Pensacola, Florida
Not resolved

The amount of charges are greater than the amount to be paid. This company actually has an address of 1616 N 18th St Ste 120 Mount Vernon, WA 98273-2699. Phone number 360 424-7081.

When we initially made the loan I made an early payment, every payment was always before the due date and I always paid more than the amount of the required payment. Two times they took every penny for interest. I would have thought that at least the amount made over the payment would have gone to the balance, if only $4!

So they tried to explain that because my early payment was so early that the even though the next payment was still early the interest charged all meant that everything I paid them went to interest. OK, I let that slide--Now here it is several years later and AGAIN I paid $500 instead of the $416.68 that my payment should be and they took out $425.42 in interest!

The thing that gets me upset is that how can they take out in interest an amount greater than the payment I was supposed to pay. Especially when I have always paid more than the required amount!

I will NEVER use this company again!

Product or Service Mentioned: American General Finance Loan.

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I borrowed a loan from ameican Gen finance aka $#%* Spring Leaf last 2008. My interest rate was 29%..

which I thought wouldn't affect me. Now still paying for it mostly goes to the interest. With a premium of $183.. $165 goes to the interest and only a few dollars gies to the principal.

They ruined my credit and my life thinking if how to pay it off.. I couldn't believe them so much..

Their company should shut down for making people's lives miserable.. I pity the ameican people and the people they victimized.


I offered to give these people 4500 on a 7994 loan they said ok but they would have to refinance the 3000 for another 36 months and still keep my car title? Are they crazy?

and to make it even worst im always behind i no longer work why in the *** would i want to give them more money? By next income tax i will owe less than the 3000.

I wish there was someone out there to help me and all the rest of us they are full of it!!!!!!!! :( :(


They keep on sending my husband flyers saying they want to loan us more money, that he is such a good customer and yes, he does pay on time every month. So we decided to try and borrow $1500 which is what the flyer offered and when they finally got back to us, they said all they could give us was $513 and the interest amount was over $1600!!

Is that legal?? If he is such a good customer, why would the amount of interest be so high??

And why do they offer us money and then say no?? I will never ask them for another dime!!


This comment is for Isabel. Let me try to help you out.

I do currently work for AGF and I wanted to better explain to you. We are by state law allowed to charge 5 points or 5% of the amount financed for any loan over $5,000 in California. That's basically just the cost for us doing business. This is exactly the same concept when buying a home.

So I assume your loan was around $7,000. Remember our personal loans have no prepayment penalties. So this is what we were to earn if you paid off the loan the next day. As far as the rate being increased it is another factor of the economy.

AGF is not a bank and we have to to borrow money also, as the costs go up to us we in turn have to raise our costs to you the consumer. Remember, we are a for profit company and we need to cover our costs, and rise in charge off due to delinquency to continue to stay in business. We are not out to screw anybody, in fact I believe we do everything we can to help our customers overcome the challenges we are all facing now, but again we are a business and we do have to look out for our company to ensure we stay around for another 75 years.

I do know that manager in that office and she has been with us for over 30 years. I's sure she can help you with any further questions.


“There is no need for anyone to be cold, hungry, homeless or in poverty. All these things are caused by the lack of pieces of paper and electronic numbers called money circulating in the world and by the charging of interest on them. We could change that today if the desire was there” David Icke

The bankers can accumulate and manipulate businesses by accepting, or refusing, loans.

The whole house of cards, and the control of the human race, is based on the charging of interest on money. The subject of interest is crucial. There is nothing wrong with money if it is used only as a measure of exchange for goods and services. It is when you can charge interest on money, most of which doesn’t physically exist, that enormous dangers arise.

You can then make more money from manipulating pieces of paper and electronic numbers than you can from producing essential goods and services for people who need them. With the charging of interest, the money chases those who already have money and ignores those who have not. The cataclysmic social and financial divisions in the world are caused by the charging of interest on money.

Production is geared to greed, not need, and the rich get richer and the poor, poorer. Often it is not the cost of a house that prevents people from buying a home; it is because we have to buy three or four for the right to live in one!


I borrowed $2,500 more and it was consoladated to the orignial loan I had with American General. The brach manager filled out incorrect information on my application and I let her know.

She didn't make the correct changes. I asked for a copy of the application, she said that it was theirs, that I could not get a copy. I was charged $350 prepaid finance charges as points, and she increased the annual percentage rate and the contract rate. She said that points were the same as adminstrative fees.

It doesn't make sense to me, I've only heard of points being charged when you buy/sell a house; I called the 800 number and no one would clarify the "points" situation.

This is the last loan I am borrowing from American General. I will not recommend them to my friends and family.





:( I also took a loan with this disgusting company. After paying 5000 down and making years of payments of over 400 a month they now say I owe almost what the original balance was.

I just don't understand how that is legal. No wonder this country is going down the toilet.


Come on now. These companies stick it to people and you all know it!

I used to work for a pay day Loan Business and I know how much companies like this stick it to people.

It is wrong and very very difficult for people to get out from under the loans.

Companies like this feed off of the poor. Keeping the poor poor because they cannot get out from under these loans.

Trust me if you figured out what people are really paying to borrow the money you'd know how bad these companies are.

Years ago I obtained a similar loan and had paid on it on time every month for 6months. When I called to find out what the pay off was They told me that the pay off was more than I had originally borrowed!

Yep, they stick it to people..that is how they make their money.


None of the above statements about pre comp interest are true, AGF does IB or interest bearing accounts only, this means that if you are paid ahead there is still interest accumulating in between payments, when your statements are paid ahead and say 0.00 due and a person chooses to skip a payment then they will pay more interest on the time that it is accumulating daily! I suggested you make the extra payments, plus your regular payment and 30 days apart and you will see that more will go to principal if you wait 45 days between payments then of course there is 15 days more interest adding up.

There are no prepayment penalties so pay it down faster and you only pay interest on the time you actually have the loan its up to you!!!!! I also suggest that people take the time to ask questions and READ YOUR LOAN DOCUMENTS!!!!!!!!!!

Its no one elses fault but you own if you choose to sign a legal document or contract without understanding fully what you are in for!!!! did they hold you down or physically force you to sign!!!?!!


I have a mtg. with AGF.

They screwed me big time. I have mine set up to come out of my bank account monthly, I have been going into the office and making payments assuming I was making that months payment.

Agf took another payment out of bank causing everything to bounce. I now owe the bank over $100, plus what I owe the other people I paid and bounced again over $200 and AGF says it si my problem that my account will be drafted every month regardless of what I paid in office they also refuse to pay the fee's!!


Some of the answers here are condescending. For example if you take out a loan with a company under one name and then you find out two years into the loan that the company sold out to General Finance.

So how do you get that a person went to them in the first place?

There are a lot of red flags all over them and we would like to get away from them because of serious questions about them. Things happen to people and with the price of everything going up these days it is hard to be on top all the time.

I look at things like the enormous amount of complaints.


I worked for American general until I figured out how much they suck too!!! All the loans are not front end loaded or pre computed, it depends on the state they operate in.

And it sounds like to me you have a revolving line of credit and you are not able to pay ahead, or early on these accts or make principle payments only. You need to get out from under this loan ASAP they end up costing you a fortune no matter the interest rate and will tank your credit rating if you are not extremly careful.


oops meant to address that to "find this hard to believe". Sorry Christine, I didn't do MY hmwrk!!

LOL! :grin


wow christine, you sound like a real sweetheart!! :roll

I do agree w/your points, but ease up a little! The person you are responding to did not do their homework, true, but give him a break at least he is asking questions and learning about an industry that can be very vague and misleading.

BTW- irregardless is not a word.


I am in Finance myself, and I understand how American General works.... this is why your extra payments were going toward interest....

All loans by American General are "Front End Loaded" which means all the interest is applied to the loan in the beginning. If you took a loan for $10,000 @ 20% for 60 months, they add ALL the interest to the loan up front, assuming you head the loan to term. This being said, when you make your payments, you first pay off ALL the interest. Once that is paid, probably in 3.5 years, the last 1.5 years of the loan you're paying the principal.

UNLESS, when you make an extra payment amount you MUST tell the company to apply the extra to the principal, NOT the interest. In the end, you're still coming out the same, no matter where the money is applied, because it is a front end loaded loan. If you were to make extra payments, your payoff balance would be less then actual balance.

If you were to call the company and ask what your "payoff balance" was, you would have realized it was much less then the stated balance, this is due to the interest being "refunded" to you because you did not hold the loan to term. I hope that helps...


So they have 50% interest?? That's illegal in Washington State.

First of all, if you're looking for a low interest rate, go somewhere else. You're not going tofind that at any commercial lender. They charge the maximum state rate they can.

Second of all the fact that you're there to begin with pretty much gives me a clear idea that your credit isn't that good, or at least not good enough to get a loan at a bank. I love people who says they want lower interest rates who have bad credit.

Third, had you done your homework like you were supposed to, you wouldn't have taken such a high interest loan and or found a place that offered something more along the lines of what you wanted. It's likely that you couldn't get approved elsewhere, so I'd bet you didn't have a choice.

Finally, all American General Loans are usually pre-comp interest which means your walking out with the interest acrued to begin with. You pay the interest down first, then the principal of the loan. How you don't understand that is beyond me.

Even their revolving accounts usually don't go much higher than 13.1% so irregardless, I can't see you think you're paying more in interest.

Are they not supposed to make money off the loan? Isn't that what they're there to do in the first place?

Sub Primes blow my *** mind. Services provided like AGF can be wonderful but are like any financial tool: only to be used responsibly. Do your home work and don't live beyond your means. Do that and making the monthly payments is easy.