Cityfinancial

M

Murt10

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Just got an unsolicited letter at home addressed to me personally from Cityfinancial 2nd floor 8-11 Lr Baggot St. They are a member of Citigroup.

They are offering me a loan of between E750 and E15,000.

Hidden at the back of the 4 page document in nice small writing they give a typical example of a loan of E6000 @27% apr over 36 months, with monthly repayments of E235.84, results in total amount payable of E8,4920.24. I thought lenders has to put the ARP they were charging in a prominent place.

The timing of this offer is perfect just as the Christmas CC bills arrive.

You would need to be very hard up not be aware of what you were taking on to take a loan from this crowd at these rates.

Give me good old loansharks anyday.




Murt
 
I just a similar leaflet in my door. Down in the small print they're now quoting a "typical" APR of a whopping 28%.

What amazes me is that this CitiFinancial crowd are a member of www.citigroup.com a major international bank (with over 1,100 employees in Ireland alone) rather than some private money-lending outfit.
 
i have got two of these letters over the past year. one around christmas time and one last week. I don't deal with them so don't know how they got my information?
 
I've seen their paperwork around a couple of times, over the years ... definitely not ones to borrow from, with those rates


I'm very concerned how a conmpany which is cleary very small in Ireland, but part of CitGroup, is not located in the IFSC where the rest of Citibank's Dublin operations are based ... makes me wonder !

With these charges, Avoid !

Regards

G>
http://www.rpoints.com/newbie
 
PINK said:
i have got two of these letters over the past year. one around christmas time and one last week. I don't deal with them so don't know how they got my information?
Click to expand...
You might want to check out the Data Protection Commissioner's advice on [broken link removed].
 
Citifinancial's rate is actually above the money lender rates in Ireland yet its not registered or operating as a money lender. There seems to be some sort of loop hole when banks and lending institutions from abroad are not covered by some of our legislation. They also have very high payment protection costs which they do push.
 
ESB ...... ....................22.9% at Shop electric.
AIB standard visa..........18.9%

The last computer I bought from Currys had a 12 month interest free period or I could have borrowed from HFC bank ( through Currys ) at an APR of 29.5% ( and no that is not a typing error ! ).
At least Dick Turpin used to wear a mask :)
 
They are a subsidiary of HSBC, same type of operation as CityFinancial I would imagine. I think I recall seeing a branch in Derry the last time I was there.

HFC Bank
 
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