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OneMain Financial (formerly known as CitiFinancial and recently acquired by Springleaf Holdings, Inc.) has been specializing in loan solutions since 1912. They try to provide personalized service and offer online access 24/7 to financial tools or account management. OneMain Financial offers personal and consolidation loans to help reduce the strain from high interest debt. OneMain has a very long history and helped shape some of the financial norms we see today. In over 100 years of service, they have helped many people with loans and financial issues. Unfortunately, the company does little to help consumers beyond offering the consolidation loan and is plagued by lawsuits, and many unanswered questions.

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OneMain Financial Reviews |


The Good

Company Highlights

  • No application fee
  • Certified credit counselors
  • Financial tools and resources

Financial Tools and Resources

Consumers working with OneMain Financial have access to different tools and resources to help them improve their financial situation and financial education. Some of the resources available to consumers include financial calculators, articles and tests. These educational tools can help customers with become more educated financially and lead to long term success. These tools are resources are free and available to anyone to use. This shows that OneMain Financial finds education to be extremely important to the success of their customers.


Although not a traditional debt counseling session, OneMain allows potential clients to call in at no cost for help in applying for a personal and consolidation loan. Although certified, the staff is primarily trained to assist in getting the loan application completed rather than advising customers on their best course of action or giving advice for managing debt and spending.


OneMain Financial has locations in 43 states making their services available for a broad spectrum of customers. Having locations in most states makes it easier for customers to work with the company and makes OneMain available to more potential clients.

Free Credit Score

OneMain Financial also offers a free credit score tool that allows members to monitor their TransUnion and VantageScore credit scores. This helps customers keep track of their credit and help better themselves when making long term financial decisions. Customers can monitor their credit scores, receive credit alerts and use the credit simulator to see how certain purchases or bills will impact their score. This tool is free to use and is available to anyone.


OneMain Financial has been in business since 1912—that’s over 104 years of experience helping people out of poor financial situations. That experience certainly helps OneMain serve its customers better than some newer consolidation services.

The Bad

Company Drawbacks

  • Two outstanding lawsuits
  • Unknown costs – reports of high interest rates
  • No industry accreditations

Interest Rate

Like many companies in the debt consolidation industry, OneMain does not disclose the average interest rates offered through its debt management plans. This makes it difficult to determine if this company’s service is more or less expensive than the competition without going through the entire process of getting a quote. In debt consolidation, interest rates are extremely important to potential customers. Customers will want to go to a company that offers the lowest fees and can get the best interest rates. Interest rates will have an impact on how much the customer will save and how fast they will be able to pay off their debt. OneMain should have published results and averages so that potential customers can have clear expectations with OneMain’s services.


We found several troubling issues with OneMain, starting with the way the business itself is run. There are two outstanding lawsuits filed against the company, both pertaining to illicit robocalling.

Customer Reviews

Customer reviews generally point to aggressive sales and collection calls, outrageous interest rates (often higher than credit cards), unhelpful (if not downright rude) customer service, bait and switch advertising, a lack of transparency regarding the terms of the loan, preying on the elderly, unauthorized credit pulls, and allegations of fraud.


There are several organizations that debt consolidation companies can be accredited by to ensure quality standards and other business practices to help customer choose a company that’s been tried and tested. Unfortunately, OneMain Financial is not accredited by any such organizations.


The cancellation policy and process is not published on the website. This lack of transparency can cause some miscommunication or mistrust with OneMain. It is important to be clear with current and potential customers of what is to be expected if they choose to cancel. Most debt consolidation companies publish their cancellation policies and sometimes offer money back guarantees. OneMain does not offer this information at this time.

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The Bottom Line

Based on their extremely poor track record, lack of accreditation, legal problems, and non-existent transparency, OneMain Financial seems to be questionable. Transparency is extremely important when looking for a debt consolidation company to work with. Customers needs to know what kind of fees, interest rate and cancellation policies to expect from a company. Customers should be able to find answers easily so that they can choose the best company that suits their financial needs. Once you take into account the slew of very negative customer reviews across a multitude of sites, including this one, we do not recommend them to consumers.

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4 OneMain Financial Reviews

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    June 18th, 2016 Bellefonte, PA

    Very high interest rate. My loan is for a little over 10,000 and I’m paying back over 24,000. The customer service at my branch is horrible once your loan is completed. Don’t try and call to ask them questions. My review is a plea, anyone that is considering them, Stay away!! You have other options.

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    June 15th, 2016 New York, NY

    I have applied requesting a 4k loan. I have fair credit (because of a discrepancy that is being taken care of) and thought I can get approve according to their reviews (they approve those with bad credit). When I received a call from the Westbury, NY branch, the loan officer told me that I couldn’t be approved for that amount, but for a 1.5k loan. But in order for me to get approved, I have to get a cosigner. I got a cosigner with good credit. I live in NY city and the commute to get to them is pretty far. I went to their office to go with the paper work, and had a missing document and asked if I can come back. The loan officer said everything looked fine that when I bring in my requested document, they will finalize it. I received a phone call from the loan officer next day telling me that I was no longer approved. He couldn’t give me a reason, only stating that I don’t have any collateral (which I mentioned to him before that I didn’t have) and my credit and the co-signer’s credit was weak (not true).
    They pretty much wasted my time and money for heading out to their office for a denial later on the phone when they could have said it over the phone the first time they have contacted me.

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    October 29th, 2015 Malvern, PA

    Told me they could not loan help cause of a 300 $ tmoble bill from 12 years ago waste of time

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    October 27th, 2015 Northwood, ND

    This company has been a hassle to work with they are rude and disrespectful to their clients. They ignore your emails and harass you with phone calls. They will tell you what you need on the phone you will bring it and then they will want more. If I go back in time I would warn myself not to use them, they lie about low interest rates. I took a loan out for 3000 and now apparently own then 8000. They told me I had great credit so I would get a low interest rate, I was at over 20% interest that they DID NOT tell me before I signed.

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