After receiving notice of approval of $3000 loan, I called the 866-431-8415 Ext 232 number and got in touch with a Sarah Scott, she told me that the minimum they lend is $5000, and I could get $5000 for 5 years at 7% interest, with my monthly payments being $99.01/mo. After I agreed, she told me since this was a bad credit loan, I would have to send $875 which I would received back in 6 months, at first I said no (wish I had stuck with it), but I was so desperate to get some bills paid off and only have one manageable monthly payment I agreed. I told her I just gotten my retirement check and I would send the money IF she assured me I would have the $5000 loan in my account by that evening, she assured me I would, again I told her I must be assured of the money, again she assured me, I went to Staples, and waited for her to fax me the "loan" papers, after receiving them I signed and faxed them back. I then went and sent the $875 by Western Union to Richard Soars, Brampton, Ontario, Canada. I called Sarah back as instructed and she told me the money was on the way to my account. After checking several times that night and again the next morning, no money. I called the 866 number again, but this time I got "Customer Service" and talked to a man by the name of Terry, he told me that for some reason the insurance company that had agreed to insurance my loan had done another check and I would have to send $750 more to get the loan. I told him no, I did not have $750. He then told me that they would return my $875 plus the wire fee of $59.99 by July 13, I told him I could not wait that long. after being put on hold several times while "he talked to his supervisor" I was assured the money would be in my account the next morning (7/4), well of course it wasn't. Then after repeated calls to Customer Service and Sarah Scott and getting the same message over and over "Customer Service is not available, please leave a message" which I did, also got same message for Sarah.
Then on Tuesday morning (7/7) Sarah called me and apologized for being able to reach her, she had been off, she started to tell me about the insurer declining my loan, I told her I had talked to Terry in Customer Service and I knew this, and that he had promised to return my deposit, she said that only she could authorize this, and that it had not been done, however, she would immediately authorize the return and it would take 15 to 20 days, when I tried to question her about why it took so long, since I had wired the money immediately, she said "have a good day" and hung up. IF I get my money back I will be more than happy to send in a favorable experience report about getting the money.
After reading reports about Lending Groups, Cambridge Loans, Hillside, Smart Choice, Kensington Finanacial Group, Silverfield Finanacial Group, I am wondering if this is the same group, and they are using different names.
Needless to say I feel like a fool for buying into this, and now I am in a REAL bind, I am overdrawn at my bank, many of my paid bills have been reversed for payment, and I have no where to turn. I am 72 years old and live on a retirement income of $1200/mo and I should have known better.
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