Let me start this report with a little background on my situation. I am by know means someone that is hard up for money or anything like that. I was someone that like many people screwed up their credit royally when they were younger in college. After years of working and floundering with credit issues, I had decided to do something about it. So after reading a few books on the subject and hiring a good credit attorney to help with this matter, I had everything straightened away. One thing that can really help is securing a loan and making on time payments for a period of 12-24 months. So I find this site and read all of the facts. I will quote a few hear.
"Do I need collateral or a cosigner to get a loan?
Absolutely not! Our loan sources do NOT require any collateral or a cosigner. These loans are
made based on your signature and promise to repay on the loan agreement." NOT TRUE
"I'm still skeptical! How do I know you won't rip me off?
That's a good question! We've been in business now for almost 8 years on the internet, nearly 10 years total. We have THOUSANDS of satisfied customers who got their loans quickly with our help! We wouldn't still be in business if we were not providing what we promise. Think about
that! All that we ask is that you give us the chance to help you! You owe us NOTHING if we are unable to find you at least ONE lender. You can apply RISK-FREE and with CONFIDENCE!" NOT TRUE!
These are just two examples of "facts from their website. So figured that what do I have to lose. It is only $99 and they will do a "custom" search for me and pair me up with lenders that meet my requirements. After completing the application and paying them of course I get this email and I immediately knew something was up. The email states that the search will take 4 days, that is fine. Then it says do not attempt to contact them until the search is done. That is fine too. But there is no phone number whatsoever. Just a blank nontraceable email address from yahoo. That is usually a key that something is not right in my eyes. But I figure I will wait the 4 days and then see what they come back with.
4 days go by and I get their "loan search results". Why this took four days, I have no idea. I could have come up with these on google in 3 seconds. These are in NO WAY bad credit lenders. Here are a sample of what they gave me. AIG, MBNA, CITI. These are major financial institutions that require strong credit to be approved.
The instructions that came with the email were even better. In a nutshell here is what they said. Start at the top of the list and apply for a loan. If you get denied go the the next loan. But keep in mind that you will probably "need a FICO score of greater than 600 or a CO-SIGNER to be approved for any of these loans." This completely goes against what they say in their own FACT section of their OWN website! Not to mention that anybody that is trying to repair credit knows that if you start applying for a bunch of loans that leads to a bunch of inquiries on your credit report which can lead to a lower FICO score overall.
So I email them and politely ask for a refund. I state that I felt like I was mislead and that I would like the money back they promise. I get a response saying that unless I get rejected by all 6 lenders and provide proof that I did, they will not refund. I explain that all that will do is ruin my credit more and I am trying to rebuild it. I said you are talking about the facts on your website saying I will not need a cosigner and then saying I will. I told them that if they want to scam others, that is fine, but I will go straight to my attorney if I have to on principle.
The next day I get a response saying "Give us your attorney's name and number and we will contact him directly". So I immediately emailed them that info. I told them that my attorney is awaiting their call and has all of the necessary information since he is a credit attorney. Apparently these people thought I was bluffing with the attorney information and were trying to call my bluff, because it has now been 3 days and still no call to the attorney. I decide to do a search on them on the web. I find that others have had problems in the past and the result was the company saying they were going to go to the complainants boss and report them for using company time wrongfully. That is not much of an argument against fraud is it? I am the boss at my company! So what will the excuse be this time.
I am prepared to go after this company. The money is not a factor at this point. It is the principle. I think this scam although creative is a complete joke. Basically a person provides links to the biggest lenders in the world and in turn gets paid $99 for it. Google, yahoo, etc. all do this for free. This company should not get away with this anymore. Most people see an "AS SEEN ON TV" logo and figure it has to be legit. I have never seen this on TV, and I have done research over the last two days and still cannot figure out where they have ever been on TV. I am hoping maybe it will be CourTV soon enough. Usually they are arguing with someone with NO MEANS financially, so that person cannot win. This time, it is different. We shall see what happens in the end, but I will follow through on this, and hopefully keep this site updated.