I applied for a loan with Casaloan Services, Inc. I was approved for a $7,000 loan. I was told due to my credit i would need to provide a collateral payment of $1,095.00 based on my credit score. I told the loan officer that I didn't have that kind of money and what other options did I have. She called me back later that day and told me that her supervisor had agreeded to let me pay $500 of the 1,095 and that I'd have to pay the remaining amout out of my loan. I was told this money would be held in trust for 3 months and then would be returned to me. (I spoke to a another financial advisor and was told some loan companies do this if the person they are loaning to has less than good credit) so I proceeded with the loan.
The night my loan was suppose to be wired into my account it never appeared. I was informed the next morning that because of my credit score they had put a stop payment on the loan and told me they were requiring I purchase Insurance for the loan at a cost of $797.00
I told the "loan officer" to cancel the loan and refund me my 500.00 at first she told me it would have to be held in trust for 3 months and I told her no it didn't because I didn't take the loan and I wanted my money back. She stated she'd process the refund and I'd have it within 7 to 14 business days and that an e-mail would be sent when the refund was processed.
A week passed and never received e-mail. And couldn't contact the "loan officer" when I finally reached her she hung up on me. A week later I received an e-mail stating my refund had been processed and the refund would be sent out within the next 14 to 30 business days. That 30 days is almost up and I've received no refund.
This company cheated me out $500.00 and has all but disapeared and is promising a refund but is not following through.in my eyes this is a Scam.
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