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Report: #292155

Complaint Review: First Point Loans - Wichita Kansas

  • Submitted:
  • Updated:
  • Reported By: Akron Ohio
  • Author Confirmed What's this?
  • Why?
  • First Point Loans 111 West Douglas Ave Wichita, Kansas U.S.A.
  • Phone: 866-467-5127
  • Web:
  • Category: Loans

First Point Loans ...is a ripoff!!! Wichita Kansas

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I applied online for a personal, unsecured loan to pay off bills, get ahead on bills a little bit, and to help rebuild my credit. I was contacted by First Point Loans saying I was approved for $10,000 if I could send them "the first four monthly payments as collateral", totaling $960. I got an advance on my paycheck and sent them the money.

The next day I get another call from them saying that the lender "reassessed" my application and that to secure a loan of that size with my poor credit, I would need to send another $960. They assured me that my application could not be "reassessed" a second time and that if I sent the additional funds, my full $10,000 would be direct deposited into my checking account within 24 hours.

Fool me once, shame on you; fool me twice, shame on me. I did not send the money. I requested a refund of the $960 that I originally sent to them and was told that the full amount would be refunded, plus the $14.16 I spent to send it to them via MoneyGram, at the end of their pay cycle, Dec. 14th, 2007. I called several times during the week prior to 12/14 and was assured that my refund would be sent by overnight delivery on the 14th.

No surprise that I did not receive a FedEx package the next day, nor have I received one yet today (12/17). I tried to call them this morning and I get a recording that says (partially cut off) "...account has been temporarily placed on hold. Please contact customer service. Thank you. Goodbye."

I have learned a very hard lesson, especially this close to the holidays:
DO NOT SEND MONEY UP FRONT TO ANYONE AS "COLLATERAL" FOR A LOAN.

I have seen other reports on this site regarding the same company. Hopefully more reports will prevent this from happening to anyone else!

Vicky
Akron, Ohio
U.S.A.

This report was posted on Ripoff Report on 12/17/2007 09:10 AM and is a permanent record located here: https://www.ripoffreport.com/reports/first-point-loans/wichita-kansas-67202/first-point-loans-is-a-ripoff-wichita-kansas-292155. 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. Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report. READ: Foreign websites steal our content

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