I applied for a loan and was approved 100%. But, because I have poor credit, they required me to make a collateral down payment which would in turn cover my first four payments. I was faxed a contract to sign and send back, which I did. I then was given a name and city and state to wire the money to which was in Canada. I thought it was a little odd, but did it anyway. I was assured that my loan would be transferred into my bank account within 2-4 hours. I was unable to make contact with the company after that. The next morning I did make contact and was told that I needed to send a security deposit because I had bad credit. I argued the fact, but did send the money. I even received a confirmation letter by email stating the funds would be released to me within 2-4 hours. After that, I could not make any contact with them. I started doing some serious checking and found that I am not the only victim of this particular fraud ring.
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