Report: #1156396

Complaint Review: swift source capital

  • Submitted: Fri, June 20, 2014
  • Updated: Mon, July 07, 2014
  • Reported By: Eric — houston Texas
  • swift source capital
    181 NE 32nd St
    ft. lauderdale, Florida

swift source capital tells you that thay can give no interest loan for two year but dont tell you they want 10% of loan which is really credit card. ft. lauderdale Florida

*REBUTTAL Owner of company: Services were rendered and not paid for

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swift source capital called me tell me they can offer me a no interest loan for 2 years.  but they did not tell me that they want 10% of the loan. they also did not tell me there going to file for credit card in my name. i was expecting a loan. i got credit card sent to me and now they expect me to pay them 10% of the crdeit card.

these people will take advantage of you if you do not read the fine print. they are rippoff artist. and after they ripp you off they will tell you we told you that. if they told me that i would have never sign the paper. i sent the paper to my lawyer and he told me this was a very bad deal that they have power of attorny and have control of my bank account. all the credit card they filed for i could have done it myself.

do not do business with these people unless you want to pay 10% of a credit card then have to pay 20% to 30% of interest. this is a very bad deal and a rippoff. these people might not be around tomorrow. wouldn't be surprise if the government shut them down tomorrow.

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This report was posted on Ripoff Report on 06/20/2014 07:47 PM and is a permanent record located here: 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. Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report. READ: Foreign websites steal our content

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#1 REBUTTAL Owner of company

Services were rendered and not paid for


Swift Source Capital offers nothing but honesty and integrity along with the products and services we match our clients up with. Mr. Plummer here was extremely aware of our terms very heavily outlined in our contract with him. We charge a 9.99% back end fee (meaning, we do NOT charge ANYTHING until our clients receive funding) in the particular product that was applied for by him. There were a number of discussions about exactly how our process worked and what it entailed. Mr. Plummer was 100% informed. 

After he received his funding, he decided he did not want to pay. He contacted an attorney to try to get out of our contract, then naively admitted to us that he was advised the contract was iron clad and clearly stated he was obligated to pay for services rendered. I suspect he reached out to a different attorney thereafter who wrote a letter on his behalf trying to get him out of contract. We are curecently seeking arbitration and are extremely confident we will win our case. Our contracts are extremely legal as they were drawn up by our legal counsel. 

This man received approx. $74,000 in revolving lines that could be left as such or liquidated into cash And he has not paid a dime to us!  THAT is the rip off.  If this gentleman is trying to procure funding to start up a business, he should be intelligent enough to know how to read a business contract and abide by his word. Writing false BBB comaints and Rip Off Reports seem like desperate attempts. We will recoup our money. 

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