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Report: #202655

Complaint Review: Alpha Capital Group - Nationwide

  • Submitted:
  • Updated:
  • Reported By: NORTH LIBERTY Iowa
  • Author Confirmed What's this?
  • Why?
  • Alpha Capital Group Nationwide U.S.A.
  • Phone: 866-598-3078
  • Web:
  • Category: Loans

Alpha Capital Group Loan Scam Nationwide

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I received a voicemail from Jacob Monroe at Alpha Capital Group stating my loan had been approved. Knowing that I had not applied for a loan for quite a while, I called Jacob back to find out what this was concerning. Jacob informed me that I was approved for a $5000 loan with an interest rate of 9% for 2 years. All I would need to do is fax him my verification information (Driver's license, SSN, proof of address and income). OK--I'm thinking--this doesn't sound too bad and I could use the extra money since we just got back from vacation.

Then...

Jacob informs me that this loan also comes with payment insurance (he explains it like life/disability insurance in case you can't work or pass away). That said, Jacob then informs me that once I fax the verification information, my loan check will be sent via Fed Ex, after they receive my insurance payment. Wait--hold on--what do you mean insurance payment?? Well, this is 3 monthly payments paid up front then you don't pay anything until the 4th month or you can start paying from day 1 and pay off the loan 3 months early.

The funny thing is that I received another offer almost identical to this awhile back and found that company name on here stating that this is a scam and once they get your initial payment, they either ask for more money or decline the loan. (I can't remember the name of that other company).

I simply told Jacob, that I wasn't interested in this scam and hung up.

Julie
NORTH LIBERTY, Iowa
U.S.A.

This report was posted on Ripoff Report on 07/24/2006 01:25 PM and is a permanent record located here: https://www.ripoffreport.com/reports/alpha-capital-group/nationwide/alpha-capital-group-loan-scam-nationwide-202655. 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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