If you're looking for a loan, don't use this company! They are a SCAM! Earlier this year I was the victim of an advance fee loan scheme and lost thousands of dollars for "insurance" on my loan. Since then I have been approached by at least four other companies with all the same story.
They will tell you that they received your loan application and found a "private investor" to fund your loan. They will give you a really low interest rate (6 or 7%) and usually relatively low payment plans. Then they will tell you that because of your bad credit history, you must send the first several payments (usually 2-5) up front or purchase insurance! This is the SCAM!
You send the money and you never hear back from them again. You will not get your loan. Harmony Financial Services called me yesterday to tell me I had been approved for a loan for $10,000 at 7% interest with payments of $170/month for six years. They told me the "private investor" they found to fund my loan required two months payment up front. I advised the woman who called me that I had been the victim of an advance fee loan scheme before and lost thousands of dollars.
She stated that it was companies like that which gave her company a bad reputation. I told her that she was wrong and that she was out scamming people just like the rest of them. I told her it was illegal to charge a fee before getting a loan. She said that it wasn't because it was a private investor. I told her there was no private investor because this was a scam and asked her how she could live with herself knowing that she was scamming people with bad credit, who really need the loan, and who can't afford to lose hundreds or thousands of dollars to a scam like hers.
She then hung up. BE WARNED! This company is a SCAM and if you send them money, you are just setting yoursel up to fail. If you are approved for a loan and are asked to send money up front, do research first. Check this website first because BBB website means nothing. Then, if its a new scamming outfit like this one is, check the Secretary of State records for the company name to see if they are licensed to do business in your state or the state they are calling from. Lastly, in order to provide a loan, they must have a license or some other form of bonding, etc. So check with your state department about that.
P.S. They will also try to fax/mail you "loan papers" or guaratee letters to get you to think that the "loan" is for real. These are fake and mean nothing because the company will shut down and be gone before you can even attempt to get your money back, not to mention most of them are in Canada.
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