Ocean Blue promotes a personal line of credit on their website. They offered, at the time, a 21 day funding guarantee. I signed up for the service June 18 and paid by Paypal. After paying the money and seeking updates, I found that the 21 day guarantee was bogus. Alexander Diamond said that their parent company sent a funding list on the 25th of the month, so July 25th would be the first funding list, with funds sent out a few days later. That violated the 21 day guarantee they singed on contract. On July 25th, I got an email late in the day saying that the parent company was running behind on the funding applications. I was told that funding would now happen August 25th. A one month delay. Today, August 25th, I get another delay excuse for funding until sometime next week, if that. The chargeback window is down to 2 days now. I hold no hope that this company will perform as stated. They do not honor their guarantee, they give last minute delays and excuses why funds are not being sent, they conveniently do not answer the phone or return email when they send out delay notices, all classic signs of a company operating illegally and scamming people for money. Their excuse not to honor a refund will be that that the chargeback period has expired and that it is out of their control to the "exact" time of the funding. I am going to send information to the FBI, the California state attorney general, the IRS and any other investigative arm of law enforcement to see that these people are shut down and prosecuted. I suggest any other victims alert everyone they can to shut them down.
August 25 email: "we talked to the lender yesterday in much details and did our best to expedite the funding. Lender has stated as soon as the money comes in from the bank the funding will take place on your file. The lender was expecting $7 Million last week from a bank but that was delayed due to some documents were not updated or filed properly on time. We are on top of this and will hopefully resolve this matter by end of next week. Thank you for your patience."
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