Complaint Review: 2nd Chance Financial

Approximatly 3 weeks ago I responded to an ad in the local new paper offering small business loans. I was told I was approved for the loan and would need to send $800.00 for insurance on the loan to cover the first and
last payments on the loan. When I told the rep "Sandra" on the line that I did not have that much money she agreed to cut it down to $550.00. I was instructed to send in the payment Western Union to a James Fields in
Toronto, Ontario and call back with the tracking number.

I sent the $550.00 as instructed and was told to expect my Cashier's check on Thursday, June 5, 2003 via FedEx between 9AM and Noon. I called at approximately 2:30 PM and was told that my funds could not be released
because the insurance company would not allow it with the insurance amount being paid in full and that I would need to send another $500.00 which comes to a total of $1050.00 for insurance rather than the $800.00 I was originally quoted for insurance.

When I began to question the difference in amount the gentleman on the phone became very rude and told me it was because of my credit. He then transferred me to a young lady named "Vanessa" who was going to personally take care of the situation and make sure that I get my check no later than Friday, June 13,2003 after I send the extra $500.00. She apologized for the other agents inability to follow company policy and the hold up and assured me things would be fine. But when I asked her what the extra amount was for and if the loan payments had gone up from $400 to $525 she seemed just as confused as I was. She had just told me the insurance amount was the first and last payment on the loan. Well at $400 a month the insurance payment should have been $400 not $1050 unless the payments where now $525.00. I decided to let it go and call back later at which time I got the previous very rude "gentlemen" who said it was not the first and last payment and told me to call back when I send the other $500.00 and hung up on me. I called right back and talk to Vanessa who stated it might have gone up due to the insurance company wanting the loan to have "Full Coverage' instead of basic coverage. She identified the very rude young man as her "supervisor"
and instructed me that the new "receiving agent" would be Althea Austin, also in Toronto, Ontario because James is not scheduled to work on that day.

Needless to say I never got the loan check or my money back. And these guys are good too, they have "a legal department" you can speak with and everything.

Jennifer
Kissimmee, Florida
U.S.A.