forget their customers after the loan is paid off.
Posted by poppapia on 2007-04-19:
If this is truly a home equity loan, even though there is no balance, the loan may still be active. However, once notified that the loan balance was zero, they have 30 days to release their lien. If you don't get anywhere, send a certified letter giving them 10 days to release the lien, or you will file a RESPA complaint with HUD, who's address you can find on the internet. Banks and HUD take these complaints very seriously, as there are monetary penalties involved if the bank doesn't cooperate.
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