After suffering through years of having made bad financial decisions, i was finally ready to make some changes for myself and my two young children. As I was looking through the Akron Beacon Journal, my local paper, I see this ad for a financial service for people with poor credit. They supposedly take your info and find a creditor that will extend a loan to you.
This shady operation went by the name of New Life Financial Group. So they hook me up with Sterling and Schultz Credit Union and an associate there by the name of Steven Bailey. I only talked to him once, after that he was always on vacation. Eventually, I was told that my loan app had expired and the current offer could not be extended to me again. So I called New Life again and they set me up with Priamerica Financial. I was faxed a loan application and in 24 hours was approved for a loan in the amount of $7525.00 which would have laid all of my debts to rest and the rest for my savings.
Once the app was approved I was faxed a copy of my loan agreement which listed all of the terms and conditions of the loan, and according to an attorney I consulted it was a binding, legal contract. I was assured that once I sent in @$1100 as collateral, or the first 4 months of loan repayment, since my credit was less than perfect, my loan would be deposited into my bank account within 24 hours. Needless to say after I struggled to come up with the money and Western Unioned it to Dale Groves in Brampton Ontario Canada, I never saw a penny of that money. When I called to see where my money was Colin Wilson the associate who had helped me all along told me I needed to speak with the supervisor Sebastian Hileman.
He told me that my credit had become worse since first checked and either I could send another $750 or have my money refunded. I opted to have my money refunded, and was referred to the refund department and was told I could expect to have my refund delivered by courier service in the next 3 days. 3 days later... no refund. I called again and was told it would be coming by regular mail. 9 months later... no refund.
I am a whole lot smarter now and understand that in order to get a loan that is valid you pay nothing upfront, and that someone in the United States can not secure a loan in Canada or vice versa. I also am now aware that these scams are not uncommon coming from the Toronto area, they are ofter pulled off by West Africans who are in the country illegaly anyway, they use different identities and prepaid phones.
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