Report: #251163

Complaint Review: Centerline Financial Services/Group/Peter Dubow/Karen Schwab - St. Louis Missouri

  • Submitted:
  • Updated:
  • Reported By: Belcamp Maryland
  • Centerline Financial Services/Group/Peter Dubow/Karen Schwab 1001 Craig Road St. Louis, Missouri U.S.A.
  • Phone: 866-840-3109
  • Web:
  • Category: Loans

Centerline Financial Services/Group/Peter Dubow/Karen Schwab LOAN SCAM: Preying on the honest citizen St. Louis Missouri

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I applied for some different loans to try to get out of an abusive relationship and relocate my entire life, and was contacted by a Mr. Peter Dubow who offerd me a $30,000 "secured" loan at a 7% fixed interest rate, payable over 8 years at $410/month. He assured me it would re-build my credit and get me out of my "horrible situation I must be dealing with."

He explained all I had to do was Money Gram (any local Walmart he told me) the first 4 months payments, as a security, (totaling $1640) to a Karen Schwab in Alberta, Canada, and my loan money would be released no later than 24 hours upon receipt. He even told me that the Money Gram would be $32 and some change, but that that fee would be refunded with the loan money.

He also told me that if Walmarts' Money Gram people asked me what the loan was for, just to say "a personal matter" because they can be nosey. The reason I had to secure the loan was because of my horrible credit. He said it was a "Private Lender" that was willing to take a chance on me because she felt bad about my abusive situation. Karen Schwab was supposedly the ladys' financial advisor.

Dubow faxed me a extremely legal-looking loan contract (5 pages) outling the loan terms he had stated. I read EVERY WORD, and nothing seemed fishy to me at that point. I borrowed $700 from my abusive spouse's friend, and the other $1000 from my best friend who is in debt herself, and only did it because she wanted to help, and supposedly I would be giving it back within 24 hours.

I went to Walmart, and asked for the RED Money Gram (person to person) form, and stepped aside to read the front of it. It said to STOP if you were wiring money because of a lottery winning/prize/gauranteed loan/credit card/etc. So, that raised my suspicions, and I called my friend that had lent me the $1,000 to ask her what she thought. She and I are both reasonably intelligent people with college educations.

She typed "Centerline Financial Group" into her toolbar and the RipOffReport.com site came up with complaints that mirrored my situation with the company. I called Dubow and asked him about it, and he assured me there was no truth behind it. I asked him to gaurantee me the loan in some other form besides the 5 page contract, and he said he couldn't.

I called the Baltimore FBI office and reported the whole situation, company, and names, and details to a Special Agent there. He's writing up the charge now. I guess although I am intelligent, I was so desperate to get out of this abusive relationship, that I stupidly believed that someone was giving me a break. He didn't feel bad for me....he just wanted the $1640. Thank God I did NOT wire the money. DON NOT FALL FOR THIS SCAM!!!

Belcamp, Maryland

This report was posted on Ripoff Report on 05/30/2007 09:12 AM and is a permanent record located here: https://www.ripoffreport.com/reports/centerline-financial-servicesgrouppeter-dubowkaren-schwab/st-louis-missouri-63146/centerline-financial-servicesgrouppeter-dubowkaren-schwab-loan-scam-preying-on-the-hon-251163. 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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