• Report: #958791

Complaint Review: Pinnacle Financial, Inc

Thank You

Read how Ripoff Report saves consumers millions.

  • Submitted: Tue, October 23, 2012
  • Updated: Fri, November 09, 2012

  • Reported By: Kristen — Arlington Texas United States of America
Pinnacle Financial, Inc
4701 Atlantic Avenue #1111 Raleigh, North Carolina United States of America
  • Phone: 800-597-0417x6023
  • Web:
  • Category: Loans

Pinnacle Financial, Inc ***Beware Of Loan Scam*** Raleigh , North Carolina

*Author of original report: Update

What's this?
What's this?
What's this?
Is this
Ripoff Report
About you?
Ripoff Report
A business' first
line of defense
on the Internet.
If your business is
willing to make a
commitment to
customer satisfaction
Click here now..

Does your business have a bad reputation?
Fix it the right way.
Corporate Advocacy Program™

SEO Reputation Management at its best!

I was contacted by Traci Cain from Pinnacle Finance, Inc.  via email on October 10th and was told that I was approved for a $10,000 loan at 7% for 60 months, with a payment of $200.38/month.  They sent me a contract to sign that had these details as well as information about loan insurance ($750  for standard coverage or $1500 for premium coverage).  If I was interested in the loan, I was to fax pages 2 and 5 signed back to her along with a pay stub, drivers license and government ID (e.g. SSN). 

She also mentioned that the insurance premium must be paid up front in order to process and release the loan.  I questioned her about that and she said they asked for it up front due to my credit (I had a poor credit score).  She said the money is to be placed on a GreenDot MoneyPak card and I was to give her the number.  Once she has the "insurance" payment, the loan would be processed and released to the bank and I should have it within 2 - 4 hours.  I complied with all of this and then waited. I told her I was trying to be cautious in asking a lot of questions and this is what she replied:

"I completely understand where you are coming from, especially with the horror stories that I have heard from clients. I have sent the information to accounting for processing. I will send you a confirmation email before the end of the business day verifying that the payment has been received and we have deposited the $10,000.00"

When I didn't hear from her at the end of the day, I tried repeatedly contacted her and she would not pick up the phone. That was on Friday Oct. 12, on Monday Oct. 15; I did manage to reach her on the phone after hours of trying.  She stated:

"I have been in a meeting for several hours about your loan.  The lending company states that you are a high risk and we need $750 more to insure you for the loan."

When I refused and asked for my money back, she was very reluctant stating that it would just be easier for me to pay.  I again refused and requested my money immediately.  She stated it would take 5 business days to process and be returned. After that phone call, she would not answer the phone. 

After waiting 5 business days, I call again on the 6th. She tried to screen the call so she would not have to speak to me.  I asked where my money was. She then stated:

"As I told you it takes 5 business days and it was only turned over to our refund department Saturday. It will take 5 to 15 business days to be returned to you.  You didn't listen."

I told her I had been listening and taking notes, she never mentioned any of that before.  She then hung up on me and will not receive my calls. I doubt I will ever see my money.

This report was posted on Ripoff Report on 10/23/2012 10:49 AM and is a permanent record located here: http://www.ripoffreport.com/r/Pinnacle-Financial-Inc/Raleigh-North-Carolina-27604/Pinnacle-Financial-Inc-Beware-Of-Loan-Scam-Raleigh-North-Carolina-958791. 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.

Click Here to read other Ripoff Reports on Pinnacle Financial, Inc

Search for additional reports

If you would like to see more Rip-off Reports on this company/individual, search here:

Search Tips
Report & Rebuttal
Respond to this report!
What's this?
Also a victim?
What's this?
Repair Your Reputation!
What's this?
REBUTTALS & REPLIES:
1Author 0Consumer 0Employee/Owner
Updates & Rebuttals

#1 Author of original report

Update

AUTHOR: Kristen - (United States of America)

I filed a complaint with the Better Business Bureau, only to find out all the information on the "loan documents, " website, and general information is stolen and is not them. This is the response from BBB:
Pinnacle Finance only handles Automobile Loans. I have however received a letter from the NC
Office of the Commissioner of Banks stating that an internet loan
company is posing as Pinnacle Finance and using our old address of 4701
Atlantic Ave as there address. I have spoken to Karen Mizell of
Consumer Affairs and told her that we are no longer located there and
have no idea of what business is posing as Pinnacle. Mrs. Mizell number
is xxxx and her email address is xxxx. She may
be able to further assist you in the problems that you are having. I am
sorry for any problems that have occured under the Pinnacle name but I
can assure you that Pinnacle Finance, Inc. has nothing to do with it.
If I can be of any further help please dont hesitate to contact me.

 I would really like to seek legal action again them, but I am not sure how to go forward.  These people need to be stopped!
Respond to this report!
What's this?
Report & Rebuttal
Respond to this report!
What's this?
Also a victim?
What's this?
Repair Your Reputation!
What's this?

Advertisers above have met our
strict standards for business conduct.



Ripoff Report Legal Directory