American General Finance Layoffs
Bailouts Forever

Springfield, IL

#4237 Jan 27, 2012
Nah.

They'll get bailed out again.

Explaining why it is a good idea to take out a loan with AGF/SPRINGLEAF is like explaining why it is a good idea to buy furniture or appliances through Rent-A-Center: The costs just don’t add up.
AGF/SPRINGLEAF will claim that sending them a Cease and Desist letter is ALWAYS a bad idea, but there are definitely situations where it is necessary to do so. My posts regarding this always state that you can still be sued, and I have never claimed someone should not pay their bills. However, they continually try to distort the truth by claiming that I have. One should consider the true reasons why AGF/SPRINGLEAF doesn’t want to be sent these letters.
AGF/SPRINGLEAF wants to be in their debtor’s ear as much as possible, not merely to get them to pay their bills, but to sell them as much debt as possible, no matter how unwise it is. They seek to keep people as uninformed and in-the-dark about their rights as possible. There are good reasons why the Fair Debt Act was passed, and their company has a horrible track record with so many who have worked for them as well.Look at the rude, insulting comments being made on this public website by current AGF/SPRINGLEAF employees posing as laid-off or fired employees and ask yourself if these are the kinds of people you want to be indebted to.
AGF/SPRINGLEAF often solicits people for additional loans that are not within their best financial interestsThese people are not deadbeats, yet AGF/SPRINGLEAF lies to them in order to make them vulnerable to their sales tactics. Not all businesses do these kinds of things. These people have a right to use the Fair Debt Act to get AGF/SPRINGLEAF o leave them alone.
According to the Fair Debt Collection Practices Act, Consumers being harassed by creditors must cease to do so after being contacted by certified mail by the debtor indicating their desire to only be contacted by mail.If you decide after contacting the debt collector that you don’t want the collector to contact you again, tell the collector – in writing – to stop contacting you. Here’s how to do that:Make a copy of your letter. Send the original by certified mail, and pay for a “return receipt” so you’ll be able to document what the collector received.Once the collector receives your letter, they may not contact you again, with two exceptions: a collector can contact you to tell you there will be no further contact or to let you know that they or the creditor intend to take a specific action, like filing a lawsuit. Sending such a letter to a debt collector you owe money to does not get rid of the debt, but it should stop the contact. The creditor or the debt collector still can sue you to collect the debt, however.
Rumors

Springfield, IL

#4238 Jan 28, 2012
honest john wrote:
u all are nuts....nothing is happening. quit worrying and get back to work.
That's right John and tell Doug we all said Hi!!!!!
my body is weary

United States

#4239 Jan 28, 2012
This is the calm before the storm. There will be major changes this upcoming week.
Wondering

United States

#4240 Jan 29, 2012
my body is weary wrote:
This is the calm before the storm. There will be major changes this upcoming week.
How do you know this or are you just guessing? I wonder if they close branches will they do like they did in past or will we come to work one morning and the locks will be changed.
Capt

Jacksonville, NC

#4241 Jan 29, 2012
Hey, you guys jump over to Citifinanicial Layoff
Topix. Just read the various ordeals (crap) theyre
dealing with. Afterwards, post your thoughts to
the comparisons between what your facing with Springleaf and what Citifinancial employees are dealing with.
Xxxx

Powell, OH

#4242 Jan 29, 2012
It is happening soon. Be prepared. Not sure of areas yet. Lots of Rumors across the board, but have seen things, unemployment office has been notified.
Billy

Vancouver, WA

#4243 Jan 29, 2012
Good time to look for a job but I wonder if the give the small weeks paid for layoffs like they did in 2008
Billy

Vancouver, WA

#4244 Jan 29, 2012
I plan to stick it out myself. Company has treated me very well so far...

Since: Jan 12

Location hidden

#4245 Jan 30, 2012
Evansville comment: What areas of the US are you talking about And when do you think all of this will happen.
xxxx

Powell, OH

#4246 Jan 30, 2012
The Springleaf layoff rumors are today or maybe tuesday, also the rumors were it was going to happen Friday, I am not sure if Branches will be affected or just corporate or both. Rumors have been 30% cut. Consultants were brought in, made recommendations, ect. I am not surprised by any of this, every email from CEO has been bad news, trimmed 401K and wage freezes. All one can do is wait around and hope for the best.
my body is weary

United States

#4247 Jan 30, 2012
Source said CEO Levine and consultants were down in TX branches last week going to different branches and asking questions, pulling reports, etc. Like the above post says, trimmed 401k, salary freezes, no more mortgages or retail installment, no kick-off meetings...these are all bad news. When they say they want to "get back to the basics" of only consumer loans and revolving retail that means decreased work force, cutting overhead such as under-producing branches, salaries, etc.
to cool
#4248 Jan 30, 2012
illinois cuts start wednesday

Since: Jan 12

Location hidden

#4249 Jan 30, 2012
Is that official yet
Worried

Columbus, OH

#4250 Jan 30, 2012
Lady wolves wrote:
Everyone fails to understand what a private equity company does. Typical private equity is driven on ROI, return on investment driven by large pension funds, university endowments and wealthy investors. Their job is NOT to buy companies and run them. It's to buy them dirt cheap, reorganize in a dramatic way to bolster huge returns and lower expenses commensurate with improved returns. That's why no DM conference. No Best Operator. Raises a fraction if any. New hires with lower starting salaries and of course, work the ass off SALARY personnel so that they don't have to pay for overtime.
What is likely going to happen is that the company is readying Figleaf for dismatling (selling off recievables) or spinning this off to yet another owner to realize double digit returns to thier investors. YOU ALL will never know or even be in the fold on whats going on.
I am so gald I left on the life boats before all of this. You are all paid passengers on the Titanic...The world is NOT ready for loan sharks of that size anymore. That's why Citi sold it's unit. The model is anitiquated and legislators are on the prowl for your predatory lending. THAT's the next round of withch hunting.
Get out noww while you can. Have you all notice Standard and Poor's ratings of Springleaf??? Short term debt both domestic and foriegn is "C". That means pending bankruptcy. Look for yourself.
More like underpaid passengers on the titantic
this sucks

Van Nuys, CA

#4251 Jan 30, 2012
Anything in AZ,NM or Utah ?
meeting

United States

#4252 Jan 30, 2012
this sucks wrote:
Anything in AZ,NM or Utah ?
. DO meeting with dms in AZ
installment

United States

#4253 Jan 30, 2012
Just signed 3 dealers in the last 5 days. So why would they let us sign them up if they are only going to be doing revolving? Some of the rumors here are very false.
Not false

United States

#4255 Jan 30, 2012
It's because they don't want to give the rams a heads up that by the end of the week they are done. If you have contacts in other divisions call around you'll hear everything from no retail at all to no home improvement to no installment to business as usual. Cuts start 2/1/12 last around a week be ready
and

Los Angeles, CA

#4256 Jan 30, 2012
What state are you from? I'm in Illinois and I haven't been told anything.
Illinois

Springfield, IL

#4257 Jan 30, 2012
and wrote:
What state are you from? I'm in Illinois and I haven't been told anything.
Where in IL do you live? If you are in Central IL then you won't hear until the last minute. Hrvol is afraid of his own shaddow so you won't hear a thing. If you are in Chicago and work for Walsh you might hear something but it will most likely be lies. He is to busy kissing McClellans ass and will only tell those guys who are in is loop. As for deep south IL you might hear something, but I doubt Krizan will tell you the truth, he is to busy kissing ass and covering his own ass in order to stay employed. They all know they got where they are by everyone elses hard work making them look good.

Good luck this week.

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