On April 29th I received a phone call from Chad Summers stating that I had been approved for a loan of $5,000. But based on my credit history, I needed to put a collateral payment of $775.00 down. This collateral payment would secure my loan, and push my first payment date out 6 months. I know my credit is pretty bad, so asking for a collateral payment didn't seem irregular to me. I spoke with my parents, and they also spoke with Chad Summers. We agreed to upfront the $775.00 and send the money via money gram. My first clue that something was amiss should have been when they told me to wire the money to a Michelle Clayton in Alberta, Canada. But, dummy me, I did it anyways. I wired the money and sat there waiting for my loan to be deposited. Low and behold, it wasn't deposited. I called the next day, and spoke to Reuben Jenkins. He said that because of my credit history, the private lender had asked for an additional $775.00 down. Reall retarted me, I fronted the additional money to them. Reuben assured me I would have my money in three hours. When my money was not deposited, I called yet again, and Reuben stated that their lender had backed out of the loan. He stated that they had another lender lined up willing to finance me $7,000 but they needed an additional $550 down. I told him no, I wanted the loan you garunteed me at the rates and terms you garunteed me. He said he would work on it and get back to me. I waited for 3 days, calling him every day, and got nothing. I finally said I wanted my money back. He said he could get me my money back on May 23rd. I told him I wanted to speak to his boss, and he informed me that he was the highest individual that spoke with customers. Obviously, I never received my $1550.00 back.
This company is a scam. I am a single mom who is going to school full time and trying to make ends meet. Because of these people, I am now out $1550 and struggling to make ends meet. The lesson I've learned is never wire money out of our country, and never borrow from a lender you've never heard of. I hope these individuals do get caught, and I urge anyone else who has been ripped off by these people to file a report with the government at www.ic3. Gov this is the website for the U.S. Federal Goverments internet crimes devision.
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