Complaint Review: G.E Capital Bank Florida

 I had applied for a poor credit personal loan.. Received call from David Watson, GE Capital Bank, phone # 607-625-9911... Stated that I had been approved for loan ... what was the amount I wished to borrow.. I stated I would like to borrow between $3000 and $5000 ... to pay off some bills. David told me I was approved for this and I could have $3605 sent to me within a hour.  My interest would only be 10% simple.. I would pay $105 per month for 12 months to pay this loan. After making 3 - 4 payments on time my credit score would improve 175 points and I would be eligible for another loan.... There was no penalty for early payoff.. All he needed to do prior to deposit of the $3605  was to verify that I was financially capable to make this monthly payment... David then asked me when I would be able to do this....I stated that I would be able to have it to them by 1:15 David stated the he would call me back then...When David called he instructed me on how to send the money. He told me to Send it on a Walmart money card...Receive Code # 11423. David then went on togive me the Account number ((REDACTED)). David again assured me that the money was not going to be taking off of the card. David stayed on the phone with me till I put the 105 on the card. I had the gave him the reference number. David then placed me on hold after about a half an hour Daid came back on the phone...David went on to explain that because my credit score was low the Federal Government Lending required me to have insurance that would make my monthly payment on this loan if I could not... but before he could release the hold on my $3605 funds I would need to provide proof of $275.. for the insurance... I became very angry,  telling him he had lied to me and I was not going to send him any money... I demanded my $105 returned... which I reminded him was never to have been taken from this card... David continued to try to convince me why I needed this insurance... why I needed to provide the now only $130 for 6 months insurance.... I demanded the $105... David then told me they could not return the $105... He made some mention of refunding a portion of this minus $55? cancleation fees.... I reiterated that none of this had been mentioned in any previous conversations... that the money was never to come off the card and the loan was to have been sent to me within 30 minutes...He continued to state the same stuff with refusal to refund my $105..I accused them of fraud, promised to pursue reconstitution in any form available and to broadcast this scam, alert consumers in any way possible.... He hung up threatening legal action against me .