Posts tagged as:

CitiBank

Banks making (more) predatory loans with taxpayers money

April 14, 2009

Citibank, U.S. Bank, Bank of America, Wells Fargo, and Pacific Capital Bancorp have been called out by the Congressional Oversight Panel for using taxpayer money to turn around and rip off taxpayers.
Essentially, taxpayers end up paying twice: once to the government, once to the banks.
Bailed-Out Banks Face Probe Over Fee Hikes | WSJ (via Consumerist)
(photo: [...]

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Citibank offers $5,000 loan to defendant in Citibank collection lawsuit

April 7, 2009

Allen Harkleroad is an angry debtor who blogs about his experience dealing with debt collectors. One of his creditors, Citibank, sued him on a defaulted credit card debt. After they started the lawsuit, though, Citibank offered to loan Allen another $5,000.
It is obvious why they need a bailout; the monkeys in charge of consumer lending [...]

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Your home equity line of credit is not an ATM

December 11, 2008

Last August, I wrote about the “Speed Equity System,” a dumb idea centered around using a home equity line of credit as if it were a bank account. The basic idea is to deposit all your income into your HELOC, preventing as much interest from accumulating as possible. If you do, you can pay off [...]

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Caveat Emptor playlist: Be a debt collector!

October 29, 2008

LOL.
Would You Like to Be a Debt Collector? | Get Out of Debt (which, for some reason, does not allow embedding of its videos, so I grabbed the video and posted it on YouTube)

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Citibank considers imitating Gilda Radner

June 25, 2008

Last year, Citi promised its credit card customers that “A Deal is a Deal” – that they would be getting rid of “any time for any reason” interest rate hikes. But now that they’re facing financial problems, Citi is reconsidering this pledge. Ed Mierzwinski made the SNL connection in his blog at US PIRG, noting [...]

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Update: save your money; Citibank will not reopen your HELOC even if you spend $600 on an appraisal

June 9, 2008

According to Glenda, she paid $600 to get her home re-appraised after Citibank suspended her home equity line of credit. All to no avail, as she has been unable to get Citibank to reopen her line of credit, even though the appraisal shows she has equity in her home.

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Citibank’s HELOC freeze is causing more than just a few bounced checks

April 8, 2008

From the comments, it looks like Citibank’s HELOC freeze is causing more than just a few bounced checks. Reader Barbara Clark says Citibank reported the loan as suspended on her credit report, turning it into a major negative account and trashing her credit.

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Citibank freezes home equity lines of credit nationwide

April 7, 2008

I just spoke with a homeowner who bounced a check to her tree service because Citibank suspended her home equity line of credit before notifying her. When she finally received a notice from Citibank in the mail, it suggests that (PDF link) Citibank is apparently suspending home equity lines of credit nationwide due to [...]

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Debt collector Merchants Retail Credit Association to pay $854,389.81 for FDCPA violations

November 20, 2007

Dolores Maddux owed a credit card debt to CitiFinancial. CitiFinancial sold the debt, and Merchants Retail Credit Association (MRCA) eventually bought it.
MRCA tried to collect the debt from Gilbert Maddux, Dolores Maddux’s spouse, and Jeni Maddux, her daughter. MRCA treated the Madduxes like dirt.
MRCA demanded $10,000 from Dolores Maddux when they finally called her after [...]

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