I was looking for a loan to consolidate my bills and I actually have pretty good credit and came accross Ameritrust Lending Services online. It looked pretty good and I decided to apply on November 2nd 2007. On November 8th I received a call from Richard Walker Senior Loan Representative and I was adv that the loan for $11,000.00 was declined but I was approved for $10,000.00 and I was approved for a 6% APR. I thought this is exactly what I am looking for. Richard Walker adv me that there was an initial deposit of $1328.61 that would cover the fisrt 3 months of pmts that is used for insurance and then 2 days later he adv that if the first pmt due on 03-01 is received ontime then the initial $1328.61 will be applied to the balance. I was a little skeptical at this point. The initial agreement was printed incorrectly and I advised I needed it corrected and it took a few days over fax issues to finally receive it. During this time I was advised that the funds need to go thru Moneygram as a person to person pmt per stacy is in accounts receivables in Westock Alberta Canada. I asked why funds need to go to Canada and I was adv the private investor is in Canada and once the $1328.61 is received they then release the $10,000.00 to my checking acct in 10 days. I had checked complaint Sunday the 11th and everything looked good, no issues with this company. I went to my bank and took out $1400.00 on Tuesday the 13th of November and when I got home I called Robert Walker to confirm everything and I was going to Walmart to Moneygram the money. Saving grace... My student loan company called and I was on the phone for over an hour and did not make it to Walmart. I decided to just double check complaint per my uneasy feeling on my final conversation with Robert Walker. I had faxed the signed agreement and State Drivers Licence with addl info and he did not seem to see what I faxed in front of him and kept saying call me as soon as money is sent. Then I found all these reports of the people losing their money, and I thought I was smart because I actually checked first—but all the complaints started right after I checked. I have contacted an attorney and I was advised under no circumstances ever wire money out of the United States unless you know who is at the other end... FYI to anyone who might fall victim to this SCAM... Ripoff report saved me $1400.00 and I hope this helps many people who may apply with Ameritrust Lending Services.
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