I was in urgent need of cash for unexpected repairs, that also put me behind with paying other bills. For a year I had been receiving those offers via the mail for a quick loan.
First mistake I made was allowing them to use my car as collateral. I totally forgot until I went to purchase my car. Months later I received a call from a rep stating that due to my on-time payments, my interest rate went down and I could claim the excess cash from the account - little did I know to get it I was actually taking out another small loan. I can say they have helped me out of some unexpected emergencies but it definitely came at a huge cost.
(1) The finance charges are HUGE, (2) the service reps treat you like you are worthless because you are asking for money and (3) there is no direct national number you can call for assistance. The One Main Financial website advertises a 1-877# that says you can get service 24/7, which is not true - you are directed to your local branch! Every time I call my local branch I am placed on hold and have to call back at least three times before someone helps me. This last time was the last straw - I needed assistance on my account and advised that I did not have my account number but would share my SS# - they told me to call back another day when I had the acct#, they cannot search by SS#, address, phone, etc.
Review about: Onemain Financial Loan Modification.