Bay Point Lending Group request collateral payment prior to giving you debt consolidation loan , Chicago, Illinois

one day my husband received a phone call from a Mr.Ron Davidson. he represented himself as a representative for a debt consolidation company.  he spoke with my husband and said that he was preapproved for a consolidation loan of 8000.

he told him that because of his problem credit and lack of collateral that he would need to send a prepayment(collaterall payment) of 1200. well he told him that we didn't have that much on hand.

he asked how much could we afford to send and we told him no more than 700. he said that he would have to talk to his lenders to see if they could qualify us for 6000, if we sent 700.

when he called back he said that he could only find one lender willing to loan us the 6000 while only paying a 700 collateral payment. i spoke with Ron Davidson and he said that the money needed to be sent to Laura Stanford, the loan representative for the finance company. I sent the money the same day and he said that i would have the funds via direct deposit within 24hrs.

well 24hrs came and went and no money was deposited. when i called i was told that i needed to speak with Paul Hamilton who was in charge of customer service. Mr. Hamilton said that the loan had been reevaluated and that they would need an additional 700 in order to disperse the loan.

now i started to smell a scam. i requested a refund, and was told that i would receive it on Aug.17th. well i told them that i was reporting them to the attorney general's office because i know that they are running a scam.

oh by the way the 700 was never returned. PLEASE FIND THESE GUYS>