Mitchell and Rose Financial Do not do business with these people RIP-OFFS Cambridge, Maine

This company contacted me, to say that they can help me with a loan. I had previously been trying to get a loan which is why they contacted me.



Well, the company already knew that I had negative issues with my credit. I was told thats what they specialize in and offer loans that banks don't



I was "approved" for a $5000 loan. However in order to get it, the company needed some type of collateral. My first option was to use a car but I don't own one now. So my other option was to have an insurance company take out some type of policy on my behalf to show the investors (who supposedly sent the money to Mitchell Rose) that I wasn't a risk. I had  to send them 5 months worth of what my monthly payments would be which totalled about $781.90. This amount would be used as collateral and that would leave me payment free for the first 6 months and that money was going to be credited it towards paying back the loan.



In order to get funded after the documentation was complete, I had 2 options. I could mail them a certified money order or check for the amount and then have to wait 10-14 business days to have my funds sent to me by mail or direct deposit.



The second option was to send funds via western union which would mean getting the loan in 1 business day. I wanted and needed this money asap so I wanted to the quickest way. So I wired money to an individual in Spain cause this is how they operate with oversees investors. I started to send him the first 700.00 dollars via western union and Mr. Noah Dodge, who was my agent told me to give him the MTCN number, so that he can send the info to the person waiting for the funds - some one by the name of Samuel Lyones Mr. Patterson told me that I should have my funds between 2-4 the next day.



I checked my account periodically during the day only to realize that it was after 4 and no money. I started to call and email Mr. Dodge and I didn't get a response, until later that day another man from accounting called to tell me that I did everything correctly but that their was a problem. Supposedly, the insurance company, felt that I was more of a higher risk than previously believed. I was never told what the issue was relating to my credit which was already checked by Mitchell rose in the beginning.



I was told that if  I sent an additional $781.90I would get the loan. And when I asked the man what will make it stop there? Will the company try to hit me up even more before seeing a penny? He was like saying "no, because your risk can only be assessed once.



I told the man that I couldnt afford another $781.90 and that I was in a very tight spot by sending them the first amount. I was then told to think about it and I said that there was nothing to think about cause I can't send more money. I was then told to ask for a refund, which is what I did. But now I have to wait until July 15, which is their billing cycle. When I expressed how angry I was, the man referred to some small print on the contract that I signed. The small print said something about the company (or investor) has a right to request more collateral if deemed fit.



The man said that if I mailed them a check, he could have easily refunded my money cause it would be in the US. But since the funds went oversees is why I have to wait.



I fear that they're not going to return my money and they have my banking info such  as acct number. This is why i filed this rip-off report