Citifinancial - closed to new business?

cazziebo

Weird story...

I have a loan with Citifinancial (I know I know! Needed urgent work done to house, got a default I'm fighting at the moment and they gave me the best deal) I needed a bit more money to pay for even more work in the house (all caused by previous owners building patio too high which resulted in damp over all ground floor, resulting in new floors etc etc).

Went back to Citifinancial on thursday. They called me to say approved, (tried to sell me more money plus longer term. I didn't bite) I had to sign some documentation. I was away with work Friday and Monday. Called the office today to be told they are closing their branch network and as of yesterday can't issue any "new" loans. The person I'd been speaking to had just been told she was losing her job so didn't seem kind to press her for more info.

I called the customer service number and they were a bit vague. they also suggested that they couldn't do "new" business, but if I called with my account number they could help.

I just find the whole thing odd. Done a search and no word of this on the web...

homer_j_3

The mortgage arm has stopped lending so it seems about right that they are doing this on the unsecured side.

_Andy_

http://news.bbc.co.uk/1/hi/business/7409177.stm

cazziebo

Thanks for that. Now I know it wasn't just a line.

Really sad about the loss of jobs though..