On September 8th, we were notified by phone that we had been approved for a loan with Kingsway Associates. Mr. Trevor London was to be our loan officer and he told us that we would need $765.00 for loan insurance.
Since we were desperate, and have bad credit, we told him that we could only afford to pay $550.00. We wired a man in canada, named Danile Wan (which Mr. London told us he was the broker for the insurance company).
Mr. London of Kingsway fax us some papers, which by the way look very legal. There were loan papers, and papers from the insurance company (Bernam and Thorpe, which we have now found oout does not exist) and told us that we would have our money deposited into our account on Friday the 22nd of September.
We needless to say, it is now October 2, and we now realize that we have been ripped off. We tried to e-mail the company, e-mail address does not work, we tried all of the phone numbers, no one answers. The phone number for the insurnce company rings and an answersing machine comes on to leave a message, but no one calls you back. The phone number stated in the privacy policy on their web site is some sort of number for MCI.
Now we are out 602.00 and can't pay our bills. I hope this does not happen to any one else, please do a little more research than we did.
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