SilverField Financial Group -Rochester, NY Company is offering Secured Loans with a collateral payment of 8 months Rochester New York

I was contacted by a loan broker from the SilverField Financial Group office the week of July 6th and was told I had been approved for a $15K personal loan however did to my credit being a "high" risk and I didn't own property that i had to place a deposit down for collateral in the amount of $1572.64 (which is stated on the contract) in order for the lender to accept the loan. And in turn the 7 months worth of payments would be deducted from my principal and my payments back to the company would not start until May of 2010. - I explained to the loan officer that I would not be able to put down such a hefty collateral payment right away and that i would need time to think about accepting the terms of the agreement. I then asked if he could fax me a copy of the loan agreement for my review. He agreed and then faxed me the copy to my work which is a company fax and the loan documents came straight to me on 7/9/2009. I then took a look at the contract and determined that I needed more proof that this was a legit company. I then called back to the loan officer and asked for a company website. He gave me a website www.silverfieldfinancial.com and I took a look at the site for customer comments, address, length the company has been in service etc. Being that I applied online I wanted to make sure this was defitely a company. After reviewing the companys website a came to the conclusion this was a real company, there were no postings online the week of July 6th stating fraud, or scams or anything. So I decided to call back to the loan officer and find out next steps. he then told me that he would hold open my loan for a week with his managers approval in order to help me out with my collateral payment. The manager approved the loan being opened, and the next steps was for me to call back on Friday July 17th and they would give me the information to wire the collateral money directly to the lender to "cut" the administrative fees and length of time it would take to process my loan. He told me I would need to western union directly to the lender in Scarborough, Ontario Canada and the loan officer processing my collateral payments was Leslie Sargent. (I have the western union documentation with this persons name on it) After talking to my loan officer and copying down all the pertinent information to send the wire transfer I rushed to leave work to head to a local store to make the $1500 dollar transfer. The reason why it was $1500 and not $1572.64 is because I complained to the loan officer that I could not afford the $140 dollar transfer fee on top of the collateral payment. He then said he would work with me and told me to only send $1500 and that the wire transfer fee of $98.99 would be reimbursed back to me when they direct deposited my $15K into my account. I agreed. So I wire transfered $1500 to Leslie and was told to call back with the MTCN transfer number when done. I did. Then the loan officer told me that I would have the full $15K plus the wire transfer fee deposited into my account on Monday 5pm PST and no later. I then gave him my checking account information (routing and bank number) over the phone and then told me in 7-10 business days I would receive a welcome package in the mail.

On Monday (today) I called my loan officer expressing my nervousness to him about giving him my account information and that my credit union hadn't seen a hold for a deposit on my account. usually they can tell if a deposit is pending or if a company has withdrawn anything etc. They hadn't seen any transactions or pending deposits. So that drew questions. My loan officer once again reassured me that the deposit would be in my account no later than 5pm PST and that I should send him flowers when the deal is completed and the funds are transferred. I thought nothing else of it, until a manager called and left me a VM at 1pm today saying there has been an issue with my loan and to call him as soon as possible. I called back to the 800 number and got a recording that customer service was busy and to leave a message or hit # to leave my dial back number. Which I thought was weird because usually that is a paging function on a cell phone or a pager itself. So that drew more anxiety. I left a VM message and 10 minutes later the manager called me back, his name was Thomas. he starts explaining to me that the lender I am borrowing money from has re-assessed my file and is requiring an additional $1570 down for another months payments. I explained to the manager that I was very upset that the original loan officer didn't go through the loan documents with me and point out the Re-assessment section of the documents to me. And that it is very unprofessional of the company to do that. I then in turn said i would need to think about sending them additional monies and it wouldn't be until wednesday or so this week. He said he would hold my file and if I was still uncertain I had 2 options. Cancel or do the additional monies.

After I got off the phone with him something told me to google/bing (search engine) the company name and see if anyone had posted any alerts or complaints online. Sure enough I see a bunch of scam alerts for this company name and it tipped me to call the company and cancel the agreement. So I called the manager back and told him I wanted to cancel the loan. he said okay you will be refunded your $1500 on 8/15. I then asked why 8/15? he told me that in my"contract", it explaines if I cancel the contract a refund will be issued to me on 8/15. I then pulled a copy of the loan agreement and there is nothing stated in the contract with regards to a 8/15 date. So I said to the manger thomas, there is no 8/15 date. He then went into how I am uneducated and did I go to college because the document clearly says 8/15. At that point, I commented on how rude he was and then asked if they have a website. he said they fixed the website 2 weeks ago. i said you mean you moved your website 2 weeks ago? He said no. I told him that there are several suspicious complaints on the internet and asked if he was sure he was a reputable company? he said yes and have been in business for 14 years. I then said to him that I wanted my refund today, and asked could he go to a local store and wire transfer my money back he then said no all he needed to do was follow the contract which stated a refund on august 15th. I told him I was going to contact my local police dept, file a complaint with the BBB and the attorney general as well as the FBI. He started getting angry and I hung up the phone. I have contacted my local credit union and they are helping place fraud warnings on my account, I have contacted Equifax to place a fraud alert on my account but I couldn't get through to a rep. I am going to contact the SS administration with regards to my ssn number. I suggest you don't take this lightly as these people have your personal information and could use it to their advantage. Consider the money gone, but protect yourself from further heartache and protect your name, accounts and ssn.

Seattle busting
Renton, Washington
U.S.A.