Liberty Capital Credit Corporation Approval Then "Bait and Switch" Chicago Illinois

Searched google for unsecured and bad credit loans, because I had a Fair credit score (658) and needed to obtain a loan for $15,000. Came across the advertisement for Liberty Capital Credit Corporation (www.libertyccc.com) which from all indications looked like a real and legitamate company. Filled out the simple application which required you be employed with proof of employment, proof of residence, and banking information. It had you sign a normal loan agreement, and the last step was that a 6-14% security deposit would be required. The website has a loan status that you can look at to track the process of your loan.

Well everything looked okay, and I received an e-mail from the company approving me for a $15k loan at 9.85% for 10 years, which wasn't bad. Then came the notification that I needed to send a security deposit of 6% of the loan amount, and afterwards I would receive in 5 banking days a bank transfer for the money. The initial e-mail told me that I needed to send the money via Money Gram. Since I didn't know what was Money Gram, I asked what it was, and got a e-mail saying it was the same as Western Union. I then paid $75 in a fee to wire transfer $900 to an individual, Peter Coleman in Tampa Bay, Fla or Key West, Fla for the security deposit. I notified the company of the transaction number and asked when I should receive my transfer. The company responded that their agent could not pick up the money via Western Union, and I needed to retrieve the money and resend it via Money Gram. I called the company and spoke to a Peter Moore, a Manager in the Company. He told me if I couldn't get the Western Union fee back to deduct the $75 from the total and send it via Money Gram. This time it cost me $60, but I only sent $825 because the reduction in the fee lost. After about a two days I e-mailed Client Services for the company and asked when I would get my transfer. It wasn't until another two days that I got an acknowledgement that they received the security deposit.

After 5 banking days, I called the company and spoke to representative who informed me that I should receive transfer either the next day, which was a Friday or the following Monday by 12PM. I waited until 11AM on Monday to call since I had not received the transfer of funds yet. This time I spoke to Peter Moore who said he looked at the stauts and funds should be disbursed in the next hour, but if not to call back.

At 11:57 AM (CST) I received an e-mail from the company saying that there was a computer problem and that they required an additional $215, but the e-mail did not detail WHY or to WHOM the money was to be sent, but it did state that once the addiitonal funds were received that the bank transfer would be effected. The Status of my Loan at the website still reflected only that I need a $825 or 5.5% security deposit, which has been accomplished.

I called and e-mailed the company several times to have them explain the reason for the additional funds and as of this writing I haven't heard anything from this company and yet I complied with all their instructions. I have spoken to another representative Roxanne Miller, whom I informed that the FBI had been notified of their activities, and the only answer she could give was to request my money back. At this point it is questionable whether or not I will receive my monies back, plus the fees that I have spent sending the security deposit money.

So you know I am also filing a report with the Illinois Consumer Protection Agency, because they are in violation of the Fair Lending and RESPA Law.

I have also spoken to FBI and they feel that this company is probably a company operating in another country and ziping off Americans.

Chris cheek
Comer, Georgia
U.S.A.