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Home > Ask The Get Out of Debt Experts > GE Took Over My CITI Financial Loan But Mailed My Statements to the Wrong Address. – Steve

GE Took Over My CITI Financial Loan But Mailed My Statements to the Wrong Address. – Steve

“Dear Steve,

I’m 55 years old and use to have great credit, until the economic breakdown.
Now all my credit cards have raised my interest, and dropped my limits.

I have never missed any payments since the early 80’s

First of all I had a CITI Finacial loan, which I always paid on time.

I started getting harrassing calls at work from GE Bank.

We have a business card which has a $0 balance.

So I figured it was sales.

I then started getting them at home.

After calling back multiple times, I found out that GE took over CITI, but was mailing my billl to a P.O. Box.

I finally received a statement with late charges and a hefty payment.

I tried speaking with them, about there mistake, and that I want late fees taken off, and most importantly, what are they going to do about reporting me to the 3 major credit bureaus

Their answer was a letter stating that I have never answered or called them.


I really want to settle this, but can’t get anyone to listen to me.

Thank you in advance.


Dear Steve,

It seems like there might be a couple of issues. The first is the CITI loan. It sounds like you did have a loan and did owe the payments. Generally in situations like that the fact a statement did not arrive or was mailed to the wrong address does not negate your duty to pay the loan as promised.

Was the P.O. Box never used by you? Was it totally an incorrect address?

Do you have the funds on hand to bring the account current today if you came to an agreement with them?

Post your reply in the comments section below.

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About Steve Rhode

Steve Rhode
Steve Rhode is the Get Out of Debt Guy and has been helping good people with bad debt problems since 1994. You can learn more about Steve, here.
  • Steve


    I have never had a P.O. Box, it was totally a wrong address. I have no idea where they cameup with it.
    I could bring it current, I just want to know why the have the right to report me to credit bureau’s without any accountability?
    Unless that’s the world we live in.
    Thank you so much for responding, it’s very rare now a days.

    • Steve Rhode

      Frankly, I’d pay a local attorney to write a letter to them. You’ve got a logical story to bring up. Just remember, the lack of a statement does not create a duty for them to do anything here. The attorney letter will get attention but them be reasonable, not threatening.

      • Steve


        Great advise.
        Great site.

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