I feel so ridiculous and consider myself to be a "fairly" intelligent woman.
I was in a financial bind and my credit score was less then "good." Unable to receive a small loan through my bank or local lending company, I desparately turned to the internet for help. I searched under "Bad Credit Loans" and filled out an application. The next day I received a call for a Robert Whitman, a "loan consultant" with Fremont Lending. He informed me that I was approved for $10,000 at an interest rate fixed at 7%. My payments would be $200 a month, for 5 yrs. BUT, because my credit score was less then perfect and I had no collateral to secure this loan, I needed to pay up front, 4 months in advance ($800), which would be deducted from the principal amount of the loan. Also, my repayment schedule would begin 4 months after I received my loan. My response to Mr. Whitman was, "If I had an extra $800 laying around, I wouldn't need a loan"! He assured me this $800 was needed because I had nothing personal to put as collateral. He faxed the contract to my business and I reviewed it, with what I thought was a "fine toothed comb" Everything seemed "legit". After some thought, I decided to ask my step daughter to borrow this $800 and I in turn, wrote her out a postdated check for this amount. I went to Walmart, purchased a "MoneyGram" which was the only acceptable method of payment. This moneygram was made out to "Mary Spence" and the address was in Canada.
I immediately called Mr. Whitman and gave him the reference number to this MoneyGram. He informed me that the $10,000 would be in my bank account the next morning.
Next morning, no money in my account! I get a call from a gentleman by the name of Edward Field, informing me that they needed to go with another lender, "because of my credit" and this new lender was able to honor the previous terms, but wanted 8 months collateral up front. This would be another $800! You guessed it... I borrowed another $800, this time from my brother and I gave HIM a postdated check for this amount. Again, I run to Walmart, purchase the moneygram and call the reference number, this time to Mr. Field. He assures me, the $10,000 will be in my account by the end of the day. The end of the day comes... Again, no money in my account!
I call Mr. Field first thing the next morning and leave him a voicemail, questioning his promise that this money would be deposited. Within a few hours, he returns my call and informs me that this lender backed out. BUT, he found me yet ANOTHER lender who was willing to give me $15,000, same terms, but I needed to send yet another $1000! At this point, I told Mr. Field he would not receive another penny from me and that I wanted my $1600 returned to me. He informed me that their billing cycle was the 22nd of the month. They would send out my $1600 certified mail on Feb. 22 and I would receive it on Feb. 23. It's now Feb. 26 and I decide to call Fremont and find out what the deal is... You guessed it, the phone number is not in service! I was left with 2 postdated checks, written out to my family members, that obviously bounced and a bank account in ruins! I cannot believe that this great world that we live in contains this type of "SCUM" who choses to prey on people who are desparate and down on their luck!
Please stop these people and someone, please help me get my money back!
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