Complain about a product or service

Beneficial

Samantha of Parma, ID November 21, 2009

My husband recently got laid off, and we were unable to continue the monthly payments of our UNSECURED loan in excess of 10,000. I recently wrote them a letter stating a proposed settlement agreement, and a specific amount of time to respond. I have not heard hide or hair of them, and since it stated specifically that they had 15 days to respond with a counter offer, or denial, or i would be forced to assume they accepted my offer, I am now going with what I proposed. If they decided to report negatively,

I have every shred of certified mail reciepts, and whatnot to stand up in court. These people are a fly-by-night outfit, and I am getting sick of these "loan sharks" out to screw the american folk that actually work for a living. I'm doing everything I can to make sure I get the point across that no matter what background you come from, they can't push normal people around just because they made bad loan decisions and lost [all]!

Steven of Billings, MT November 21, 2009

I made a payment to my Beneficial mortgage. The payment was placed in a holding account and not posted to my account. Beneficial is demanding more money before posting my payment. This is causing me undue mental anguish

Elizabeth of Riverside, CA October 31, 2009

My mother and myself took out mortgage loan in 2003. My mother passed away in nov. 2007. that same week I received letter to pay for homeowners insurance or they would force insurance. I did get insurance and also asked for a hardship. letters from hardship states permanant hardship with reduced interest rate. but I am still being charged deferred amount of I guess old interest rate amount.

Since Jan, 2008 of getting hardship, I was getting calls continuously from collection saying I was late on payments, 30 day then 60 day and 90 day. all reported to credit bureau. over 9 months into hardship loan. of argueing, calling, faxing insurance, talking to over 20 plus people, supervisors, insurance, customers service, and hardship dept. I was told they were putting my monies paid on time every month into a reserve account until the full monthly payment was there to credit my account. wich would include a forced homeowner insurance amount they were billing me for in 2006 that I didn't know about..my arguement with them and they never told me for over 9 months because I paid insurance in 2008 per letter and did not know about forced insurance for 2006.

and because I was late they cancelled and raised my hardship payment, every month I was being charged a late charge on top of hardship and forced isurance that I was never told for what year I was paying for I thought was paid and no one would explain only to fax over my insurance copies with no call backs, payment I paid every month, this efected my health so bad and drove me crazy. My home is not worth the balance owed, because of recession, and payments I can't afford, so I will have to rent my home to pay payment.

forrest of Yale, OK October 29, 2009

have asked for payoff amount. and did what they said 4 times and they wont let me know.

Shirley of Bloomfield, NY October 14, 2009

I have been paying my mortgage to beneficial each month thru EZ pay.Each month they would take my payment without any problem.In August of 2009 I closed my savings account & called beneficial to give them my checking account information so them could start to take my payment from there. I was told there would be no problem. Ever since then I have been fighting with them monthly to get them to accept my payment.

I have spoken to so many people I can't think straight.I spoke with a manager on 10/02/09 & decided to use my online banking system to make my payment.My bank statement shows a payment was cleared from my account to beneifcial on 10/09/09. As of today, 10/14/09, Beneficial shows my account as 13 days past due. I faxed a letter to them asking that they have a manager call me this evening. We'll see if that happens.

Angela of Jacksonville, FL October 10, 2009

Received a letter from Beneificial on 10/9/2009 stating that they have been forced to strat forclosure actions concerning my mortgage. Per Beneficial I have missed the last 5 payments totaling 9.854.10. I have copies of all checks from January -August cashed by Beneificial. I am not sure what steps I need to take I have filed a complaint with the BBB and I have copies of all checks cashed by beneficial.

This company is such a rip off I will love to refinance with another company, but due to the 5 lates listed on my credit report I am unable to proceed with another company. I have made several request for Beneficial to fix credit report. I have had no success.

JAMES of LaGRANGE, GA October 8, 2009

I took a Home Equity line of credit in Feb. 2008 in the amount of 15000.00. First on my monthly statement indicated I could "skip a payment". I did. But what the dont tell you is that you still have to pay the interest for that month.At that I had avalible cash. I was charged a late fee for that month and an over the limit fee. Itook me several months to get them to try to get it right, the never did because the over the limit charge was never removed. In Sept. 2009 I made a mistake and paid two payments for that month in the amount of 700.00.(350.00 each). Sure they subtracted it from the loan but then they added the interest and insurance and only 49.00 went toward the principle. I read a lot of complaints about Beneficial, is anything being done? Are these practices legal?

PATRICIA of EAGLEVILLE, PA October 2, 2009

Contact Beneficial from a solicitation they sent me about 2-3 yrs ago. Asked for a 3,000 loan. WHen I got to their office, they had a check FOR 10,000 made out to me. Told me don't worry about it, what you don't use you don't pay for. BAD MOVE ON MY PART. Now, I owe, 16,800. My husband is on Social Security and had to settle a workers' comp case 12/08 from injury in 2005 and our income went down about 30,000. Needless to say, cash flow is gone. Every time I call these people I get a different story. I actually got hung up on last night. Brenda told me they won't accept a settlement of the loan if I got the money if I refi mortgage to get the cash my mortgage. I never heard of such a thing. I have equity and that's my money!!! Then today, Mercedes tells me she doesn't know why Brenda told me that.

Frank on Monday gave me hardship number and address. Number doesn't work. I asked for the number again today from Mercedes and she said you can't apply on line; you have to do 20 minute app on phone with her and no guarantess. AND Brenda last night tells me that being overextended is "no reason for a hardship". I told her I am going to look into unfair debt practices. Told her to hold on (because I was driving) and she hung up on me!!!!! I am about ready to lose my mind with these people. I almost feel like just letting it go and finding my happy place but that probably will end me up in court. I will be looking to complain to AG or DA or someone over this.

kristine of renovo, PA September 15, 2009

My husband got hurt on his job in 2008 and we had the disablility insurance with the beneificical we would fill out the paper work and fax it in and they kept saying it was incomplete and finally my husband, a lady from beneficial and the insurance company had a three way phone call and they got it straighten out and payments starting being paid. Then my husband return to work for a trial period to see if he could resume his duties and he couldn't so when he tried to get back on the disabililty insurance to make the payments they told him beneficial cancelled the insurance in august of 2008 but them contuine to make payments until march of 2009 and no one can give us an answer on why they cancelled or why we were not informed that the insurance was cancelled and i am know behind of payments because of this.

Ricky of Magnolia, TX September 7, 2009

i have had loans with beneficial for 5-6 years, never missed a payment, credit reports shows that, they automatically deducted from my bank account each month, one day they just quit deducting, i went to their store location and they were shut down, closed and moved out, now they have hurt my credit report and i get calls from a collection company, i did nothing wrong yet my credit report is damaged because they went out of business, help, where do i go,

Report Your Experience
If you've had a bad experience -- or a good one -- with a consumer product or service, we'd like to hear about it. All complaints are reviewed by class action attorneys and are considered for publication on our site. Knowledge is power! Help spread the word. File your consumer report now.

Share		Follow us on Twitter.

Back to the top |Mortgage Companies