• Report: #537270

Complaint Review: Development Of The New World

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  • Submitted: Thu, December 10, 2009
  • Updated: Wed, January 19, 2011

  • Reported By: Guest — United States of America
Development Of The New World
1940 Harrison Street Hollywood, Florida United States of America

Development Of The New World Daniel Sheps loan scam, credit establishment scam Hollywood , Florida

*Consumer Comment: rebuttal to the report is false and misleading

*UPDATE Employee: Response

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This company claims to establish business credit. They say they can get a personal loan and also up to $250K in business loans.  They run a preliminary report, tell you everything looks great..then take your money and produce absolutely zip.


The business credit is predicated on you establishing a C-corp...which of course they will handle.


Then, they will apply for a binch of credit cards with introductory cash advance rates. Whatever credit line they get for you will be reduced by their 10% finders fee. So ---if it all worked by their standards, you'd be left with 90% of the credit they "establish" for you. Then you'd be stuck owing 100% to the credit card company (in your coporate name)--and as soon as the introductory rate ran out, you're stuck with high interest rates and oh, by the way, the credit card company charges a 4-5% upfront fee anyway. Immediately then you are paying 15% on the money you borrow.


I was desperate at the time. I still told them no after they told me what the next steps were. They were supposed to get me a personal loan first. Once that fell through, I declined all the credit card applications they were going to put in for me. So---i'm only out the $700 credit application fee.


Beware.


This report was posted on Ripoff Report on 12/10/2009 12:44 PM and is a permanent record located here: http://www.ripoffreport.com/r/Development-Of-The-New-World/Hollywood-Florida-333020/Development-Of-The-New-World-Daniel-Sheps-loan-scam-credit-establishment-scam-Hollywood-537270. 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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REBUTTALS & REPLIES:
0Author 2Consumer 0Employee/Owner
Updates & Rebuttals

#1 Consumer Comment

rebuttal to the report is false and misleading

AUTHOR: Ripped off - (United States of America)

First of all this report was not originally written by the Andy personthat Mr Moreno calls out in his rebuttal. 2nd...no creditcards were applied for because the original personal loans were never obtained. I was told they were approved and in process and should have money in 10 days...but that never happened. In the meantime they wanted me to pay them to establish a C corp so they could then write credit card applications. I declined realizing that all they wanted was to generate more fees. No refund was ever given. They did NOT fulfill their promises. AND within weeks after supplying them with personal information I was the victim of credit card fraud. Their rebuttals appear to be more smoke and mirrors as they call out random individuals to make the reader think that they have a valid excuse and the complainer must be some eccentric disgruntled consumer or ex employee.

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#2 UPDATE Employee

Response

AUTHOR: DVNW - (USA)

First off, we apologize for any inconvenience that you might have incurred; however, you mention we didn't produce zip and almost immediately after proceed to contradict yourself by mentioning we applied credit for you at promotional introductory rates. Credit introductory rates you had mentioned typically may last between 6-18 months at 0% interest rate for the program you signed up for. In most cases the credit built is unsecured, based on stated income, and the credit usually reports to the business Equifax and typically not on a personal credit report. We did do our job in assisting you in getting credit built, but unfortunately you refused to pay because of miscommunication and we gave you a refund of $750 (not $700) for the inconvenience. We would appreciate some clarification regarding that. We understand in business you can't please every single customer but if there is ever an issue with any one of our current, previous, or future clients we are always happy and willing to resolve any situation even if there is an issue like the above referenced one that Andy Suilaman had.
Thank you.

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