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Kathryn Edwards
July 17, 2009
Loan
On July, 15 2009, I was informed that I was accepted for a $5000.00 loan. I spoke with a representative about the procedures on obtaining this loan. I was informed that I had to send the first 4 payments up front for "collateral", and the money would be deposited into my account on July 16, 2009 by 5pm, and if it wasnt there, to call back. Yesterday, I did just that. I contacted my financial institution to see if the "direct deposit" was showing to post. I was informed that there was not one. I called the company back and informed them that my money was not there yet. He went on to tell me that my lenders had changed and that the money I had sent through moneygram to Canada was indeed now through Spain and the used western union and the money would be ther first thing in the morning. I was informed to call if the money wasn't in my account this morning by 10AM. I called the bank and indeed the money wasn't there again. I returned the call to the representative of the company I had been dealing with and he told me that there had been a block put on my account, for me to call back and talk to customer service, which I did. Customer service informed me that the reason my account had been blocked was because the "insurance company" is considering me a high risk and for the loan to go through I would be required to pay another 4 payments up front. Now mind you, I used my bill money to pay for the first 4 payments with the understanding that the money would be in my account just as I was promised. I was not informed of any changes in lenders or the insurance company's decision to require more money as a down payment for this loan. I am now negative in my checking account and according to the company, I will not be receiving my money back until August 14th due to the lenders billing cycle already being past the date. I paid $870.00 and $15.50 to moneygram for a toal of $885.50. I am very upset that I was strung along for 2 days and now I cant pay my own personal bills. I encourage you to make sure you investigate as much as possible before you go through with anything online. It sure has taught me a lesson. I will never send money first again, much like get another loan off line just because I am in need of some extra cash.
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dee3676
July 17, 2009
Scam
Upon filling out an online application a representative calls you to inform you that you've been approved for a loan (in my case $20, 000) He faxes over a contract that looks legit and asks you to review, sign and fax back. You will be then asked to provide a downpayment ($2315 in my case) He will want you to Moneygram it before they can release the funds. This is a scam! Please beware of this company. Milton lending Services
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