I would like to warn everyone about a supposed Bad Credit lender that I just encountered. Luckily I'm not the most trusting person in the world and I do extensive research before believing I've found the miracle answer to my prayers. Due to a surprise mini audit from 2006 (who would've thought) my fiance and I are now $5,000 short for our wedding which is in two weeks. We were just about to pay the rest of the wedding off when this happened. So in a high state of panic, I saw a website called agfinance.com that would hook you up with lenders despite the fact that you have bad credit.
I got a call from a Thomas McNeil at Kensington Financial Group. He claimed to have a private lender that has made the $5,000 available to me in the form of a collateral loan. That's fine. Legitimate collateral loans do exist I just can't seem to find one that will approve me at this time. So anyway, he went over the details and said I would get a 6% fixed interest rate on a 3 year loan and my monthly payments would be $152.11.
Okay, I'm listening... So he proceeds to tell me that I will have to put down a collateral payment of $608.44 to pay the first four months of the loan and that the payment would be used by the lender to by insurance on the loan should I lapse. Still reasonable. But since I almost got scammed by another company before I decided to ask the right questions this time. I asked if they belong to any state associations or the better business bureau. Nope. I asked if they had any legal documentation they can provide me with proving they were a legitimate company. Nope. Mr. McNeil verbally assured me they could be trusted. That's lovely but not enough for me.
The only thing he offered so that I could verify their existence was to say they'd been in business for 14 years and he's been with them for 7 years and I could check out their website, www.kensingtongroup.org and their address as stated above. The website looked legitimate enough but that means nothing. I googled the address and found a company that was at the address.
I called the company and asked about Kensington Financial Group. They'd never heard of them. I asked for the building management's number, which they happily gave me. Upon speaking to the building manager she told me that I was the third person this week to call her asking that question and that unfortunately there was no such company in the building. She was a very nice lady and I gave her some of the details so she could be aware just in case she got any other calls. My fiance then decided to call Mr. Thomas McNeil back and give him a piece of his mind.
Please, please beware of this scam!
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