I applied for a loan on line thru some loan finding web site, a few days later I received a call from a Robert Whittaker at New Castel Fidelity Goup, advising I had been approved for a loan of $10K, I of course was immediately excited with this being the holiday system.
This loan offer was the best I have ever received in my life. $10K for 5 years at 7% fixed interest rate. To good to be true. Red flags went up.
Mr. Whittaker advised he would fax the loan documents to me. I questioned how I was approved for a $10K without providing proof of income and credit history (those red flags), Mr Whittaker than stated that they are not a loan company, however have located a company that approved me for a loan therefor he is not sure what criteria they used. I than questioned what commision New Castle received, he stated they are non-profit (red flags).
Mr. Whittaker however than stated that I had two (2) options before funds could be released, I could pay 5 monthly payments in advance of $1200. And my first payment would not be due until May 07, or I could take out insurancre on the loan which would pay if I became ill or unemployed, the premium would be $1250, however after one year I would receive 1/2 of the premium back. I suggested that they reduce the loan amount by the $1200 pre-payment and send me $8800.00, Mr Whittaker stated that the pre-payment is a sign of good faith on the loan (red flag)
After receiving the loan application I went to their website and noticed that it is only a front page site, although it appears there are links for additional information, when you click on a link you remain on the front page, no address or telephone number. I then searched for New Castle Fidelity and found New Castle Lending also in Calif.
I thought it was odd that the fax cover sheet from New Castel Fidelity was similiar to the web logo for New Castle lending, so I called New Castle Lending and questioned if they were affiliated with New Castel Fidelity, of course they were not.
I called Mr. Whittaker, did I mention that whenever you call you get a instructional message however regardless of what buttons you push you end up in a voice mailbox, so I left a message for Mr. Whittaker to contact me.
When Mr. Whittaker called right back I presented several questions 1. I cannot locate you company on the Better Business Buerau, his answer: Oh we are there why are you looking for the company on the BBB? 2. My next question, why is your website a front page only. Answer: We are experienceing problems I will have this checked out. 3. Why eveytime I call you I have to leave a message and you call me right back? His answer We fund over 100 loans a day I cannot just sit at my desk an await someone call.
I played the game and advised Mr. Whittaker I was faxing the application back, than he questioned how they would receive the 5 months in advance, his suggestions, auto debit from my checking account, for 24 hour turn around on the loan funds, however if I chose to send a certified ck or money order it would take at least 10 days longer to receive my loan.
I than asked who to make the payment to, his answer New Castle Fidelity, so I asked why would I not make the 5 months payment to the Company providing the loan as well what is the name of the actual loan company, his answer was that New Castle is the loan company, so I refered him back to our orginial conversation, he had no response. As of this date Mr. Whittaker has not returned my calls, guess he realized I was to alert for him to continue to attempt to scam.
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