I was looking for a loan to help consolidate bills. I applied online, and a couple days later got a call saying I was approved. I was told that because of my credit history I had to have a co-signer or purchase an insurance plan. Since I didn't have a co-signer I opted for the insurance. I had checked out Koch Financial Services online and didn't find any complaints, they seemed to be a legit company that had been in business for several decades. So I went ahead with the loan. I sent them $925 for the insurance plan. I confirmed with the senior loan officer I was working with, Nicolas Wade, that the payment went through and the loan would be deposited in my account. When the funds were not deposited, I called back and was told that upon second review of my credit history I would need to purchase the full insurance package, which would cost $570 more. I didn't have it. So I told Mr. Wade I did not want to proceed. He told me the initial $925 was being refunded to my account. I was supposed to have it by 6/30. Today is 7/3. I still have not received the refund. And now he is not returning my calls or emails. Now when I do a search on the company, there are several complaints about people being scammed by Mr. Wade and Koch Financial Services.
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