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KD in Ohio says: “As a current employee, I have read many of the complaints and concerns on this page by both emloyees of the company and customers. Unfortunately, I can say I believe everything I have heard. The company (Beneficial), has set sales goals that cannot be met by an ethical employee. I have been with the company for many years and can honestly say that if you are a consumer, find another lender.
I have personally witnessed AE’s, BSM’s, and DSM’s ignoring what is best for our customers and even going so far as lying to customers and ignoring guidelines set by the Attorney General after the $484 million dollar lawsuit against them. When another employee called our “compliance tip line” they were ignored and the BSM and DSM involved are still working for the company. I am currently looking for new employment and trying not to screw over any potential customer in the meantime.
If you are still considering Beneficial, let me save you some time. If you want a personal loan you have to own a home and your rate in Ohio will be 25 percent. About the only other product they can offer is a 1st mortgage at 11.23 percent with up to $12,500 in fees (the maximum they are legally allowed to charge) to put you over equity on your home.”
This article, HSBC Beneficial Finance employee says find another lender, is just one of our articles from Bank Horror Stories, HSBC Secrets
Bank Horror Stories monitors banking problems and customer complaints and has done so since 1999. Writers hold no stock positions. Some material is used under the fair use copyright act.
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