After a difficult separation, I had a hard time with starting over again. My business plans were not going well. I landed in a desperate situation where I had to pay rent, utility bills, and buy food for my 4 little girls. I opened the yellow pages, looked under pawn shop and found Classic Personal loans (a.K.A. Carlos Herrera).
The Ad claimed to offer personal loans, no collateral needed. When I called, first thing Manny (loan agent) asked "Do you have anything we can hold until you pay back the money? Jewelry? Electronics? Car? The vehicle used for business purposes. The only thing I owned. The car is a modest 1997 280 e mercedes sedan, old but with low milage and in good shape.
We set up a meeting at my house (11/10/05). I signed the loan documents and Manny handed me $2,000.00 cash.in return I had to pay back $2,605.00 within 30 days. Looking at my little girls and thinking about the empty refrigerator, it wasnt a difficult choice to make. I took the money and my chances.
My prayers were answered, I received the money I needed right before the 30 days expired. I knew I was cutting it close to the due date. I called Manny and left messages for him to pick up the money before the 30 days but he didnt return my phone calls. I looked at the loan documents and only had two phone numbers and a P.O. Box for contact with Manny. He finally called me back and said, it was against the rules for him to come to my house and pick up the money. My payment would have to be mailed, processed, and cashed before the due date. I also noticed the due date was set for the 9th, even though the loan was signed on the 10th.
Unfortunately, It was the 9th, a Friday, and late in the evening. The $2605.00 in money orders was mailed Monday morning on the 12th. Manny claims he hasnt received the payment.
I faxed copys of the money orders to Manny. After he received the fax, he tells me, I now owe another monthly payment of $605.00 ($500,30 days interest payment on a $2,000 loan, an Initial meeting fee $30, a loan processing fee $25, a 30 day storage fee $55) and a $250.00 for changing the fluids in my car!? All this because the money order was 3 days late.
None of these late payments, except the storage fee, are on the loan documents. Especially the fluid changes done to my car. Why would they change the fluids? Plus there is a Jiffy Lube sticker on my windshield that says I just had the fluids changed a few weeks prior.
I fear Manny is stalling for time. I think he is waiting to see if I will keep paying the above fees or give up on the car.
I cant afford another car and I dont want to give up a great car to someone who is taking advantage of my situation and keeping my little girls with out transportation, only because of his greed.
I have to file a report on the money orders, Manny claims he hasnt received. It takes 30 to 60 days for me to get my money back from the Post Office.
Is what he doing legal? I have proof of all of the above mentioned, including witnesses to the facts.
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