American General Finance - Martinsburg, WV Complaint - Bait and Switch - Loans
MARTINSBURG, WEST VIRGINIA -- I decided in 2005 that I needed money for Christmas and American General seemed to give me what I needed. I was very satisfied in the beginning with them until I went to pay off my first loan. I had only been with them a little over 8 months when I paid them off and then I needed another loan. I went to purchase a vehicle with the proceeds from refinancing my home and American General told me that they would give me back the money in a loan. I used every penny I had in the bank (11,000) to buy this car on a Saturday because they were closed. When I went to their office on that following Monday they told me that I could only get 6,500 dollars. I was very upset but evidently did not learn my lesson. I sold the vehicle and did a payoff from CarMax.
They told me that I would still have a balance of around 700 dollars I would owe and that was fine. I asked them since I just paid off 8,500 dollars by selling the car, that they could let me borrow on a personal loan about 3,000 dollars (including the 700 balance from old loan). What I was told was NO PROBLEM!!! Then when they received the payoff from the other company they told me that they were sorry, they could only refinance the balance owed and that my interest rate would go up if I refinanced almost 10%!!!! What a rip off. I don't recommend these people to anyone and I hope you think twice about going to them for a loan. I got burnt twice but I can bet you it won't happen again. Remember this is the location in Martinsburg, WV.
I don't think it matters where they are though. The corp. office did nothing to solve my problem. They said that it was up to the District Manager to make the call. I was never late on a payment because I had direct debit out of my checking account. I was told that I had the lowest possible rate because I was a valued customer. But you won't give me another loan because my credit score dropped because I purchased a new vehicle and they had inquiries on my credit report?
And by the way, a flawless credit report at that with NO degrogatories on there. Please consider this before you go to them for your financial needs.