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OneMain Financial Reviews
Reviews of OneMain Financial from real customers
(27 verified)
The Good
- Free consultation
- Loans for consolidation
Free Consultation
OneMain Financial offers many features that are standard in the consolidation industry. If you are in debt and would like to know what options are available to you, you can call OneMain Financial for a free consultation with a credit specialist. This consultation can help you see what can be done in your specific circumstances. The specialist will let you know which plan, if any, would be most beneficial to your circumstances.
Loans for Consolidation
The company’s recommendations may be slightly different from that of a traditional consolidation company because OneMain Financial offers actual loans. The positive aspect to this is that you can consolidate more than just credit card debt, such as auto loans.
Best Debt Consolidation Companies
The Bad
- Lacking educational resources
- Loans in place of consolidation
- Lacking transparency
Lack of Educational Resources
While OneMain Financial is a provider of debt consolidation loans and personal loans, it seems their services come to halt here. The company does not provide credit counseling to help consumers understand the benefits and downfalls of consolidation, nor do they do well in providing informative and useful articles. Most of the articles on the site are general information that can be obtained anywhere, including at any bank or credit union.
Loans in place of Consolidation
The company’s prime service is personal loans, and while they also offer consolidation loans, these are much different than an actual consolidation service. Most debt consolidation companies will roll all of your credit card payments into one monthly payment at a low-interest rate.
Lacking Transparency
There are several unknowns when it comes to OneMain Financial loans:
- Monthly and upfront fees
- Interest rates
- Which states they can work in
- If they have any accreditations
- If they offer credit counseling
Most companies have most of this information published on their websites. Without this information, it makes it difficult for potential customers to make a decision as to whether or no the services are worth the price. It also makes it difficult for our team to rank the company without this information.
Poor Customer Reviews
OneMain Financial Reviews are mostly negative on our site. Reviewers typically complain that OneMain Financial’s consolidation loan actually requires collateral and that it didn’t even get them lower interest rates. They also agree that the customer service reps are difficult to work with.
The Bottom Line
It’s safe to say the cons outweigh the pros to this company when it comes to consolidation and counseling needs. OneMain Financial is a large corporation operating more like a bank rather than a company on a mission to help individuals and families strapped down by unsecured debt. There are no credit counseling sessions and their lack of transparency when it comes to pricing and interest rates can leave consumers on the lookout for other companies willing to take a more personalized approach. Overall, we recommend taking a look at our top recommended companies for consolidation and counseling needs.
OneMain Financial
OneMain Financial is an online lending provider that specializes in personal loans. It offers personal loans for home improvements, unexpected expenses, life events, and debt consolidation. OneMain Financial does not offer a debt consolidation program or debt management plan. They only offer customers consolidation loans that help customers consolidate all of their debt into one new personal loan. In many cases, customers are able to consolidate their high-interest rate loans into a loan with a much lower interest rate. OneMain Financial does offer a variety of free financial educational resources like quizzes, articles, and financial calculators.
Contact Information
Website: www.onemainfinancial.com
Email Address: Unknown
Phone: 877-540-6246
Hours: Monday; Wednesday; Friday 8:30 AM to 5:30 PM EST; Tuesday; Thursday 10 AM to 7 PM EST
Address: 300 St. Paul St., 3rd Floor, Baltimore, Maryland 21202
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User Score00 people found this review helpful!Been with One Main for couple of years. If my monthly payments are $205 I set up reaccuring payment of $300 . Wanted a new loan to buy a trailer for my car fixing,( classic car ),business . When I finished with application I was informed ther would be no problem. My credit score was 710 Before they check me out. I then asked what would be my interest rate and she told me 35.99% . What the I said , why. She informed me that it wasn’t set by my credit worthiness, but by the amount you barrow. Apparently the amount of $1400.00 wasn’t enough. I told her I had the rest ,($1000.00 ), to perches the trailer. I asked her why would you charge the maximum amount allowed by the government to a good customer with good credit? She informed me there are other companies and I should try one of them. One day the Lord will put the meek in charge and the money grubber’s will be nothing. That is a promise made that will surely happen!Was this review helpful? YesRead More
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User Score01 people found this review helpful!Have had one main for along time (4 loans ).Never been so disatified with the office in savannah ga.never been late on any loan payments but when i moved down here to savannah got loan threw them .OUT OF ALL LOANS I HAD BEFORE NEVER BEEN SO UNHAPPY WITH THIS BRANCH ALWAYS CALLING 3-4-5 TIMES A DAY IF YOUR PAYMENT IS NOT DONE ON DUE DATE ,WHICH YOU HAVE A 10 DAY GRACE PERIOD WILL KEEP CALLING EVERYDAY UNTIL YOU MAKE PAYMENT.SO I INTENSELY DONT MAKE PAYMENT ON DUE DATE JUST TO WASTE THERE TIME! DONT RECOMMEND THIS COMPANY TO ANYBODY.NEVER HAD PROBLEM WITH OTHER LOANS FROM THIS COMPANY FROM ANOTHER BRANCH.Was this review helpful? YesRead More
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User Score11 people found this review helpful!I busted this company fraudulently billing me late fees. Caught them doing it 3 times. I couldn’t get it fixed over the phone. Then I would get it fixed and they would do it again the next month. It took roughly 90 minutes a month to make a payment and not pay fees I didn’t owe. Filed a complaint with the Attorney General’s Office for the state of Minnesota and it finally stopped. Paid off the account last month. Paid in full. Now I owe $390.00 in “they think” penalty interest for paying the loan off early. I’m going back to the Attorney General’s office. This is a corrupt company and they will screw you.Was this review helpful? YesRead More
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User Score01 people found this review helpful!I was two days late on a payment due to losing my job. I had to explain to three people in the office my situation then the manager proceeded to threaten the vehicle that was on loan and try to bully me into setting up a payments from my checking account. This was not the first issue with them. I had gone to their office to change the bank my account was withdrawn from as my husband and i had separated but they still took the payment from the incorrect account. If you don’t have business with them I don’t suggest you start.Was this review helpful? YesRead More
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User Score02 people found this review helpful!Lack of Communication never call you back, my application was under someone taking vacation and got delayed I felt they were starting to get annoying when I asked to many questions because they were short of staff and the manager was out for training, they make you send them a lot of paperwork and your application still incomplete, they want me to borrow 15,000 and refinance my car thru them instead 1500 very misleading, I told them I didn’t want to proceed and cancel, I need the money but I won’t let them take advantage of my situation.Was this review helpful? YesRead More
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User Score01 people found this review helpful!This is the second time I have attempted to deal with them for a loan. I should have learned after the first experience. They don’t call you back, they talk in circles and frankly treat you like a piece of meat. AVOID like the plagueWas this review helpful? YesRead More
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User Score12 people found this review helpful!Credit Karma recommended One Main Financial, shame on them. After reading the reviews I went through some of the process of obtaining a consolidation loan, shame on me. I would suggest that the gal that talked to me on the phone, and stated the terrible offers her superiors came up with, should look for better employment and not put One Main Financial on her resume.Was this review helpful? YesRead More
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User Score04 people found this review helpful!They are like used car salespersons, underhanded and sneaky. Will say and do anything to get you to get a loan with them. Be careful of anything they present to you as far as insurance, ANYTHING. It’s not what it is. They say one thing and when something comes up and you need to file a claim, insurance you have paid for to ensure that if something does occur in your like that you are unable to pay, then the insurance will come in place. One Main’s insurance carrier does everything and anything, from requesting documents, after receiving what they requested, acting as if they didn’t get it, only to send again and then being told ok, will send to another department, over and over. This going on for months, then after months of back and forth, they present something else needed, when knowing full well they have it, it was sent over and over with their first, second and third. Finally, after months them pushing your claim to different departments and representatives, the claim will be denied for some frivolous or technical issue. They will try and find ANY reason not to pay a claim. DO NOT GET THE INSURANCE, IT’S USELESS. One Main has full knowledge of Triton’s practice of unfair dealings and practices of avoiding payment of claims and still encourage customers to get the insurance coverage using tactics such as “in this climate today you need insurance, anything can happen, what if you lose your job, then your loan will be covered”, Bull. Don’t listen, remember they are used car sales persons.Was this review helpful? YesRead More
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User Score012 people found this review helpful!My elderly mother got a flyer from One Main in the mail. She called and went down for a loan.
She was 73 with beginning of dementia. She took out a loan and then 3 months later took out another for a total of $7200 in Aug 2015. She has no memory of it.
They are automatically taking 273.00 per month from her bank account. She gets $1300.00 a month between SS and pension.
I called One Main as I have POA , and was advised that the balance is $5600, and the payoff is $6K. I said after paying almost $5400, how is that. The reply was 36% interest.
I have no idea how she even qualified.
This to me is predatory lending to the elderly. Trying to figure of what to do.
Maybe just close her account at the bank and open another somewhere else, and tell them to pound salt….
There has to be a place to file complaints on this type of lending.Was this review helpful? YesRead More -
User Score012 people found this review helpful!When I took out a loan from One Main Financial I also took out disability insurance at the signing of the loan. After about a year I was diagnosed with an illness that disabled me. As a result, I submitted a claim to have my loan paid off and was denied, with their insurance claiming I had a pre-existing condition…mind you when I took out the loan I was healthy and working. After several stressful conversations with One Main I was refunded a potion of what I paid in insurance and case was closed. With medical bills accumulating I could not afford to hire an attorney to fight back.
Long story short…PLEASE DO NOT ACCEPT ANY INSURANCE THEY OFFER! IT’S A SCAM!!!
Also, if you’re (1) day late with your payment they will constantly call as if you’re (10) days late! If at all possible, DO NOT TAKE A LOAN FROM THESES PEOPLE!!! THEY ARE WOLFS IN SHEEP CLOTHING!!!
If I was a betting person, I would bet I’m not the only person they have scammed with this deceptive maneuver!
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User Score012 people found this review helpful!One main financial is a scam. I’ve been with them for a long time and now I’m filling bankruptcy and wiping out my debt. They will call me constantly after a representative of up right law send them a letter stating don’t not contact me at all. That’s a violation after the representative from UpRight Law contact them not to reach out to me. Then recently one main financial send me a letter saying they are going to take legal action if I don’t pay knowing upright law representative told them not to reach out to me . don’t do any business with them. They will rip you off and let you take out another loan without the old one being paid in full. I don’t think that’s right .Was this review helpful? YesRead More
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User Score06 people found this review helpful!I asked them several times too help me refinance my loan too drop my payments and she refused too help me, and I also asked her too take me off of auto draft because every month I’m going in the red because I can’t make the whole payment. They are very rude too you when you talk to them on the phone or in person. I wish I had never borrowed money from them. I’ve already paid back the money I borrowed and they said I still have 34 payments too make.Was this review helpful? YesRead More
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User Score013 people found this review helpful!i got a loan from One Main Financial and never actually had any issues with them until my loan was paid off in full. I had a secure loan either the company and gave my car title as collateral. My loan has been completely paid off now for about a month. Received a letter and e-mail from the branch I used thanking me for my business. I still have not received my title, although every employee from that branch told me numerous times that it had been mailed. I am now having to go through the hassle of filing for a lost title. I will never use this company ever again and I do not recommend that anybody else does either. Unless you are getting an unsecured loan from them. Do not put up any collateral, you probably won’t get it back.Was this review helpful? YesRead More
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User Score218 people found this review helpful!My mom took out a loan to help pay for roof repairs to her house. She is elderly and they are charging her a high interest rate. I have tried contacting to lower her rate so more money goes to the principle but they are not willing to help. I would not recommend this company to anyone. They are a predatory lender in my opinion, be very careful, they may as well be a payday loan company.Was this review helpful? YesRead More
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User Score321 people found this review helpful!I went to the Hamilton NJ location. When I took the first loan everything was fine. Joyce was very nice and the customer service was without question. After I took the second loan the workers were rude and not fortbcoming with answers. It was like trying to pull teeth to get an straight answer. NOT HAPPY AT THIS TIME!!! I make my payments on time and I make extra payments monthly. I get the impression they do not want me to pay the bill off.Was this review helpful? YesRead More
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User Score015 people found this review helpful!Cecilia from Lakewood Ca branch is rude & mean . I am just asking a simple question but she gives me a different answer ,When i talk she won’t wait for me to finish that’s why she couldn’t comprehend of what my question is. .and when i got mad she’s just gonna ask me if i want a return call. What’s this?Was this review helpful? YesRead More
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User Score324 people found this review helpful!I would not recommend OneMain. Financial to anyone. My mom is in her mid 70’s and had to take out a loan. They are charging her 24% interest, I have requested that they refinance and lower the rate but they refused. I just don’t think that is right, don’t use them at all, go somewhere else.Was this review helpful? YesRead More
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User Score030 people found this review helpful!I took out a loan for 10k with One Main back in 2011. Things were going fine and dandy. I was making my payments, and then in May of 2012 I acquired a large sum of money so, paid the entire loan balance off in full…or so I thought. They started calling in February 2015 saying I still had one payment left to make. I told the woman I paid this loan off in May 2012, why am I just hearing about this now. Her explanation was that I made the payment after the due date. I told her, I paid what the whole balance was in full that day, it shouldn’t matter as it was calculated real time. They keep insisting that I owe them a remainder of 239.53. I was told if I paid it by the end of February it would be paid in full. Now as of March 2, 2015, I all of a sudden owe a whopping $404.27 if paid by the end of March. One Main Financial is no different than dealing with a loan shark or a mobster! DO NOT DO IT!!!Was this review helpful? YesRead More
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User Score027 people found this review helpful!Whatever you do…..DO NOT I REPEAT DO NOT DO BUSINESS WITH THESE SCAMS… i am going to do all I can to put a dent in their business.. NO ONE is loyal there…and the Customer Service absolutely STINKS….They are legit robbers to sale u on everything u DONT need and WILL NOT disclose the truth until it’s too late… COMPLETE NIGHTMARE…. they charge u late fees for their incompetencies and lack of how to run a business…. it explains all the nightmares here! What a bunch of clowns…Was this review helpful? YesRead More
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User Score015 people found this review helpful!Casa Grande office…Manager is rude on the phone. Talks a lot on the phone and will continue calling when I told him I was at work. I told him that I would call him back later be he continued calling 3 min. later. i work well with other employees but he is needs to go.Was this review helpful? YesRead More
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User Score226 people found this review helpful!The issue with OneMain Financial is that if you borrow $2500 you will pay back more than $8000 bucks. This is fact as my Fiancee has a loan with them and we can’t get it paid off. The bigger issue is that they hold the title to her car. They gladly give you money and never ever go over the repayment details. To me thats robbery. This is the scum financial corrupt world that we have created for ourselves. When and where does it end. This type of loan should be illegal. Thats right, Illegal. I can’t even put into words my true feelings about this matter. I would be on a list somewhere in the nsa. You know the ones that claim that they aren’t spying and collecting information from average American.Was this review helpful? YesRead More
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- Takes your existing debt and try to settle with your creditors for a lower amount. If you pay off the settled amount, your debt will be considered paid in full.
- Negotiates with your creditors on your behalf.
- Fee based on a percentage of your total starting debt or a percentage of the debt they save you.
- Most settlement companies have you create a separate "escrow" account where you will make monthly contributions over a certain amount of time to contribute to your settlement. Once there is a substantial amount of funds to show your creditors, the settlement company will try to negotiate a lower amount of debt.
- Combines all your debts and creditors into one monthly payment.
- Allows you to pay one monthly payment to the consolidation company, instead of multiple payments to different creditors.
- You no longer owe your original creditors; instead you pay one monthly payment to your consolidation company.
- Consolidation companies can help negotiate lower interest rates on your debts and help lower your total debt payment in the long run. A lower interest rate will lower the amount you owe in the end.
- Allows you to consolidate all your different debts into one personal loan that can be paid off over time.
- Can offer borrowers a lower interest rate with a longer payback term (compared to high-interest credit cards or medical bills). This will lower the amount of money required to pay off the loan over time.
- Personal loan debt consolidation can be an effective way to raise your credit score quickly (within 3-6 months).
- Borrowers can receive funds from their loan within only a few days.
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Most Helpful Reviews From OneMain Financial Customers