On Friday, 18 January I completed the terms of a secured personal loan contract sent to me by faxing the signed contract and wiring a 15% ($1500) loan collateral. I spoke with a representative on the telephone later that day and he stated that the funds ($10000) would be in my checking account within two to four hours.
The funds were not deposited into my account. It was MLK Day weekend so I waited until the following Tuesday and telephoned the company again. The same representative spoke to me and he stated that another $599 was required to complete the loan. I informed him that the change in terms was not acceptable to me and per the agreement, I was not going to proceed with the loan. I requested a refund of the money that I had sent to them. He told me that he would call me back in two hours. I have yet to hear from him.
I followed up my telephone request with a formal written request for a refund that I faxed to the company. I asked that they telephone me to confirm receiving my refund request. I never heard from them.
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