OneMain Financial, McHenry Township, IL

Going with this "loan company" was the worst financial decision I have ever made. Their method is to charge all the interest up front. We spent the last year paying off nothing to the principal. I would suggest going with any other company.

I knew from prior reviews that OneMain charges extremely high interest rates and to beware before signing on with them for a loan. The only reason I did was because I knew I could pay it off early and not get penalized. I had a prior loan through my community bank with a small balance which Is why I did not get a loan through my own bank. My poor rating of OneMain Financial is mainly because of poor customer service I received. This was the first major loan I have taken on and the process was confusing. I called and one representative started the initial process of taking down my information and was suppose to call me back later that same day to inform me if I could get a loan and for what amount. Waited all day. Next day I called and was told she left early and no one else seemed to be processing my loan. Another representative finally told me the next afternoon how much OneMain was loaning me. Made appointment to drive over half hour away to sign paperwork. My representative was not friendly and did not explain interest rates and payments well to me. Tried to add on all the extra insurance which I did not want. Asked for loan to be 36 months with higher payments and she still made my loan out for 48 months. Did not explain well at all how a , "precomputed," loan works and how much interest accrues at the end of 48 months with minimal payments. My loan was for $4600 and payments made on time with just the minimal payment due each month would make my loan $9,497. Loan amount then doubles. If you do need a loan from OneMain financial try to pay it off early. My loan was for debt consolidation and OneMain writes out checks to your creditors which they look at your credit report for. I had payed off or down some of my credit card balances so amounts were wrong on credit report. I had to call 3 of my creditors while in the office to get updated amounts. Told her what they were and she still made 2 of the checks out for the wrong amount due. At the end of my appointment , I felt that she was impatient and not at all happy to be helping me. OneMain is charging an extreme amount of interest and customers should not have to put up with the lack of customer service I received. My community bank is amazing and I will never go anywhere else for a loan again. I have been a customer service rep for 26 years and the one I had at OneMain Financial should find another job if she doesn't like hers there.

They are always so helpful and polite. Thanks for all the help!

The team quickly responded and helped process a loan with ease. I really appreciate this company. Thank you.

They will value your collateral at the lowest price possible. If you have a vehicle as collateral they will low ball the value so much that you will laught at the number they give you. Very rude customer service, neded to get corporate involved

TL:DR - They will offer you and obscene interest rate if you try to take a loan for debt consolidation and have you refinance at a higher rate than you are currently paying. THIS IS A POOR FINANCIAL DECISION DO NOT DO IT! I was given an offer for a loan for the purpose of debt consolidation. After going through the entire process and providing all the information I still needed to talk to someone from a branch. They had to take my information again over the phone that I already provided. After providing all my information that I gave for the pre-approval I was informed that I needed to refinance my vehicle as well. Then came the biggest slap to the face. The interest rate was SIGNIFICANTLY higher than the credit cards I was consolidating. And they would know that because they had everything in front of them despite having me repeat everything to them. This was is appalling that an offer like that is even made. Now I have the inquiry on my report for no reason other than the wasted time and effort I put into this. Look elsewhere for your financial services.

the people in the office are extremely helpful. the process is very efficient

Going with this "loan company" was the worst financial decision I have ever made. Their method is to charge all the interest up front. We spent the last year paying off nothing to the principal. I would suggest going with any other company.