I was up one night trying to find a company to finace a loan so I can pay off some bills. I ran across PenEquity's website, fill out the basic application and waited to hear from them.
On 5/5, I was contacted by Mr. Francis Camposadvising I had been approved for a $5,000 loan. He went over the financing ouline [Annual % rate (6.3), Monthly payment ($246.86), Finance Charge ($6,849.28), Loan Term (48), Total of Payments (@11,849.28) & Initial Monthly Payment ($740.58 = 3 months of payments in advance). I asked why they required an intial monthly payment. Mr. Compo explaines they could not give me an unsecured loan, therfore the intial payment was a stipulation/requirment by the bank; he gave an example of having to have a down payment in order to purchase auto insurance — like a guarantee. I asked that Mr. Campo email and or fax the details. Mr. Campo faxed the information to me on 5/7/09 and advised of me needing to review/sign the contract, provide proof of income (W-2 & paystubs), checking account information (to have the funds directly depostied into my account) and a copy of my Drivers License. I reviewed the contact and everything looked leggit to me. I had the other documents as well, therefore I faxed the paperwork back on the same day. Mr. Campo confirmed the paperwork was received and that he would contact the bank (lender) but he wouldn't get back in touch with me until Friday (5/8/09). He also advised my first payment wouldn't be due until September 1st; to off set having to come up with the initial payment. Mr. Campo contacted me and advised the bank/lender gave their final approval after reviewing the paperwork I faxed. He advised I would need to send $740.58 via Western Union. I told him that I would pull my funds together and get it sent. Once I had the funds togher, I called for Mr. Campo but he wasn't available. Mr. Campo wasn't available but a customer service rep., Daniel Barrett found my file and advised the bank/lender requested that PenEquity talk me through filling out the Western Union for while I was doing the transaction; because I was a first time client. Mr. Campo called me back about 30 minutes after Mr. Barrett had talked with me. I called Mr. Campo when I arrive to make the Western Union transaction. Mr. Campo told me to send the money to a Jeff Roland (advising this was the officer over my account at the bank/lender). I should have thougtht something when Mr. Campo told me to send the money to Toronto Onterio Canada... Red Flag! I provide Mr. Campo with the MTCN - Mr. Campo advised I would be reimbursed the $55.99 Service Fee, which means I was out of $795.99 for a $5,000 loan. Mr. Campo thanked me for making the intial payment and advised my account will be funded that Saturday morning because my bank is open on Saturdays. Saturday morning the money wasn't there and I thought it was because of the weekend and how some banks post weekend transactions. Monday morning it wasn't there, nor was it in a pending status. I called all day on Monday but no one ever picked up; only got voice mail. I had several other family and friends to call but they are just getting voice mail too. I called all day today (Tuesday), voice mail again. It's out of my hands now. I'm letting the authorities handle it from this point on.
I hope and pray no one else gets tied up wtih this company and these guys because they are crooks. With times as hard as they are, most folks don't have time nor money for things like this. This has upset me and it has set me back, but it will not defeat me. I believe in a God who can handle this issue with ease. I want justice to be served but I do pray for the individuals involved.
0 comments