ED Magedson – Founder
Cardiff FinancialDel Mar, California USA
Cardiff Financial Leasing Bank of Cardiff They are attempting to loan money at an illegal interest rate. Del Mar California
Cardiff Finance and leasing Bank of Cardiff representatives are attempting to loan money at rates that are astronomical and probably illegal. I worked with them on a loan for my company and after paying fees for them to research my background, I was provided a proposal to borrow $25,000 with a 12 month payback. I was to pay on the loan every working day of the week using 252 weekday payments (Yes, a payment every working day) That totalled a repayment of $35,249.76. That is an interest payment over the term of the loan of $10,249.76 to borrow $25,000.
They were initially discussing a 7% interst rate for 3-5 years, and then explained when they made the proposal that the rate discussion was just an example of the total interst that I would be paying, but i would be paying it back in a shorter period (12 months).
This report was posted on Ripoff Report on 03/14/2014 04:06 PM and is a permanent record located here: http://www.ripoffreport.com/r/Cardiff-Financial/Del-Mar-California-92014-2562/Cardiff-Financial-Leasing-Bank-of-Cardiff-They-are-attempting-to-loan-money-at-an-illegal-1130752. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.
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