I filled out for a personal loan of $10,000, but since I was "high risk" credit they required a deposit of $1460 (6 months worth of $240.00 payments.) Later that day they told me the company reassessed my loan for ANOTHER 6 months worth of payments. (Which WAS written in the contract that they were allowed to do.) I sent them the reassessment of ANOTHER $1460 via money order, and they told me that my money would be in the bank the following business day.
The following business day (monday) Mark Hammilton called me and told me that the loan company that they went through backed out on the contract and that I have grounds to file a lawsuit against them for breaking a written contract. But the "good news" of this was that he DID find another more RELIABLE company that was willing to give me a loan for $20,000. But the the kicker of THIS loan was that they needed 24 months of payments (Which equaled to a total of approximately $5,900.) They told me that the company took over the contract and that the money I already sent would be added to 24 months I needed to pay them ahead of time, meaning I only had to pay ANOTHER $2,900 to get $20,000.
Basically I intended to get a $10,000 loan, but after all of the running around, they are trying to now offer me $20,000, but I have to PAY them $5,000 to get that. My question is... If I had $5,000 EXTRA dollars, then WHY would I need a $10,000 loan to begin with?
When I asked for my refund, after I had told them that I gave them the very last bit of my money AND borrowed money from close friends, I FINALLY told them to just give me my money back so I can pay my house payment. Their answer to that was that my money could not be refunded back to me until 3 weeks from now.
They ASSURED me that I would get a full refund from the lawsuit I'm filing against the company that broke contract, and ANY losses (including my house) would be reimbursed to me through the law suit. I have not sent them the extra $2,900 to see if what they're doing is a scam or not, but I feel so insecure about this company now that I doubt I will follow through to find out, but what I AM going to do is take every step I need to take to not only get my money back, but to put these people in their place and make them think twice about EVER doing this to anyone else again.
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