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   Real review of "Beneficial" in Denton, TX!

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All reviews are published without making any changes.

  David Hand sent us his review November 19, 2016.

  Visited address:
  1018 W University Dr, Denton, TX 76201, USA

"My mortgage was sold to Beneficial for a few years now, and I deeply regretted having to deal with this vicious company. I am a veteran of the Marine Corps with 23 years of service, and as I came home from Iraq, I was struggling to find a work right away, so Beneficial with their high-interest rates was my one of limited options. My interest rate from them was 11.21%, which was a bit high even by then standards. I am doing a bit better now financially, and I thought about refinancing my account to another company with better rates. However, Beneficial simply wouldn't let me go.

They told me that I had over $25,000 of deferred interests, while I always paid them on time, and my loan status was CURRENT. Although my loan was approved by the other bank, Beneficial keep telling them that we are behind in our payments and so our loan was then rejected. We approached several other banks, all was initially pre-approved since, as I mentioned, I was doing very well at that moment. However, as soon as I approached Beneficial about the refinancing, the loans were all rejected again because of the so-called 'deferred interests'.

I kept all the receipts for all the checks I paid them with, but they said that some of it were late, and they kept making excuses without any real reasons. The worst part was, I paid this loan for over 6 years now without any problem, why aren't there any notice or calls when I was behind with my payments. This was definitely a scam! And they had no documents that could proof that I was behind.

Finally, I gave up on the refinancing process, and I decided just to request a loan modification through their website. It was denied because they claimed that I was late in providing the necessary paperwork. Then, a seemingly fake 'Law Firm' contacted me to help fill the exact same paperwork while charging me $3,600. Because they promised that the loan will go through, I paid the amount with high hopes, only to find my loan rejected again.

After that, they keep asking me to pay the $25,000 deferred interests, without any real options to refinance or lower the mortgage payments. Finally, I decided to hire a lawyer, who advised me to file for bankruptcy so that they will settle for some amounts. I was really furious, why should I, the victim, should be the one to file for bankruptcy? I was not the one at fault, and I paid them on time. I decided just to pay off the $25,000 first next January so I can refinance the loan to a better, more honest company.

Is there any way to do a class action lawsuit or a media coverage for this company, as this money sucking vampire is really crooked to the bone. Beneficial is scamming people and needs to be investigated. For those considering to use Beneficial, please don't! Run away as far as possible."

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