Just like the other two articles I found American Credential Lending on line and received a phone call telling me about their program. On 17th of November I signed a contract with American Credential Lending promising me a loan for $15,000 at an interest rate of 9.75%. I reviewed the contract completely and was given two Security options to review and was to choose one option.
Option one was a down payment of $1,104, which would pay for my first 4 payments on $276. My first payment would not be till May.in addition, this option made it possible for me not to have a co-signer, no lean and no collateral.
2nd Option This loan is fully approved upon an up front secured basis policy in the amount of $2,000.00 and the funds are only available for release to the borrower based on the following condition (s). Borrower (s) assures American Credential Lending. And private lender that you will comply with the terms and conditions of the loan agreement. This will give our lender confidence, given your credit status that you will neither default nor be delinquent on any of your scheduled monthly payments. The undersigned will be protected over a (6) Six-Month Period whereas American Credential Lending. Will make due with the borrower (s) monthly payments of $276.00 if job loss, severe illness or serious injury occurs within the duration of the stipulated loan term. This option rewards the borrower (s) a 90 Day Grace Period whereas the first payment of $276.00 will be due in the month of February upon the 90 Day Grace Period expiry. The Insurance Coverage amount of $2,000.00 will be reimbursed to you, the client at the end of the rewarded 3 Month Grace Period and following (3) consecutive payments made due on his/her monthly scheduled payment date.
I was instructed to go to Wal-Mart and send the money as a money gram. I was sweating bullets and decided to make a few phone calls even know they seemed legitimate. I called the NY BBB and requested any negative or positive information on American Credential Lending. They stated they have no record of American Credential Lending and that NY is not required to register with the BBB. I called Vanessa back and stated that I was not sending the money unless I talked with the third party lender. Minutes later he called me and assured me that I was doing the right thing. I was instructed to send the money Gram to Terry Shaw in Calgary, Canada and call back with the reference number. Vanessa stated when I called her with the ref number that the money would be in my account with in the hour but I would not see the money in my account for 24 hours because the bank probably won't check the wire transfers till morning.
I waited 24 hours and called Vanessa back and stated that the money was not in my account. She acted surprised and stated she would call the lender, and then call me back. She called me back 1 hour later and stated that the loan was not approved because I was a high risk loan. She stated that the Angel Investor would be willing to give the loan but that I needed to pick option 2. I needed to send another $1,000. I told her you have all the money I have and I can't do anymore. I then stated that I demanded a refund. She stated it would take 30 days before I would receive my refund. I stated you got my money in minutes why can't you refund my money in minutes. She said it does not work like that way. I asked to talk with her manager and she stated that she will have him call me. The manager never called me back and I started having problems getting through to Vanessa. I decided to play her game and say I was coming up with the rest of the money so I could keep her talking to me.in the mean time I Google earthed her location and tried to track the phone number she was calling from. We waited 30 days and then called her. She answered the phone and stated that the refund was mailed last week and I should be receiving it soon. We waited and waited for the money but never received it. It is a good thing I was holding my breath or I would be dead. My wife called back very upset and threatened the my husband is an agent and that the FBI was looking into your scam and that she has ten days to send the refund to me. At that point the website was gone and the phone numbers stopped working.
I have filed reports with the FBI, NY BBB, and Federal Trade Commission and know with complaint. I believe if we compare notes and documents with one another through e-mail and phone we might nail this bitch. I have still not recovered from what American Credential Lending did to my Family.
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