I applied for a loan on line thru some loan finding web site, a few days later I received a call from a Robert Whittaker at New Castel Fidelity Goup,advising I had been approved for a loan of $10K, I of course was immediately excited with this being the holiday system.
This loan offer was the best I have ever received in my life. $10K for 5 years at 7% fixed interest rate. TO GOOD TO BE TRUE. Red flags went up.
Mr. Whittaker advised he would fax the loan documents to me. I questioned how I was approved for a $10K without providing proof of income and credit history (those red flags), Mr Whittaker than stated that they are not a loan company, however have located a company that approved me for a loan therefor he is not sure what criteria they used. I than questioned what commision New Castle received, he stated they are non-profit (red flags).
Mr. Whittaker however than stated that I had two (2) options before funds could be released, I could pay 5 monthly payments in advance of $1200. and my first payment would not be due until May 07, or I could take out insurancre on the loan which would pay if I became ill or unemployed, the premium would be $1250, however after one year I would receive 1/2 of the premium back. I suggested that they reduce the loan amount by the $1200 pre-payment and send me $8800.00, Mr Whittaker stated that the pre-payment is a sign of good faith on the loan (red flag)
After receiving the loan application I went to their website and noticed that it is only a front page site, although it appears there are links for additional information, when you click on a link you remain on the front page, no address or telephone number. I then searched for New Castle Fidelity and found New Castle Lending also in Calif.
I thought it was odd that the fax cover sheet from New Castel Fidelity was similiar to the web logo for New Castle lending, so I called New Castle Lending and questioned if they were affiliated with New Castel Fidelity, of course they were not.
I called Mr. Whittaker, did I mention that whenever you call you get a instructional message however regardless of what buttons you push you end up in a voice mailbox, so I left a message for Mr. Whittaker to contact me.
When Mr. Whittaker called right back I presented several questions 1.I cannot locate you company on the Better Business Buerau, his answer: Oh we are there why are you looking for the company on the BBB? 2. My next question, why is your website a front page only. answer: We are experienceing problems I will have this checked out. 3. Why eveytime I call you I have to leave a message and you call me right back? His answer We fund over 100 loans a day I cannot just sit at my desk an await someone call.
I played the game and advised Mr. Whittaker I was faxing the application back, than he questioned how they would receive the 5 months in advance, his suggestions, auto debit from my checking account, for 24 hour turn around on the loan funds, however if I chose to send a certified ck or money order it would take at least 10 days longer to receive my loan.
I than asked who to make the payment to, his answer New Castle Fidelity, so I asked why would I not make the 5 months payment to the Company providing the loan as well what is the name of the actual loan company, his answer was that New Castle is the loan company, so I refered him back to our orginial conversation, he had no response. As of this date Mr. Whittaker has not returned my calls, guess he realized I was to alert for him to continue to attempt to scam.
Note: I was not able to loacte New Castle Fidelity on the BBB website at the time of this intended scam, however I filed a complaint and as of today new Castle Fidelity is listed as of 11/15/06. All consumers should know several years ago the BBB had a consumer information note that stated "if a company requires you to pay any up front money for a loan or grant it is more than likely a scam, a legimate conpany will reduce the approved loan amount by any up front application, processing or other fees" This consumer alert saved me from being scamed several times over well as this time.