What should i do?

Question

I took out a loan with citfinianical for 7700.oo they put the interest and principal on my credit report ,I have not been late ,But i would like to pay them off my credit score is over 740 ,There is no banks that will take the loan without being secerued i do not have anything payed off yet to do that . Does anyone have any suggestions .

They have my interest at 19 %

Serious replies only please

P.S. They said that they could not rewrite my loan until i was late and i am not going to let that happen I worked to hard to get my credit back on track.

Answer 1

File for bankruptcy..!Did u try talking to anyother banks?try to make a deal with citibank and explain your situation to them.i have had good experiences with them.So,wishing you all the best

Answer 2

If you aren't able to get a bank loan to pay it off, continue to make all payments on time. The interest rate is appalling, but you must have known that when you financed with them.

Just the fact that Citifinancial is reported on the credit report is sufficient to lower your credit score, as they are a finance company, which represents higher future risk of missed payments. The worst thing you can do is to miss payments, as that will seriously damage your credit worthiness. Your best action is to pay it off as quickly as possible, making sure to pay on time. As this is an installment loan, it is unlikely to be reported as a revolving account on the credit file.

Answer 3

Continue to make monthly payments, and on time! Revolving accounts keep your score high! After making timely payments, you can refinance your loan for a smaller interest rate. Your credit score is fairly high in comparison to the majority in todays society! In the future, 19% is ridiculous.

Answer 4

19% is phenomenal!

I'm afraid you'll just have to continue with the payments until the loan is at a level that can be refinanced. Citi are notorious for doing this - but they do now have you in a vice, sorry.

Answer 5

hi