All of the aforementioned reports are correct. Today is 6/27/08. Over a month ago I was searching for an organization that would provide a loan to someone with poor credit. A few days later I received a call from Patrick Reed of Crestview Lending telling me that I had been approved for a loan valued at $5000 and all I had to do was provide a four month dep to secure the loan as prepayment for good faith. The deposit, $900, was to sent via MoneyGram and the loan would be released within 24 hours.
It took me a few days to come up with the funds but I received the contract, reviewed it, and called about the Canadian address/financier that I was supposed to send the dep to. I was informed by Patrick that there were many financiers and that this one was locked into the agreement with me. Once I sent the funds the loan would be released w/n 24 hrs.
24 hrs passed and I received a call from Jeremy Fenwick who said that the insurer reviewed my credit again and decided they could not insure the funds at at the current rate and would need an additional $900 which would make the payments start in April. I stressed the urgency of the matter to Jeremy and tha I did not have the funds like that or I would not need a loan. I asked for my money back when I was informed that in the contract I signed the refund would be processed once a month on their payroll date. Again stressing my situation, Jeremy said there was nothing he could do but if I were able to come up with the money they would release the funds w/n three hours of receipt.
Now with all the questions and doubts you would think... Something is wrong here but when you are in a situation to when you are in dyer need you are willing to believe pretty much anything and not think that people would take advantage of you.
I was able to come up with the funds and sent the money. I confirmed with Jeremy that the funds would be released. He said w/n three hours. Three hours came and went. I called back and he told me to wait a couple more hours. I waited two and called back at which time Jeremy said that he would speak with accounting. When I called back he said that accounting said the financier backed out of the loan but they were legally obligated to comply and that he would be filing legal papers against them. He said he would find another loan for me and process it immediately. He called me back and said he found an $8k loan that required yet another $700 and the loan would be released immediately. I asked him was he crazy and who has money to keep sending for prepayment. Again, if i had the money to keep sending you I would not need the loan. I asked for my money again and was informed of the agreement and that the loan would be processed on 6/27 for $2028 which was both deposits the fees for sending and a $200 inconvenience fee. Too good to be true, probably but what did I have to loose at that point.
I started searching online last night as my refund was due today and came across this ripoff site thought OMG. I can't believe how bog of a sucker I am. Now I am strapped for cash even more than I was and guess what, there was no refund in my account today either. I tried to call the 877 number and it says "Thank you" and Good Bye". There is no way to get in contact with these people. Do not be fooled. If anyone tell you, you need to make a deposit for a loan, STOP in your tracks and DO NOT PROCEED. Call the BBB and report them immediately.
It is sad that with the way things are today people will pray on people who legitimately are looking for a way out and a way to get jump started.
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