On or about the weeks of 07/03/08 and 07/10/08, i went online to find a loan company to get my son started in his property maintenance business.
I found a directory of loan companies website; one of those websites where all you put in is your basic info name, address, cell number, how much money you need on the loan and what your income is and it gets submitted to different loan companies. Obviously, more than one loan company gets your information because i had more than one offer. I did not write their names down until i got a call from kim porter with stable financial.
She called me and told me that i had three ways of securing the $25,000 loan.
1. Pay $2500.00 up front.
2. Put up a car or house title for collateral.
3. Get a friend or family member to put up a car title or house title.
Well, i think they know that if youre starting a new business, putting up the $2500.00 is the easiest way. On 07/16/08, she emailed the loan agreement to me. I signed it, scanned it and emailed it back to her on 07/17/08.
Yesterday, july 21, at 1:03 P.M., (im saving all phone call information, i taped it) kim porter at stable financial called me and told me that i needed to go wire the $2500 via western union right then so i could get it done in time to get my loan within an hour or two. Kim said when you get to western union, call back and talk to kelly thompson and she will tell you exactly how to fill out the payment form. So, at approximately 1:45 P.M., i went to kroger to use the western union. I called kelly thompson at stable financial. She told me to use the green form, not the blue send payment form. I thought this was odd but i got the green form. She said to make it out to send to eddie young. I said why not stable financial? She said eddie young is who is co-signing on your loan so you can get it within a couple of hours.
So, i wrote send to eddie young. Kelly told me to put the city as victoria. Bc. Canada so, i did. I paid $2,628.99 altogether. One thing i thought was weird is, kelly said on your information, just put your city and state, not your street address. However, the lady at kroger who was sending my money, said we need to have your street address on here too. So i gave it to her and she wrote it on the form.
I had to call kelly back with the mtcn (money transfer control number) and she asked me how much i sent and how much it cost me to send it. She then told me she needed my bank information so when the western union was verified, she could direct deposit my $25,000 loan. I gave her the direct deposit routing number and account number of my son and my joint savings account information. I didnt feel comfortable giving her my checking information. I had a feeling a bad feeling but i was trying to ignore it because i wanted this loan so badly for my sons sake.
After i gave my banking information to kelly, she told me to call her back in an hour to an hour and a half. So, i came home (i work from home) and at approximately 3:45, i called her. She said the company you sent the downpayment to their computer system is down and they cant verify your payment so the loan is cancelled and youll be getting a full refund, plus $300 for your trouble on monday. (a week, because yesterday was monday.)
I went off. I was angry. I didnt understand. At that point, she had the nerve to say if you want to send another $2500, we can go through a different co-signor company or if you want to use one of the other two different method of securing the loan, we can do it that way. I said i already secured the loan by wiring $2500 via western union. I want my loan you promised me!!! I hung up on kelly because i was hyper-ventilating, i was so angry. She called me back on my work phone from the number 646-536-9090 and said um, i think we got cut off. We are not a fraud company. The loan is still available. We just cant use that co-signor you just paid. It costs us $575 per day to keep this same loan open and so we have to cancel that one and use another method of securing the next one or you can send another $2500 and we will just use another co-signor.
I told her: what i think is, there never was going to be a loan for $25,000. I think you take peoples money and then invest it or use it get interest in canada for a week or something but you never intended to loan me $25,000 and you just stomped all over my dreams and my sons dreams of opening his own company because now i dont have another $2500 to put down on a real loan company. She said well, youre getting all your money back. Theyve already sent it back to you. Its on its way back to you. I told her that getting my downpayment back isnt helping me. I needed the loan.
To anyone who can help me prosecute stable financial and their cohorts:
I have the loan agreement. I am sending it to you along with this explanation of what stable financial did to me. They are taking peoples dreams and stomping on them. They made me think this was going to be so easy. Just pay the 10% downpayment to secure the loan and i was going to get the $25,000 i need to get my sons business started. I will not stop until every federal government agency has a copy of this letter and the loan agreement and all information on stable financial, enclosed or attached is a copy of my western union receipt and all names, numbers of stable financial their email (s) and their website information so this doesnt happen to anyone else. Please help me.
July 22
rebecca
cell phone
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