In early December Of I went on line to apply for a personal loan to help me pay for some medical expenses for my son who had a liver transplant. I was contacted by a representative by the name of John Young about a week later stating that I had been approved for a loan in the amount of 8,000.0 at 6.00% with a collateral payment of 1,215.55; making my monthly payments 243.11. I was told that I had to make the collateral payment in order to ensure the lender that I would be making my payments on time in good faith. Mr young also told me that amount that I was paying in collateral was 5 months of payments so i woulfd not have to make any payments for 5 months. I'll admit that i was a bit skeptical so i called the BBB in Nwe Jersey to get some information about the company and was told by a representative they did not have any reports on this particular company. I told Mr. Young that I did not have that kind of money at the time and he tried to suggest that I borrow the money from a family member and that as soon as they had my down payment, my funds would be directly deposited into my account the next business day, and that i would be refunded the money I had to spend on the moneygram to send it to them which was an extra 24.00. Mr. Young called me back the next day informing me that the lender was willing to accept 1,200 flat, and they would still refund the moneygram money. I ended up borrowing the money and asuring the person whom I had borrowed the money from that I would have thier money the next day. Well the next day I got a call from a Mr. David Green who was supposed to be the head customer service person in charge of processing of the loan; telling me that I needed to come up with another 1,200 in order for me to receive my funds because the lender's insurance company did not feel that the amount that I put down for collateral was enough to secure the amount of the loan. I explained to Mr Green that I was informed that all I had to come up with was the initial 1,200.00. He at that time told me that my file had been re-evaluated and that I would have to come upwith that moey if i wanted the loan. I got very irrate a told him that if I had 2,400.00 I would not be trying to get a loan in the first place. He told me that I could get my money back but it would not be until the 8th of Jan. 2008. I asked why would it take so long for me to get my money back when it did not take me long to send it to them, and he told me that it was because it came out on the company's monthly billing cycle. I called my initial representative back and asked him what was the deal. I told him what I was told and he told me that he knew nothing about the process after he was done with it. I was crying and pissed off!!! He told me that he was unaware of the issue, and I would have to talk back to Mr. Green. I spoke back with Mr. Green and told him to refund my money and he assured me that he would. Well today is the 8th of Jan. 2008 and I called the bank... NO MONEY was deposited back into my account! I called the company phone number and no one answers it just says GOODBYE! I am pissed off!!! If there is anyone out there who is contemplating doing this type of deal with them or any other online service DON'T. Tjey need to pay for what they have done to myself and I'm sure quite a few other people haveing a hard time and in need. If there is anyone out there who can help us with this situation PLEASE PLEASE PLEASE help.
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