I applied online for an unsecured personal loan with Westgate. Due to my poor credit, I was desperate for someone to help me.
I was called by Sharon Dash, a loan officer from Westgate who told me that I had been approved for the loan I requested. She emailed me the master loan agreement which I signed and sent back to her.
She advised me that because of my credit, the underwriter of the loan (Brokers Trust Ins.Co.) was requiring that I purchase disabiltiy insurance in the amount of $982.10. She sent me the agreement regarding the insurance.
I sent a Money Gram to them for the amount requested on Tuesday and was told my loan funds would be directly deposited into my account no later than Friday. When I didn't get the funds on Friday, I called Sharon Dash.
She stated that she underestimated what level of insurance the underwriting insurance company was going to require and that I needed to send an additional $675 for the premium insurance. I did so because I thought it was safe since I had an executed loan contract.
I sent that money on Tuesday and was told my funds would be released the same day and that I would have the money Wednesday. I didn't so I called and she stated that the accountant had put it through after business hours so it should be there Thursday.
Thursday came and went and no money. I began to panic because I had taken cash advances to pay the $1657 for the disability insurance and they were due to be taken from my account Friday. I called Sharon Dash Thursday afternoon and probably a hundred times on Friday and she wouldn't answer her phone.
I have called and called and still haven't been able to contact her and she has still not returned the numerous voicemail messages I have left.
Because I didn't receive the loan funds as provided by my contract, I am now being forced to file bankruptcy. My checking account was overdrafted by the money I borrowed and I am losing my apartment and my car.
I reported the company to the BBB who stated that my problem was outside the scope of their purview and they would not investigate. I reported the company to the FTC, Minnesota Department of Commerce, and Minnesota's Attorney General.
Since I work in the legal field and will be attending law school in the fall, I drafted a lawsuit to file against them in court. I faxed them a copy of the lawsuit demanding I be send my loan money or I would file the lawsuit. They have not responded.
I want others to know that they should not feel a false sense of security just because they've signed a legally binding agreement. To some people a contract doesn't mean anything. Being young and nieve, I thought it did.
I am now desperate to find a solution to my financial difficulties and this company has made it a hundred times worse.
Jennifer
Willoughby, Ohio
U.S.A.
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