Debt Basics

Debt Basics
Debt Solutions - No Home Needed

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CitiFinancial was originally founded by Alexander Duncan in 1912 as “Commercial Credit”.  The company offered an installment loan option to enable consumers to purchase automobiles.  The concept of the installment loan then evolved, and became available to consumer for other purchases, such as appliances.

Sanford Weill took control of the day-to-day operations of Commercial Credit in 1986, and then took the company public. By 1988, the corporation acquired Primerica Corporation, followed by the acquisition of Travelers Group—where the well-known “red umbrella” was trademarked. 

In 1998 the company merged with Citicorp, and formed Citigroup, followed by the 2000 acquisition of Associates First Capital Corporation; the largest publicly traded finance company in the United States.  Since that time, CitiFinancial has crossed international boarders, with acquisitions in Mexico and Latin America.

Consolidate your debt and lower your monthly payments now >>

CitiFinancial offers several lending programs to assist you in consolidating—and eliminating—your debt.  While most individuals feel that they must own a home to obtain the type of loan that will enable them to consolidate their debt, which is simply not the case.  Below are the types of loans offered, that can be used for debt consolidation purposes.

Personal Loans
If you aren’t a homeowner, CitiFinancial offers programs based on your credit history.  Even without a home, your good credit can allow to consolidate your high-interest debt.

  • Eligibility:
    • Must be over the age of 18;
    • Must have some positive credit history (gas card, department store credit, etc.);
    • May need a co-signer if not a homeowner or your credit history is insufficient.
  • Features and Benefits:
    • Flexible payment options;
    • Apply online, over the phone or at a CitiFinancial office near you;
    • Receive funds the same day as application;
    • Affordable interest rates.

Home Equity Loan
Use the equity you have in your home, and turn it into useable cash with a CitiFinancial Home Equity Loan.  Features and benefits include:

  • Borrow up to 85% of your loan-to-value ratio
  • Tax deductible interest (consult your tax advisor)

Additionally, if you choose the AdvantagePlus option with your home equity loan, you can enjoy the following benefits:

  • Adjustable interest rate;
  • Choose fixed interest rate option for either a 12 or 24 month period;
  • Tax deductible interest (consult your tax advisor).

CitiFinancial strives to provide affordable, flexible loan options to its customers.  In addition to the above loan products, CitiFinancial loan specialists can tailor a loan, specifically to meet your needs and budget.

Consolidate your debt and lower your monthly payments now >>

* Debt Basics is not a lender or broker. We provide information and research on debt help and debt consolidation. Product and service offerings differ by state.