I recently got notification to apply for a personal, debt consolidation loan from a company called ICS. I applied because I thought it may be the answer to my prayers. I am on a fixed income and hugely in debt.
I spoke with the manager, Steven, and gave him the information needed. I did not think I would be approved because of the amount, 10,000.00, and my credit.
I received a letter of approval with a 3 page contract. The contract did not state monthly payments or interest. Also, my due date was a holiday.
Since I do not have long distance and they do not have a toll free number, I had to purchase a calling card to try to reach them.
I left several messages to the direct voice mail of this Steven. While I was waiting for a response, I went on the internet to see if they may have a site. Although I did not find a site for them, I did find a blog stating terrible things about this company and was panicked.
Finally, Steven called me. I was told not to worry about the due date, it had been extended. I was told not to worry about what the web site had said because not everyone was happy with everything.
I was assured that I was approved by a company called Universal Financial and that as soon as they received my processing fee of 75.00, he would personally call me to let me know that they got it. He even told me what my payments would be.
Each time I spoke with him, I expressed all of my concerns, but he assured me that everything was legitimate. I contacted all of my creditors and gave them my word that the entire balance of past due accounts would be paid by the end of September.
If these balances are not paid, I will be in serious trouble with most of them. The ones that are not already in collection, will be if it is not paid and I can be sued if I cannot pay.
My income is only from disability and it is very low. The 75.00 caused me not to be able to pay 2 bills for this month.
I have been calling since Tuesday of this week, and have called 8 times and have not heard from ICS, nor can I find any company named Universal Financial that knows what this is all about.
Somebody please help me. I barely get by paying living expenses. Now I have made all of these arrangements with all of my creditors and time is running out. I am desperate and scared that I will end up in court or jail if I cannot pay the promised amounts.
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