As the saying goes if it sounds to good to be true, it usually is. My wife and I got into some finacial difficults in the past couple of years and I started to look into getting a consolidation loan to lower my month credit card payments. Well, because we moved to a new area less then a year ago no banks were willing to loan me the money. So I did some looking on the internet for loan companies. To my surprise there are a ton of them out there and I am writing to inform you "do alot of research" before you sign any paperwork. And, although there are tons of companies out there I need to worn you about Debt Clear.
A rep. From Debt Clear called me one day and told me that I was approved for a $25,000 loan at 8% for 8 years. "Great" I told myself. Talking with the rep. She was very kind and answered all my questions. She told me that there company works with private individuals and they are the ones who actually loan you the money. To process the loan you need either a cosigner that has no debt, collateral, or a deposit equal to 3x your monthly payment.in return they will send out a cashiers check for the full amount or directly deposit to your checking account.
I told the rep. That I need to do some research before I agree to anything or sign anything. That night I got on the net and looked up Debt Clear... Nothing. I did a couple other searches and found information, stating a history of the company and quotes form pervious costumers. Even though they didn't have a direct website, I was happy with the infrmation I found.
I called back the next day and left a massage for the rep. To call me and fax the paperwork to me. She called late afternoon and ask which option of insurance I would like to go with. Well, because I previously moved to a new area and I don't know anyone who has no debt, I opted for the prepayment.
The rep told me it would cost $700 for the payment and she would fax the paperwork and call me in the morning with instructions on where to send the money. I received the paperwork looked it over and everything looked ok. The rep. Called and told me I had to send the money by Westerunion to the lender. She gave me the information and I sent the money. I was also told that any additional cost for sending the money would be reimburst and that I should recieve the check with-in 2 to 3 days.
4 days later still no check, I called Debt Clear and no answer I left message after message after message. A week went by sience I called the first time and one morning on my way to work I called again and a gentleman answered the phone. I asked for the rep. And he told me she was on vacation for the next week. I explained to him what was going on and he said that he will look into it and give me a call back. He called later that day and told me the lender didn't send the check out because I didn't pay the full 3x the monthly payment I was suppose too. I told him that I signed an agreement for $700 and that's what I sent. After a couple of days of this arguing back and forth I finally agreed to send the extra money.
3 days had gone by and no check. Again I called and called with no luck in getting a human to answer the phone. It has been two weeks now and I call everyday 4 to 12 times a day. I have talked to two people in this time frame the firs told me that the original rep. Was out of the office and that the other rep. Was on the phone, but she would give them the message and he would return my call that day. 4 days later I called and talked to another individual that told me I had the wrong number.
I just did some research today on the web and couldn't find any info. On Debt Clear. I did find some advertisment listings for their phone number but nothing on the company name.
Yes I feel like a total ass, and went further into debt. But, I need to write this and hopefully I can stop these bastards from ripping someone else off.
Not Clear of Debt Yet
TC, Michigan
U.S.A.
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