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  • Report: #161387

Complaint Review: USA FUNDING INSTITUTION

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  • Submitted: Wed, October 19, 2005
  • Updated: Mon, October 31, 2005

  • Reported By:Westville Illinois
USA FUNDING INSTITUTION
450 7th Ave New York, New York U.S.A.
  • Phone: 866-249-7776
  • Web:
  • Category: Loans

USA FUNDING INSTITUTION RIPOFF I THOUGHT THEY WERE FOR REAL!!!! New York New York

*Consumer Comment: Comment also for Paul

*Consumer Comment: Is this what you do in your spare time Paul?

*Consumer Comment: Is this what you do in your spare time Paul?

*Consumer Comment: were not all rich and have problems

*Consumer Suggestion: Let me show you why this con works so well. The victims are all planning to rip off the lenders.

*Author of original report: Who else has gotten scamed by USA FUNDING INSTITUTION?

*Consumer Comment: Well said Lori.......

*Consumer Comment: Well said Lori.......

*Consumer Comment: Well said Lori.......

*Consumer Comment: Well said Lori.......

*Author of original report: WHO CAN SAVE PEOPLE FROM USA FUNDING INSTITUTION ?

*Consumer Comment: Once again fighting with air.. Thank God this last person thought of www.ripoffreport.com, it saved them their money.

*Consumer Comment: I am so glad you found this website

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A co-worker told me about a company that he had found on the internet. The company is "USA Funding Institution". He said that he filled an application out and was told the following day that he was approved for a $20,000 loan. The only thing that he did was send $750 to cover the insurance. I was hesitant about this, but a co-worker and I went online and filled out applications. She asked for $5,000 and told the company that she could pay $150 per month. I asked for $25,000 and said that I could pay $500 per month.

The next day my co-workers told me that USA funding wants more money from them. I asked them why, and they said, " We are high risk and we need more insurance coverage". To this day, they are still waiting for their money. They have made themselves sick about this mess.

Back to my loan, "Renee" called and said my husband and I were approved for a $25,000 loan. We only had to send $2,000 through "Western Union". Then we would have our money in 24 hours. I called and spoke to "Leina Stephson", "Amanda", and/or "Renee," each sounded the same, about being hesitant of this loan. It didn't sound correct. They each reasured me that they were a legitimate company. Today "Leina " told me that I had until 10:00 A.M. tomorrow to make up my mind or the deal was off. I told her that my husband would bring the money in the morning.

I thought that I had looked up "USA Funding Institution" really well, as in the "Better Business Bureau". I looked up "GATEWAY INSURANCE" and each company showed themselves to be legitimate business.

I am glad that I kept looking into this company. I don't know how I found finding this websight, but I am glad I did before my husband and I made a big mistake. I am dissapointed in this company, because they bring people hopes up then bring them back down hurriedly. I wish that there was somebody who could correct the deceptive business practices of "USA Funding Institution" and "Gateway Insurance".

Lori
Westville, Illinois
U.S.A.

This report was posted on Ripoff Report on 10/19/2005 07:57 PM and is a permanent record located here: http://www.ripoffreport.com/r/USA-FUNDING-INSTITUTION/New-York-New-York-10123/USA-FUNDING-INSTITUTION-RIPOFF-I-THOUGHT-THEY-WERE-FOR-REAL-New-York-New-York-161387. 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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#1 Consumer Comment

Comment also for Paul

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

You really should not judge people just because they put trust in others.

My husband and I do not have bad credit. No, we were not looking to 'screw' anyone.

We just purchased our second home and after being here six months, found undisclosed damage to our finished basement. This will cost a substantial amount to fix and refinish. Being here six months we don't have the equity we need to repair.

Yes we can go back on previous owners, and we will. But we were told it could be in the courts for a coule of years. We don't have that long. Our son is out of a bedroom, we are out of a family room, our daughters are out of a play room. We needed the money asap.

Not eveyone is out to 'screw' someone else.
Yes, obviously there are those who do.
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#2 Consumer Comment

Is this what you do in your spare time Paul?

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

You know I laugh and laugh at some of the comments that you post on this webstie Paul. Is this your free time fun? Get a life. This is a serious matter from serious people. This isn't our fun to come on ripoffreport.com and start putting people down for what they are trying to do. This "company" had discussed payment plans, as with any other loan you get - when you consolidate from $500 a month to let's say $200 a month we don't plan to ripoff the lenders. We are trying to get everyone paid, and then be able to afford to pay back the lenders. So that isn't our intention to screw more people. May happen in your life - since you just seem like the type to screw everyone anyway with your little comments. Go find another website to play on. My bills have come from medical bills - which I don't need to discuss with YOU. School bills and others. I live on my own and try to take care of myself. Do you realize how hard that is? Probably not. Your probably sitting on mommy and daddy's computer with no bills at all. Or got a wife and kids that help your life. Well PAUL some of us don't have the little things in life like family or money to get us through. Sometimes it is just us. One person trying to make it in this MESSED UP world. It's people like you that are probably behind these scammer companies and making money off of us poorer people trying to make ends meet. I feel sorry for all of these people trying to better themselves and then this scum company makes it worse. These kind of things could make a person want to commit suicide or act on some rage they might be feeling.
God Bless this world of ours.
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#3 Consumer Comment

Is this what you do in your spare time Paul?

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

You know I laugh and laugh at some of the comments that you post on this webstie Paul. Is this your free time fun? Get a life. This is a serious matter from serious people. This isn't our fun to come on ripoffreport.com and start putting people down for what they are trying to do. This "company" had discussed payment plans, as with any other loan you get - when you consolidate from $500 a month to let's say $200 a month we don't plan to ripoff the lenders. We are trying to get everyone paid, and then be able to afford to pay back the lenders. So that isn't our intention to screw more people. May happen in your life - since you just seem like the type to screw everyone anyway with your little comments. Go find another website to play on. My bills have come from medical bills - which I don't need to discuss with YOU. School bills and others. I live on my own and try to take care of myself. Do you realize how hard that is? Probably not. Your probably sitting on mommy and daddy's computer with no bills at all. Or got a wife and kids that help your life. Well PAUL some of us don't have the little things in life like family or money to get us through. Sometimes it is just us. One person trying to make it in this MESSED UP world. It's people like you that are probably behind these scammer companies and making money off of us poorer people trying to make ends meet. I feel sorry for all of these people trying to better themselves and then this scum company makes it worse. These kind of things could make a person want to commit suicide or act on some rage they might be feeling.
God Bless this world of ours.
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#4 Consumer Comment

were not all rich and have problems

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

this is in response to paul and how you can read peoples mind " going to ripp off the lender" you people who fall into this situations are in a bad position and just from reading the posting one cannot assume you know whats going on with them in their lives or what types of problems are going on. it seems to me that you have no problems in your lives but I think the people who have been scammed have suffered enough to then be abisued by someone like you. if you want to help give your opinion in a positive constructive way. unless you are well off people tend to live paycheck to paycheck and with the economy someone in this world is bound to be late on something.
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#5 Consumer Suggestion

Let me show you why this con works so well. The victims are all planning to rip off the lenders.

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

Here's why this kind of scam works so well.

The victims here actually are planning to rip off the lenders.

The people who ask for these loans all have bad credit. That's why they are on the internet searching for a miracle to begin with. Lord knows, they probably have never paid back anything as agreed. They are always late or delinquent with something.

That's exactly why their credit is screwed up to begin with.

These people should forget about any new loans. They can't even handle the loans they already have. So, why in the world are they looking for new loans?

Clearly, the victims intend to cheat the lenders. They figure that all they have to do is pay $750 for insurance and some bank is going to send them $10,000. The victims know that they will never be able to repay the loan. But, they aren't the least bit worried about that.

They are so busy dreaming about how they plan to cheat the lenders that they don't realize that the lenders are frauds to begin with.

Both parties here are looking for something for nothing.

There will always be somebody who is willing to pay $750 in order to receive $10,000. That's why you can't stop this.
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#6 Author of original report

Who else has gotten scamed by USA FUNDING INSTITUTION?

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

Is there anyone else out there in this big bad world that has been scamed by USA FUNDING INSTITUTION? If there is PLEASE, PLEASE, let me know. You don't have to tell me who you are. I just want to know how many other people feel as stupid as my two friends, and I do. I dont know Barbra but I bet she isnt feeling so hot about getting sucked in by the low life people at USA FUNDING INSTITUTION. I know there has got to be other people that believed they would get money to help pay bills or go on a vacation they never had. Then lost their money because of this idiotic so called "company". This mess just burns me up.
I wish someone could do something!!!!!
IS THERE ANYONE ELSE USA FUNDING INSTITUTION HAS SCREWED?
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#7 Consumer Comment

Well said Lori.......

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

Well, yes I got all of the papers faxed to me as well. They are pretty good scammers aren't they? I understand about them feeling like they want to die, believe me the first week I felt the same. Now I am just fighting and fighting for everyone and anyone else not to get scammed. It makes me more sick that even the BBB didn't list the complaints. I am sure these other people that got scammed reported it as well. Makes me not trust the BBB either. It really just makes me sick to my stomach. As far as I know no one had gotten their money back. Doubt they ever will.
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#8 Consumer Comment

Well said Lori.......

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

Well, yes I got all of the papers faxed to me as well. They are pretty good scammers aren't they? I understand about them feeling like they want to die, believe me the first week I felt the same. Now I am just fighting and fighting for everyone and anyone else not to get scammed. It makes me more sick that even the BBB didn't list the complaints. I am sure these other people that got scammed reported it as well. Makes me not trust the BBB either. It really just makes me sick to my stomach. As far as I know no one had gotten their money back. Doubt they ever will.
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#9 Consumer Comment

Well said Lori.......

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

Well, yes I got all of the papers faxed to me as well. They are pretty good scammers aren't they? I understand about them feeling like they want to die, believe me the first week I felt the same. Now I am just fighting and fighting for everyone and anyone else not to get scammed. It makes me more sick that even the BBB didn't list the complaints. I am sure these other people that got scammed reported it as well. Makes me not trust the BBB either. It really just makes me sick to my stomach. As far as I know no one had gotten their money back. Doubt they ever will.
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#10 Consumer Comment

Well said Lori.......

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

Well, yes I got all of the papers faxed to me as well. They are pretty good scammers aren't they? I understand about them feeling like they want to die, believe me the first week I felt the same. Now I am just fighting and fighting for everyone and anyone else not to get scammed. It makes me more sick that even the BBB didn't list the complaints. I am sure these other people that got scammed reported it as well. Makes me not trust the BBB either. It really just makes me sick to my stomach. As far as I know no one had gotten their money back. Doubt they ever will.
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#11 Author of original report

WHO CAN SAVE PEOPLE FROM USA FUNDING INSTITUTION ?

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

I showed the reports about USA funding being a rip-off to my co-workers today. Needless to say they are very, very upset. One girl about had a nervous break down when she read the reports. She said, she wanted to die. How can these people get by with all the crap? The bullshit that company dishes out is just not right. My other friend called Leina or who-ever at USA funding Institution and told her, thank you, she asked what for he said for f---ing me. I sure hope and pray someone will or can do something about companies like this.
I figured out why no one would touch this so called company. Their "company" is actually based in Canada. I was told they can't be touched because they are in a different country. I was also told that in canada $640 is worth about twice that amount.
Is their anyone unlucky enough to get documents that say "Promissary Note" at the top of the page faxed to them? I did. It has the borrower's promise to pay, interest rate, payment amount, and other things that make it look legitimate. I signed my name and my husbands then faxed the document back to USA funding Institution. Did anyone notice the name in little bitty letters in the top left corner of that document? I didn't until after I faxed the document back. It says "The Paragon Group", nothing about USA funding "rip off" company. I looked them up on the computer, they are located somewhere in B F E vill. They don't seem to exist, I checked this web-sight also BBB. I am not suprised, with their name being on the same page as USA rip-off funding. My fear now is, they will sell my SS # and my husbands to someone in Canada. I hope everyone who reads this will contact the three credit bureaus and tell them to red flag their SS #. This means if anyone was to use your SS # the credit bureau would have to contact you first. I would like to know exactly how many people have been drawn in by this "company". When was this company formed? Has anyone ever gotten any money from them or gotten their money back that they sent? I am not interested in getting money from those jerks, just courious as to how far this scam has gone.
I really hope and pray that other people will think three times before falling into traps like we have.
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#12 Consumer Comment

Once again fighting with air.. Thank God this last person thought of www.ripoffreport.com, it saved them their money.

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

I sent more emails off this morning....I don't know if I think I am going to get something in return or it just makes me feel better venting.

Here is the latest.........

To someone of authority that might make a difference,

I have emailed most of you already. This is concerning a company called USA FUNDING INSTITUTION. My original email is stated in the last part of this email.

I have gotten a couple of emails back from some of you, pretty much telling me nothing. Today I went out to the BBB of New York to inquire about USA FUNDING INSTITUTION, and disappointed - there were no complaints listed.

Daily, I go to www.ripoffreport.com and see if anyone else has been scammed by this company. Today, there was another entry. Thank God this last person thought of www.ripoffreport.com, it saved them their money.

I have emailed and called everyone I can think of to get this website off of the net. In hopes that they would not get someone else.

I thought maybe the BBB would AT LEAST note the complaints but from the finding today, no luck. I am SHOCKED that the BBB didn't even list 1 complaint from me.

As much as I have been calling and emailing to everyone in the last week, it is OUTRAGEOUS that no one has done anything. It makes me literally sick to my stomach that these conartists are getting other people!

My original email is stated below.

THANK YOU,

BARBRA J N

To Whom it may Concern,

I recently had applied for a personal loan with the company USA Funding Institution. I had checked out there website, and called the BBB to gather information. They had looked like a good company. Come to find out it was a scam. Me being a young kid, trying to get back on track and get my finances in order I thought this company could help me out. They had said I would need to get a an insurance policy to cover the loan, in case of default or loss of job or anything. I am a higher risk individual and with all the bankruptcy cases this seemed reasonable. So Thursday October 7th I had talked with "LISA" at this company. She had assured me the loan would be for $10,000 and I would need to Western Union $315 dollars to them and that would insure the loan. SO I had sent the money via Western Union, which I was a little weary of anyway, but she said I would have to do it this way instead of a check due to scamming from other people. HA- ironic. Anyway, on Friday morning "LISA" had called and said because of my credit they couldn't do the lowest insurance they would have to do the middle insurance(she had initially given me three different insurance quotes). So I gathered up another $315 and sent them again via Western Union, the $315. I was in distraught because my checks a week are only $370 and it had cost me $357 to send the first one. I had talked with the supervisor "TONY CLARK" and he had assured me everything was good, gave me a big line of them not being scammers and blah, blah, blah. "TONY" had assured me the money would be in my bank account at 12:01 am Saturday October 8th. Of course, Saturday morning, no money. Saturday I had called, talked with "LISA" and "TONY" and they were down right nasty with me. "Tony" hung up on me and "LISA" was just plain out RUDE. "TONY" once again, had assured me Monday it would be in my account. Monday, had came, no money. Of course, they were closed on Monday, so Tuesday I had called again. I asked "LISA" what bank account number she had for me, she just rattled off numbers. NOT EVEN CLOSE TO MY BANK ACCOUNT NUMBER. So that is when I started calling the ATTORNEY GENERAL OF NEW YORK, the ATTORNEY GENERAL OF ILLINOIS, Lawyers, police, and of course my bank. I am in the process of filling out all of the complaint forms for the Attorney Generals to get this company and there little scams. As I said, I am a younger kid, and hoped this would help with bills and educational expenses. I had called the company again last night, and am trying to get my $700 back for the Western Union transfers. I am pretty sure this is going to be a lost cause. I just don't want anyone else to get scammed by this company. It's sad that there are people out there in this world that make their money ripping off people that are trying to help themselves. I have included their email address that was off of there website.

The website is now not showing up when I do a search today, but you can still get it by typing in http://www.usafundinginstitution.com/

The numbers they had given me to contact them are 1888-297-2961 and 1-888-223-6194. They have a general 'act' to say I will give this to the correct person and call you back. But of course, no return phone calls. I did email them as well yesterday, with no return email given. I have carboned them on this email as well.

I had talked to a lawyer as well yesterday and he had called them too. He assured me this was a scam, and to contact the correct authorities.

Please help other people not get scammed by this company.

Thank you,
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#13 Consumer Comment

I am so glad you found this website

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

I am so glad you got your money saved. I lost around $800 and my whole life has gone to crap. I live paycheck to paycheck, am single, and trying to work full time and go to school. I was stupid and wrote checks out because I thought I was going to get this loan. I have no one to help me now and am really not sure what I am going to do. I am trying to find just enough gas to make it back and forth to work to keep up on stuff. My phone has now been shut off, my tv shut off, electricity and water are next. These people have absolutely ruined my life. I am so glad you got your money saved. At least the man upstairs was watching out for someone.
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