Guelf Financial Solutions assured me that I was accepted for a $10,000 loan, but, as collateral, I had to purchase an insurance policy to secure the loan. Originally, the deposit was to be $1,140 for the insurance, but, when I said that I could not provide that amount, the payment was reduced to $570.
I foolishly sent that amount via Western Union (in retrospect, the fact that the destination was Ajax, Ontario should have been a red flag). The deposit was immediately picked-up as soon as I provided the receipt number. Guelf then informed me that the loan would not be released until I paid the additional $570. At that point, I requested to withdraw the loan application and have my deposit returned.
Guelf representative Amy Stewart told me that it would take 6 weeks to process the paperwork for my refund. (They originally told me the loan of $10,000 would process in 2 hours!) So, it takes 2 hours to process a $10,000 loan, but 6 weeks for a $570 refund!
Was I ever dumb! I am still waiting for my refund to process. What are the odds that it will ever actually happen?
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