• Report: #891326

Complaint Review: Statefund Solutions

  • Submitted: Thu, May 31, 2012
  • Updated: Fri, June 01, 2012

  • Reported By: J. — Auburn Indiana United States of America
Statefund Solutions
1464 Blue Hill Avenue Boston, Massachusetts United States of America

Statefund Solutions The Lending Center StateFund Solutions "Our solution is to take your money and leave you further in debt!!" Boston, Massachusetts

*Consumer Comment: It's not a real company.

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I, as most Americans seem to be, am in need of money. Although I have a good job hist ory to stand by, my credit is not the greatest. I had to file bankruptcy over a large amount of medical bills, so getting funds has been difficult to say the least.

That's why when I stumbled on The Lending Center online I was excited. A place where work history and income weighs as much as credit score! I immediately filled out a loan app and awaited their call. The whole time assuming I would be turned down. Which made the call from Statefund Solutions (the lender they found to approve me) a miracle and a half when they said they could get me the loan i requested of $1I vould 5,000.00. I felt I could finally relax and breath a little. Thats the beginning of the nightmare.

After talking to Ryan, who gave me 5 years at 7% intrest, I was told I would need to make a collateral payment of $1,485.00 to secure the loan. Not having actual collateral and less than ideal credit, I thought it was a fair request. After all it'd come off my payments. I was then informed I would need to Western Union the funds to "make the loan transaction quick. No need to wait for bank processing". And so, after seeing the contract I made the transfer. Only to find out the lender wanted more collateral and other fees/taxes to be paid for. Although those weren't disclosed until the next few days.

To wrap it up, after a letter of gaurantee saying the funds would be released, $3,700.00 plus transfer fees, and multiple conversations with who can be described as the biggest B*TCH and A**HOLE (2 seperate people. they know who they are.) I've ever had the non-pleasure of speaking too, there is no loan. No money as promised. No funds sent. No refund of what I did give them because, according to the A**HOLE, I was harrassing them with phone calls (Yes, that is a direct quote from him.. LOL). Just me left with out any cushion for me and my family and a zero balance in the bank account. Wait, I did get " I don't give an F about you or your money" and "if you want your refund, we'll see you in court". Like I said, he was an a**holr. I think his mother didn't love him enough.

As pissed as I am about it, I have to laugh, because.. well.. it's all I can do to keep me from driving to Bosto. and having a little man to a**hole talk. Watch out for these guys and others like them.

This report was posted on Ripoff Report on 05/31/2012 07:04 PM and is a permanent record located here: http://www.ripoffreport.com/r/Statefund-Solutions/Boston-Massachusetts-02126/Statefund-Solutions-The-Lending-Center-StateFund-Solutions-Our-solution-is-to-take-your-m-891326. 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 Comment

It's not a real company.

AUTHOR: Flynrider - (USA)

   What you describe is the Advance Fee Loan Scam.  This isn't a real lender and it's not likely you'll find them at that address in Boston.   It's a group of scammers that convince their victims to send them untraceable cash transfers through Western Union.   I'll bet they had you send them the MTCN.  This allows them to pick up the money virtually anywhere in the world.   I'd be surprised if they are even in the U.S.

"  I was told I would need to make a collateral payment of $1,485.00 to secure the loan. Not having actual collateral and less than ideal credit, I thought it was a fair request.  "

   Big mistake.  This is a tipoff that it's a scam.   It would be illegal for a lender to charge you a cash collateral payment for an unsecured loan.   Only scammers do this.

"  I was then informed I would need to Western Union the funds to "make the loan transaction quick. No need to wait for bank processing".  "

  The real reason is that bank transfers would require an actual bank account, which requires identification.   Western Union transfers can be collected anonymously.  Real businesses do not require untraceable cash payments.  Scammers always do.   Whenever anyone you don't personally know asks you to send money this way, you are being scammed.

  Bottom line is that you sent untraceable cash to unknown persons somewhere on earth.  The phones are throwaway cell phones.  The names are fake.  If you trace the emails back, they'll probably originate at some public access point like a coffee shop in Nigeria.  Pretty soon, the website will disappear.   By the way, that's the last tipoff.   Would you be surprised to find that the website at STATEFUNDSOLUTIONS.NET was created two weeks ago?  A simple Internet WHOIS search can tell you a lot about a website.

  Sorry you lost your cash.   Hopefully, you can use the info in this post to avoid this kind of thing in the future.

  The FTC has a web page devoted to this scam here :

http://www.ftc.gov/bcp/edu/pubs/consumer/telemarketing/tel16.shtm
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