Consumer complaint received 2015-08-19
Company: CITIBANK, N.A.
State: GA
Product: Consumer Loan
Sub-product: Installment loan
Issue: Managing the loan or lease

Complaint:
In XXXX XXXX, I borrowed {$3500.00} from OneMain Financial, XXXX XXXX XXXX, XXXX XXXX, SC XXXX. I was told the monthly payments would be {$300.00} per month until the bill is paid off, and I was given a check for the {$3500.00}. When I received the loan papers in the mail, I read that the term was XXXX years, and I realized that by the time I finished paying off this bill, I would have paid {$22000.00} during the XXXX years. Soon after several months of paying XXXX per month, I increased my payments to XXXX in trying to get the bill down. But at the end of XXXX I noticed that for each payment, the bill was still not going down. I would pay {$350.00} instead of {$300.00} and they would turn around and charge me all of the {$350.00} for interest. I spoke to a representative, who told me that all I was paying was interest because the loan was compounded daily ( this made no sense to me ). I soon realized that I would never get the bill paid off. On XXXX different occasions, I found that I was not able to make my monthly payments and I called OneMain to see what I could do. They told me on both occasions that I could re-finance the loan and then I could skip the current month 's payment. This happened twice, until the principal amount that I owed became over {$8000.00}. I was not told this would happen, and I did not understand how this happened. 

I am attaching XXXX payment statements that I could find, that shows where I making over-payments on this loan, and they were charging me interest in the exact amount of my overpayments ( {$350.00} ) See attachment. 

As a result watching of an infomercial, I contacted a company called XXXX XXXX ( XXXX XXXX has been sued by you for unlawful business practices, and I feel that I was further taken advantage of by this company in this unlawful practice. They just changed their name from XXXX XXXX to XXXX XXXX, XXXX and continued to solicit money from me. They advertised that they could help you consolidate your bills and get a fresh start. They said they would contact your creditors and negotiate your debt and get it down, and negotiate debt settlement with your creditors. In hope that this company could help me get this bill paid, I signed on with this company to pay them {$260.00} a month, beginning XXXX XXXX, and they would settle this bill that the interest would not allow me to pay. I paid this amount through automatic bank draft from XXXX XXXX through XXXX XXXX. 

In XXXX XXXX, I received a letter from XXXX XXXX, XXXX. vaguely stating that the company ( infomercial company ) that I was dealing with was not XXXX XXXX, that XXXX XXXX had gone bankrupt, and that I was to continue business as usual with them. The letter was so vague that I was left not knowing who " they '' are, referring to " your attorney. " I also received a letter in the same month from the Estate of XXXX XXXX, indicating that XXXX XXXX had been sued for illegal activity and forced to quit business. The letter said that I " have the right to get back any money that is with your attorney in a settlement account. '' I have paid to XXXX XXXX XXXX every month for XXXX months, and I would like to get back all of this money that I am entitled to. Then they said that there is {$00.00} money in my settlement account. Yet, I was notified over XXXX months ago that the account with XXXX was settled. I do n't know what happened to the XXXX payments for XXXX XXXX, XXXX XXXX, and XXXX XXXX in the amounts of {$260.00} each. And my XXXX question is, if the courts ordered this company to cease doing business because of fraudulent activity in XXXX, XXXX, why are they still drafting money from me up until XXXX XXXX, XXXX? 

I feel that I have been taken advantage of and wronged by both XXXX XXXX ( or XXXX ) and One Main Financial, I am asking you investigate my claim against One Main Financial on my behalf. 
Thank you

Company public response: Company chooses not to provide a public response
Company response to consumer: Closed with explanation