Payday loan, title loan, or personal loan -- Getting the loan -- Complaint #6998066
Complaint Overview
Complaint ID: 6998066
Company: Citibank, N.A.
Product: Payday loan, title loan, or personal loan
Sub-Product: Installment loan
Issue: Getting the loan
State: Florida
ZIP Code: 33025
Date Received: 2023-05-18T12:00:00-05:00
Date Sent to Company: 2023-05-18T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Tags: Older American
Consumer Narrative
Just over one month ago ( around XX/XX/2023 ) I went to my local Citibank branch to inquire about obtaining a Debt Consolidation Loan. I had an existing DCL from Citibank acquired approximately two years earlier with just over {$10000.00} remaining. The loan officer submitted my data. Citibank underwriters came back with an offer of {$30000.00} ( note : in the total of my debts submitted were an existing car loan which Citibank does not do car loans, and two Citibank credit cards which Citibank would not cover their own credit card debts, but they seemed to here ). I declined the offer over concerns I would be unable to make the monthly payments. I asked if they could offer a smaller loan. Citibank 's reply was they could offer {$24000.00}, but no less. I accepted the offer. When the paperwork arrived I was listed to receive one check for {$4500.00}, and another check was to be made out to XXXX for {$9100.00} XXXX XXXXXXXX XXXX, a credit union handling my car loan ). This was not acceptable for me. I went back to the same Citibank and same loan officer. I showed her the paperwork, and explained this was not acceptable for me. She called the Citibank underwriters and we were assured over the phone three times that the loan money was to be made out in my name, not in part to XXXX. So, I signed the paperwork in the presence of the Citibank loan officer, and submitted the paperwork through the provided UPS envelope. Within a couple of days I received additional paperwork, and two checks, one made out to me and the other to XXXX as I had been assured it would not be. Repeated attempts on my part and that of the loan officer to get the {$9100.00} check to XXXX cancelled and issued to my name have failed. I informed Citibank numerous times I no longer wanted the loan. I have not cashed or deposited the check for {$4500.00} made out in my name, nor have I sent the check for {$9100.00} to XXXX. Today is XX/XX/2023. Today both checks are now 30 days old. On the checks it states " VOID AFTER 30 DAYS ''. Toward the beginning of this process, I was informed by Citibank underwriters that if I allow the checks to void the loan will be cancelled, and revert back to the previous {$10000.00} Citibank loan. No one at Citibank will now confirm this {$24000.00} loan will be cancelled. No one at Citibank will help me resolve this. I do not want this loan. I can't understand why Citibank would do this to a long to customer unless it is because they want the {$12000.00} finance charge no matter how much they are hurting me. Please help.
Frequently Asked Questions
What is Complaint #6998066 about?
Complaint #6998066 was filed against Citibank, N.A. regarding Payday loan, title loan, or personal loan specifically about Getting the loan. It was received by the CFPB on 2023-05-18T12:00:00-05:00.
How did Citibank, N.A. respond to this complaint?
The company responded with: "Closed with explanation". The response was timely.
What is the risk level of this complaint?
See the risk assessment section for details on this complaint's risk profile.
How do I file a similar complaint?
You can file a complaint with the CFPB at consumerfinance.gov/complaint. Select the appropriate product category (Payday loan, title loan, or personal loan) and describe your issue in detail.
Can I see other complaints against Citibank, N.A.?
Yes, visit the Citibank, N.A. company profile at readthecomplaint.com/company/citibank-n-a to see all complaints, risk scores, and analysis.
Disclaimer
This analysis is AI-generated based on publicly available CFPB complaint data. It does not constitute financial or legal advice.