Complaint Review: Cohen Credit Solutions - New London Connecticut
- Cohen Credit Solutions 2 Shaws Cove Rd. New London, Connecticut USA
- Phone: 1-800-505-0298
- Web: www.cohencs.com
- Category: Loans
Cohen Credit Solutions ripped me off by telling me I was approved for a loan, then asking for advance "cash Collateral" payments, and an advance payment for an "insurance policy" on the loan. New London Connecticut
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I was contacted by Cohen Credit Solutions after doing a Google search for debt consolidation loans for people with bad credit. After filling out an online application, I was told I was approved for a loan. Because of my credit, they said they would need the first 3 months payments upfront (a total of $900). They called this "cash collateral." After consulting with a friend who is a banker, I was told that "cash collateral" is a legitimate, albeit rarely used, banking tool. So, I submitted payment via Money Gram per their instruction, at which time I was told the loan funds would be deposited in my account in 2 hours. The deposit never happened.
The next day, I was informed by an Amanda Baxter that "the lender" had "reassessed" the loan and felt that with my credit, they needed another $900 upfront payment to release the loan. I borrowed and scraped and came up with the second $900 and sent it to them. The same 2 hour deposit promise was made. Still nothing.
Now, they are telling me that I need to purchase (from them of course) an insurance policy on the loan for $750. I have not paid that, nor will I. I did an extensive search (which I should have done beforehand) and found numerous BBB complaints against them. I filed on myself, as well as with the Fraud Division of the Texas Attorney General's Office.
This report was posted on Ripoff Report on 06/26/2013 08:09 PM and is a permanent record located here: https://www.ripoffreport.com/reports/cohen-credit-solutions/new-london-connecticut-06320/cohen-credit-solutions-ripped-me-off-by-telling-me-i-was-approved-for-a-loan-then-askin-1062410. 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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