Complaint Review: Alterna Referrals Services

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CASE REGARDING LOAN FRAUD: ALTERNA REFERRRALS SERVICES    
September 29, 2009  
Company Info:
Alterna Referrals Services
321 S. Plymouth Court
Chicago, IL  60604
Phone: 1-877-840-3606
Fax:  1-866-679-8506
Website: www.alternareferrals.com
DESCRIPTION OF INCIDENT    
On September 21, 2009, I received a phone call from Phyliss Johnson, an account representative with Alterna Referrals Services. She informed me I was approved for a personal loan in the amount of $10,000. I applied to different loan websites for a bad credit loan.  
I was not able to follow up with Phyliss until, Wednesday, September 24, 2009. At this time she reviewed the loan terms and conditions. Below is an outline directly from the contract:  
                               Loan Amount: $10,000
                               Loan Term: 4 years-48 months
                               Monthly Payment: $239
                               Cost of Borrowing: $1472
                               Total Loan Repayment: $11,472
                               Interest Rate: 7%
                               Refundable Insurance Premium: $1434  
She stated and the contract state, that insurance coverage was needed because of my credit history. It would protect the lender from the occurrence of default upon any individual loan agreement.        At this time, I did inform her I did not have the means to come up with $1434. She said they would be able to break the payment into half. How this would be done would be $717 down and after the money was transferred into my account the other half would be paid.  I told her I needed a couple days to see if I could get the money together.  
By Friday, September 25, 2009, I was able to come up with $600. I had to take out a cash advance for $500 and take the rest from what I had left in my bank account. In the meantime, Phyliss had called me 3-5 times to see if I got to Western Union. Around 11:00 am, I did get to Western Union, at which time she called again to let me know I needed to change the recipient name. She originally gave me a name of Quenessa West to be sent to Concord, Ontario. The name changed to Damion Williams in Concorde, Ontario. She (Phyliss) stressed the importance of the correct spelling of the name, as it would be a Brinks Security Officer retrieving the money.  
After leaving the store, I called Phyliss to provide her with the ID number. She told me she would call back within the hour to confirm receipt of funds. She did call back within 20-30 minutes to confirm the money was received and my loan for $10,000 would be automatically deposited into my checking account by 3:00 pm.  
Since the money was not in my account by 3:30, I called Phyllis. She acted surprised to hear that the money was not in my account. She then said she was going to transfer me to her accounting department. I was then transferred to Laura Williams. Laura said my file was red-flagged as I needed to send an additional $717 or the funds would not be released to me. I informed her of the contract I signed and the down payment negotiation. She was aware of it, but said due to my credit history, she still needed more money. I told her I had no other money- I am 4 months pregnant and gave her company every last dime I had. In fact, I would have no money for food or to pay rent by October 1 st . .She hung up on me.  
I called a few more times to try to work out something and also asked to speak with Phyliss, my original account representative. I was told I could not speak with Phyliss any longer and she (Laura) would be the only person I could speak with in the company. The only thing she said she could work out, was to put through a refund request and IF approved I would get my money in 3-6 weeks. Again, I stressed my financial situation and asked her to put herself in my shoes. She had no comment and once again the phone disconnected. I made another attempt and when she finally answered, her comment was that I needed to stop badgering her, she had more important things to do with her time.  
Any attempts I made after that phone call, have been futile, as I only receive voice mail and get no response from Laura or Phyllis.  
In closing, here are a few key points that I found through research after this incident: (By the way I did research them before I moved forward, as I do work for the Better Business Bureau)  
1. Address- 321 S. Plymouth Court   Chicago, IL 60604
    * This location is for the Chicago Bar Association. They have no knowledge of this company or any
       Affiliation.  
2. Phone- 1-877-840-3606
    *When the company calls, the area code exchange is either 347 or 646, which correlates with a New York
      Exchange. You cannot call back on these numbers.  
     **When the 877 number is Googled a list of people and their grievances with the company appear. Many
       Others have gotten taken over by this company.  
3. The Loan states in the closing sentences:
    This statement is to inform you that all funds are 100% guaranteed once we receive all signed documents
     Along with your Refundable Insurance Premium Deposit.  
4. Signed by- President who is Ronald Thorn    
This situation has caused a lot of unneeded stress at this time of my life. Im in a bad financial situation and pregnant and feel completely taken advantage of. Not only am I out the $645.00 I sent them, but also owe the Cash Advance Loan Company $500. Please help me to put this company out of business and to help others from being taken advantage of.  
With much thanks and gratitude,
Lisa B