Complaint Review: Precision Lending Group - Internet Internet
- Precision Lending Group 555 North East 15th Street Internet United States of America
- Phone: 1-877-823-5257
- Web: www.precisionlg.com
- Category: Loans
Precision Lending Group REGENT FINANCIAL GROUP-JEREMY ANDERSON-BEN FREEMAN-JOHN FLEMMING-LINDA ALLRED.$5000 loan with a collateral payment for 6-months free of payment Orlando, Florida ... Internet
*Consumer Suggestion: Signs of the Advance Fee Loan scam.
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I needed a loan for Christmas and searched the internet for a good rate and one that would loan a person with fair credit money. I found Precision Lending through a sea of others. I researched them through a scam site, found they had what appeared to be a very nice and professional website with contact us and testimonials. So I made the call and contacted Ben Freeman(Agent). I put in for a 5000$ loan. Ben Freeman contacted me and congratulated me on the approval of my $5000 personal loan at 6% interest. He said he needed to fax me the contract for the loan.On 12/21/09 Ben faxed me the documents and I looked them over and signed them and faxed them back. He then informed me that because I wasnt a home owner and had no property as collateral I would need to make the first 6 month payments upfront as collateral which came out to be 911.64. He told me I could mail the payment in which would take a week or two before the loan would reach my bank account, Or I could Western Union. I opted for Western Union as I need the money for Christmas in a few days.He had me Western Union the 911.64 to Linda Allred in Toronto, Ontario Canada. The total ended up being 996.64. I then recieve a call from John Flemming on 12/23/09 stating that the insurance company of the lender wasnt happy with the numbers and I would need to pay a full year upfront and if I wanted to cancel the loan due to this they would refund my 996.64 to my bank account and he was apologizing all over himself for this matter. I asked if I could think about it and call him back, John said certainly, but I will need an answer soon.I decided to due to Christmas.Contacted John Flemming to go ahead. He had me Western Union the 911$ which with Western Union costs came to 996$ again to Linda Allred. John then reassured me they would refund me the payment of 172$ for the cost of sending the two Western Unions.How ironic John told me to hold onto my paperwork, I was going to need it.
This report was posted on Ripoff Report on 12/29/2009 04:43 PM and is a permanent record located here: https://www.ripoffreport.com/reports/precision-lending-group/internet/precision-lending-group-regent-financial-group-jeremy-anderson-ben-freeman-john-flemming-l-547079. 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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#1 Consumer Suggestion
Signs of the Advance Fee Loan scam.
AUTHOR: Flynrider - (U.S.A.)
SUBMITTED: Tuesday, December 29, 2009
You haven't been sending money to a loan company. You've been sending it to scammers that are pretending to be a loan company. Signs of this scam :
1. Paying a large advance fee for "collateral". Real lenders do not do this. Only scammers.
2. Sending money through Western Union or Moneygram. Scammers insist upon this. Those methods make the money untraceable. Real financial insitutions use bank wires.
3. Sending money to someone in another country. This pretty much guarantees that the scammers will get away with their scam. Since the money was received outside the U.S., no U.S. law enforcement agency will have jurisdiction.
Sadly, you shouldn't expect to see your $2K again. In a few weeks, the scammers will ditch their disposable cell phones and start again with new phone numbers and company names. The FTC has a webpage about this scam here :
http://www.ftc.gov/bcp/edu/pubs/consumer/telemarketing/tel16.shtm


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