Complaint Review: Coral Financial Group - Options Financial Group

I placed an application at www.coralfinance.com and was contacted with a pre-approval by Mr. Murray. The first thing that I noticed with speaking with him is that he sounded like he was speaking in a cave. He congratulated me that I'd been approved for the $50,000 line of credit that I'd requested. He then outlined the 3 options of securing the loan. It makes a lot of sense that a financial institution could insure a loan, similar to how credit cards issue payment protection plans and we've got to realize that this is the hook.

I asked Mr. Murray to send the terms over in writing, which he did. The document made no mention of how the funds were to be sent over to them to secure the loan. When asked how the transaction should take place, the first thing he mentioned was western union. I asked if there were other forms of payment for the policy and he mentioned moneygram and other similar transfer services. What I pointed out to Mr. Murray is that there is not a clear avenue for recourse, if for some reason the loan didn't go through and his just saying that the loan would go through was not sufficient. I suggested first that he take deposit out of the loan funds. He refused. I then suggested that I place the transaction on a credit card or bank transfer. He refused stating that they had problems in the past.

Bottom line here folks, THIS IS A SCAM. I thank God for taking me through at least 3 other issues like this and allowing his child to bump his head so that now, Mr. Murray's line of charming lies can be discerned for what they are AND more than that, I can share testimony that helps other people. Don't western union these people anything. If they want to make you the loan and make the interest profit that they describe, they should not put you in a position of exposure or let a deposit stand in the way of completing the transaction.

**Oh, and be very careful! There is a Coral Financial Group, Inc. in Florida with a A+ BBB rating. These are 2 very different entities and the actual corporation in Florida didn't have a clue as to who the people in Jamaica are.

Dlw
Scottsdale, Arizona
U.S.A.