• Report: #370680

Complaint Review: NorthAm Loans

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  • Submitted: Sun, September 07, 2008
  • Updated: Fri, October 03, 2008

  • Reported By:San Francisco California
NorthAm Loans
www.northamloans.com Chandler, Arizona U.S.A.
  • Phone:
  • Web:
  • Category: Loans

NorthAm Loans Steal your money, empty promises, unsupportive, Chandler Arizona

*Consumer Suggestion: If You Have Been Scammed By Northam Loans...Read This!!!

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Their have a "perfect SALESPERSON". Offers and makes "perfect" sales pitch but never follow up with facts.

They "sell" you a promise, but you receive nothing but a fabricated figures. I had several individuals complete the forms within a 1 week period, only one was ever recorded.

I was GUARANTEED A MINIMUM OF 100% RETURN OF MY INITIAL INVESTMENT WITHIN 6 MONTHS. I WAS UNEQUIVABLY TOLD THE 35 YR OLD OWNER OF THIS BUSINESS, WAS SO OVERWHELMED WITH THE SUCCESS, THAT THIS SALESMAN WAS AUTHORIZED TO GUARANTEE ME THAT I WOULD DOUBLE MY INITIAL INVESTMENT IN SIX MONTHS.

GUESS WHAT: LAST LOOK, WHILE TRYING TO GET MY INVESTMENT BACK, BY DISPUTING THE CHARGE --THE LIES CONTINUED. SO TO SUPPORT MY DISPUTE, I CHECK MY ACCOUNT PROGRESS AFTER A FULL 7 MONTHS, I EARNED LESS THEN $90.00 ( YES NINETY DOLLARS). APPROX. .0025 OF MY INITIAL INVESTMENT.
I FILED A REPORT WITH THE BBB IN AZ, WHO HAD ALREADY MORE THEN 30 COMPLAINTS, I HAVE ALSO FILED A COMPLAINT WITH THE ATTORNEY GENERAL'S OFFICE IN AZ.

IF ANYONE HAS A MEANS OF HELPING TO RECOVER MY "INVESTMENT" PLEASE HELP ME. I AM DISABLED (WHICH THE SALESMEN KNEW) AND HAVE LOST EVERYTHING AND AM TRYING WITH DESPERATION TO PAYDOWN THE CREDIT CARD CHARGE. I DO NOT WISH TO DIE IN MY CAR, BUT I AM UNABLE TO STRETCH MY DISABILITY BECAUSE OF THIS "SMOOTH" COMPANY AND THE 3 OR 4 EMPLOYEES

Elizabeth
San Francisco, California
U.S.A.

This report was posted on Ripoff Report on 09/07/2008 04:18 PM and is a permanent record located here: http://www.ripoffreport.com/r/NorthAm-Loans/Chandler-Arizona/NorthAm-Loans-Steal-your-money-empty-promises-unsupportive-Chandler-Arizona-370680. 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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Updates & Rebuttals

#1 Consumer Suggestion

If You Have Been Scammed By Northam Loans...Read This!!!

AUTHOR: Brian - (U.S.A.)

There is a case that was filed by the FTC against a company called The Results Group. Like Northam Loans, they had high pressure 'advertising coaches' that would pressure people in spending thousands and make very misleading statements about earnings and risk to induce people to purchase advertising packages. However, very few people were even making the intial investment back on their money.

There are strict FTC Laws that one has to follow by when they are telemarketing. Northam's advertising coaches claims that you likely earn a substantial income with virtually no risk and a it is very unlikely that someone is going to earn this kind of income. This is a violation of Section 5(a) of the FTC Act, 15 U.S.C. 45(a).

Also, this is a these misrepresentations are a violation of The Amended Telemarketing Sales Rule. This prevents telemarketers misrepresenting any material aspect of the investment opportunity. Also, from making misleading statements to induce a person to buy goods and services 16 C.F.R. 310.3

The case is: Federal Trade Commission, Plaintiff, v. The Results Group, L.L.C.,

The direct link is: http://www.ftc.gov/os/caselist/0623205/061212cmp0623205.pdf

Every one who has been scammed needs to read this case and then contact the: Arizona State Attorney General, FTC, Internet Fraud Division of FBI, Better Business Bureau. Cite this case and say that there is a company doing the same thing.

Disclaimer: I am not an attorney and therefore you are taking my advice at your own risk.
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