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Household Finance

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Kimberly of North Hollywood, CA August 31, 2006

Kimberly of North Hollywood CA (08/31/06)
I applied for a personal loan online. I was then called back by Dennis Matthews that they would be able to give me a loan. I had already let them know that my credit was not in good shape. With that in mind, she did let me know that because of my credit score that I would have to pay 750.00 of insurance to the company which would be given back at the time that I finished paying off the loan. The next day I went to Western Union and wired them approximatedly 808.99. This was on 07-21-2006. I was then told that my 5,000.00 would be wired to my account within the next 24 business hours. I had also signed the loan papers and faxed them back to Dennis Matthews. Afer 48 hours I still had no funds in my account.

I contacted the office and was told that they would look into it. I had to call them back, they told me that I needed wiring instructions from my back due to the fact that it is different then putting it into the checking account. After giving them the wiring instructions I was told that it would take ANOTHER 48 hours. After this point I waited 48 hours and still no deposit within my account. I then called the company back, (this is now going on 5 days, including a weekend) Finally someone called me back and said that Dennis Matthews had misquoted me the amount of insurance that I was supposed to give. I was told I needed to give them around 600.00 more or I could request a refund. I then told the young lady that I would just like a refund. I asked how long it would take to get my money back. On 7-30-2006, I was told that it would take 7-10 business days for me to get my check in the mail of 808.99.

I faxed in a request along with the receipt from Western Union verifying the amount and where I was told to send it to their company. After 10 days I still have no check. I then called the company, only to get a voice mail machine. I left a message for someone to call me back, but no one has returned by calls. Since then, I have faxed my request to them around 50 times and have called and left messages for someone to return my phone calls about 50 times. NO ONE has returned my phone calls and I STILL do not have my money back. I will probably need to consult a legal advisor, which I can't afford.

Not getting the loan that I was promised, paperwork signed and insurance money sent to them, I have almost lost my car, and have had to borrow from family memebers. I was trying to pay off debt which now I can't and it is now causing my credit score to go even lower than it already it. I have been unable to eat or sleep and I have become physically sick and almost unable to go to work, due to the stress of the situation. I REALLY NEED my 808.99 back...at least I would be able to pay part of my rent. I have no idea what to do at this time....but I really need my money back.

Glenda of Blue Eye, MO August 31, 2006

Glenda of Blue Eye MO (08/31/06)
I have had a line of credit with Household Finance for two years. My available credit is 6750.00. I paid all but 13.00 of the balance. My air- conditioning unit had to be replaced at a cost of nearly 6000.00. I gave the service man a convience check for half of the cost for the new unit and I'm supposed to pay the second half when the unit is installed. Now, David, a loan specialist tells me that my account was automatically closed when the balance was paid in full; which it was not. He indicated that I would need to apply for a home equity loan, but he was too busy with other customers to assist me. Now, I have written this check for nearly 3000.00 and no funds and no air-conditioning. I did not close the HFC account. I certainly do not want to apply for an equity loan with this company.

Maria of Poughkeepsie, NY May 31, 2006

Maria  of Poughkeepsie NY (05/31/06)
I, like others have reported, have been a victim of HFC. In 2000 I went in to INQUIRE about a small home equity loan at which time I had at least 15K. Now 6 years later, I have almost none if it wasn't for the Market Boom. As I said, I went in to inquire about a home equity loan of about 5K, which I was talked into a higher amount of about 17K and in addition, I ended up with a refinance of my approximately 89K 1st mortgage with a reputable bank @7% and was cohersed into 150K 1st refi mortgage with HFC @12%. My mortgage never goes down only up if I'm ever late on my monthly payment.

What I missed to understand was that they sold me NOT a true mortgage which they call a real estate loan but a kind of revolving account. This is not a real estate loan at all although that is what they call it. (I have to pay taxes. They don't escrow property taxes!) Yes the loan will go down only if you pay them bi-weekly or so they say. I think it may go down a few dollars maybe by making payment weekly or daily is more like it. Yes, i agreed but but but that's after saying I'm not here to refinance my first loan a million times! I can still hear myself saying I will not sell you my first mortagage but here I sit with an astronomical mortagage. But guess what, they worded it in such a way that it ended up sounding good.

Yes, they paid my credit cards at the time but now I have those and more. I filed bankruptcy in hopes of being able to keep my home. Time will tell. But I'm afraid that decision in 2000 will haunt me till the day I die as I've made a deal with loan sharks!

Debra of Hull, IA May 25, 2006

Debra of Hull IA (05/25/06)
This company is stripping me and my family of our dream of owning our home. It is a none stop problem with them. I have been with Household from 1999, in 2004 I had to have major surgery. I called Household to let them know i would be late on my March 2006 house payment, but I would send half in April with Aprils full payment 641.02 plus 320.51. And then I would send the other half with Mays regular payment.The gentlemen in the Sioux City office told me that I had to send the payment in full for March right away to avoid any action. I explained to them I had NEVER missed a payment in the past, and due to my illness I needed just a little time to get the payment to them. It still had to be paid in full.

Then I was told that it could be deferred. Ok I agreed. Then in a few days I received a letter that said I had to send this payment right away, or action would be taken. I called the man from the Sioux City office to ask him what that letter was for. He told me it was becasue I don't send them money. i asked him about the agreement we had talked about a few days prior... Suddenly this didn't take place and I had to send in NOW..

This is just the start of the problems...I have been working with my local Financial educator to try to get things with household resolved and we get absolutly NO WHERE with them. What was one month behind has become several, I have had forclosure filed on me which we stopped by paying them the amount they said we owed.Then I sent the following months payment and they told me they could not accept the payment.

This has caused so much stress on my husband and me, we don't have the money to hire an attorney to get to the bottom of this.

Maria of Neptune, NJ May 20, 2006

Maria of Neptune NJ (05/20/06)
I thought I was in a desperate situation. I received my monthly bills and they were much more than I could afford. I panicked. I called Household Finance. I explained my embarassing situation to them and they were very understanding. They told me everything would be ok, and my husband and I made an appointment to go their office. I have two young children and they were welcomed to come. We went to our appointment and a 30000 refinance turned into a refinance of my existing mortgage plus every outstanding debt I had (total car payoff) being consolidated into one loan.

The amount was approximately 250,000 at 11% interest. Well my current mortgage is at 5.5 and my car loan is also low. They wanted me to refinance my mortgage for 30 years, plus my car loan, plus my outstanding debt, which I might add; I am ashamed to admit is 30,000 at 11%. For 30 years. The costs alone were 13,000. I said, no no no this is not what I want. I want to do a 2nd mortgage for 30,000. When I said that, Kim had to call her mgr in. He came in and insulted me because I had incurred a large amount on Sears card. This was accumulated over many years at a high interest rate; appliances, linens, clothes, oil changes. Call me a simple girl, but Sears met my needs.

To get back into perspective, when I asked for a 2nd mortgage rather than a refinance of my 5.5 percent mortgage to 11 percent, kim was aghast. She called her MGr in and I felt like I was buying a bad used car. Surely their product that was good enough for people who buy JAGs was good enough for me. They played good cop bad cop for awhile, telling me that my math was awful. An 11 percent loan on 250000 with 13,000 in costs was much more economical than anything else. MORAL OF THE STORY. These people prey on people in desperate situations. I went to another company and received a 7 percent 2nd mortgage for 15 years for total cost of 150.00.

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