OneMain Financial Reviews

OneMain Financial Customer Reviews

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More than double the loan in fees & interest
March 4, 2013
They offered me a $5,000 loan with payments of $210/month for 5 years. That's over $12,000. I don't even know what the interest rate on that is, but it's insane. Sadly enough, I seriously considered signing the papers, then thought better of it.

Justin August 11, 2016

I was offered the same type of deal for a $7,500 loan. After looking at the figures, I cancelled my appointment and withdrew my interest in the loan. She said she will "reject" my application. I am sure that was not a misuse of words and she meant "withdrawal" and it will show up on my credit however that is a small price to pay for dodging a bullet.

John December 09, 2016

John (Texas) December 9, 2016

I was approved (not pre-approved, but approved) for 2 types of loans: a $10,000 loan with a car title or a $6,000 loan without. After trying to convince me to use my car title on a vehicle I was still paying, and not succeeding they miraculously un-approved me. Sad to say that I too was seriously thinking of taking the bait, but "Thank God" I cancelled and withdrew my interest in the loan. Of course she rudely hung-up on me.

NOTE: I read the reviews and complaints, but I desperately applied anyway. In hind sight I'm glad I saw their true nature before accepting, and being how they represented themselves I'm sure it will show up on my credit as well..."Hey, small price to pay for dodging a bullet."

Avoid if Possible
December 3, 2012

OneMain will not provide mortgage assistance loan modification as a preventive/proactive measure if you tell them you are facing a layoff or your finances will be overextended because your old, old car has quit and you are now having to adjust the budget to include car payments and higher insurance coverage.

They require you to wait until you are unemployed or overextended and behind financially before they will do an intake and decide whether to assist you with a loan modification or not. By then your credit rating has been affected, all other payments are behind and the effect of the stress is making you physically ill and depressed. But they will offer to give you a high interest car loan, while you are on your financial descent.

When I initially requested a lower interest rate I was told that 'they' were there when I needed them (then it was Citi financial and my mortgage holder, Saxon, was folding, my credit rating was lower and I was scrambling to get someone to save my mortgage and yes they took it over at 9% and it is not Fannie or Freddie which makes me ineligible for the government assist programs).

I was also told to be glad it wasn't a higher rate (he had just closed on an 11%). HE, it turns out, was telling customers that he was the manager but was not. Present management still, is trained to not budge on negotiating a lower interest, even after four years of on-time payments and a higher credit score.

Trying to contact anyone higher up is like trying to contact the big giant head of the inner sanctum....very protected. They keep referring you back to the local branch office and will literally hang up on you.