ED Magedson – Founder
South Star Lending Group2 Great Falls Plaza Auburn, ME Internet USA
South Star Lending Group Liars, Scammers and Frauds Internet
I had applied online for a loan of $5000 - because I was just recently discharged from bankruptcy 10 months ago I'm trying to rebuild my credit and was having a hard time securing a personal loan so that I could help pay for my father's funeral.
I got a call from a Daniel Bennett from South Star Financial advising me that I was approved for a loan however due to my recent bankruptcy discharge I would approved for a "secured loan" by means of 1) securing the loan with an asset 2) getting a co-signor doesn't matter if they have bad or good credit as long as they had assests to secure my loan 3) doing an insurance policy or 4) paying for the loan 6 months up front. I told them that I had a car in my 2009 paid for - he said not because I was approved for double what I was asking for and my asset had to be more than the loan. I said that I wasn't looking for so much - he said not to worry the payments were interest free for the first 12 months and the total payment was $198.10/mth. He said my best option was to take the insurance at $690 + Western Union fees (that would be reimbursed) - so I sent a Western Union to some agent in Ajax, ON. Money was still not deposited in my account - I called back and this Daniel Bennett said I had to speak to a supervisor because there was an issue with my file - so I spoke with Allan Price.
Allan Price told me that my file was flagged as "high risk" and therefore I had to send in another $890 via Western Union again because the insurance company backed out of the agreement and wanted more money to secure the funds. I told them that my father just passed and the reason for the loan was to help with the funeral arrangements - they empathized and said if I sent in the money I wouldn't have to worry, I could pay back the money and pay for the funeral up front. So I sent another $890 + Western Union fees (again to be reimbursed) to another "broker" in Ajax,ON. Allan Price said within 24 hours my money would be deposited.
72 hours later - no money. I call back Allan Price tells me I now have to speak to the President James Kennedy as again there was an issue. So I speak to this CEO/President James Kennedy and tells me I need to fork over another $890 via Western Union because now the insurance brokers are loaning $20000 - I told him I didn't need that money and this was getting too complicated and just to refund my money back. He said "If that's what you want - let me get that started and it should take 2 weeks, but if you can come up with the funds give me a call. I called him 3 days later and told him that I wanted my refund at which point he tells me that he'll give me another 2 weeks to come up with the funds - and I tell him no - I want my money back. He says it will take 60 business days for the refund because he doesn't have access to their account since it was controlled by the insurance company. I ask for the name of this insurance comapny he can't give it to me as the loan wasn't secured for privacy purposes. He then tells me that if I want to expedite my refund I can pay
$325 to get my money back in 30 business days. I told him that was impractical, not a proper business practice and I want names of this insurance company and he kept refusing. Their number and their website are now down and the only evidence I have are the Western Union orders that I sent.
I'm now out close to $1800 and no loan and in debt for my father's funeral. I can't believe how heartless these people are. My only hope now of getting my money back is to file criminal charges against the people that I sent the money to via Western Union and filing an official BBB. Beware of this criminals!!!
This report was posted on Ripoff Report on 06/10/2013 08:35 PM and is a permanent record located here: http://www.ripoffreport.com/reports/south-star-lending-group/internet/south-star-lending-group-liars-scammers-and-frauds-internet-1058085. 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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