Lowe's Financing Services - Karla Gillespie - Rebecca Cutter - Randall Stewart - Dennis Scott - Angela Lowes Beware of Lowe's Financial Services. Kingston 8 Jamaica, West Indies Jamaica
On Thursday, November 15, 2007 I filled out an online request for a $60,000 personal loan. Monday, November 19, 2007 I receive a call from Karla Gillespie out of Jamaica, telling me that the loan has been approved by a private lender in Florida.
First Mrs. Gillespie asked me to fax a copy of my driver's license, my W-2 tax returns and a job letter to Mr. Solowitz in Beverly Hills, CA. I faxed out this documents the following day.
On Wednesday, Mrs. Gillespie called again to assure me that the loan have been fully approved by the lender. She tells me that because my personal credit is poor, that I had three options for colleteral. 1: Have a motor vehicle that was fully paid for and newer than 3 years. 2: Make three (3) advance payments of $931.29 that instead of having 84 payments, that I only had to pay 81 payments and have a 30 day grace period, or 3: have an insurance policy to secure the loan. The insurance policy would run me into $2,971.60 with a interest earning of 3.75, which would be paid off after I finished paying the initial loan of $60,000 including the interest charges. That this insurance policy would cover 6 months if I ever became unemployed and that my next of kin would not be responsible for the loan if something fatal happened to me.
Mrs. Gillespie emailed me the contracts on Friday, November 23 for me to sign and include my bank information so they could deposit the fund into my checking account. She instructed me to fax the signed documents and then make a wire transfer via Money Gram or Western Union for the amount of $2,971.60 for the insurance policy.
Well today's Saturday morning and I still have not sent them the money, instead I have done an entire background check on this company and have come out with no information. On the contract, it states that the "Lowe's Financing Service" are a corporation organized and existing under the laws of the State of Florida. I went to the division of corporation website and searched for this company and they do not exist. I contacted Tallahassee and they don't have this corporation listed.
I spoke to Mrs. Gillespie yesterday and told her what I had found out, she tells me that she has worked for this company for 3 years and that the company has a huge reputation. That I can't find any information because a huricane hit the area in 2005 and they had to dissolve the corporation and move their offices to the carribean (Jamaica).
After I spoke to her, I felt more at eaze. I was going to wire the funds later this morning, so that I could expect my $60,000 loan. Then I decided to just check a bit more on here and found the search area for loans. I read a few posting that others have sent and have now realized that this is the same situation.
Thank God, I found this information in time so that I wouldn't be another individual to be scammed by these crooks.
Manny
Davie, Florida
U.S.A.
1 Updates & Rebuttals
Chris
Riverside,California,
U.S.A.
info
#2Consumer Comment
Fri, December 14, 2007
Reliability Report for
Lowes Financing Services
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Name: Lowes Financing Services
Phone: (877) 293-8708
Fax: (310) 362-0459
Address: 15514 Perdido Key Drive
Pensacola, FL 32507
Principal: Miss Karla Gillespie, Loan Representative
Customer Contact: Ms. Rebecca Cutter, Customer Relations Manager - (877) 293-8708
File Open Date: December 2007
TOB Classification: Consumer Finance & Loan Companies
BBB Accreditation: This organization is not a BBB Accredited business.
Customer Experience
According to information supplied by consumers this company states for an upfront fee they are approved for loans ranging from 5,000.00 to 10,000.00. The company request the fees be sent to 4543 Upper Waterloo Rd. Kingston 8 Jamaica West Indies. Fees have ranged from 489.00 to 1,249.78.
The BBB processed a total of 0 complaints about this company in the last 36 months, our standard reporting period.
Licensing
This company is in an industry that may require licensing, bonding or registration in order to lawfully do business. The BBB encourages you to check with the appropriate agency to be certain any requirements are currently being met.
Company Management
Additional company management personnel include:
Mr. Randall Stewart - Insurance Adjuster
Ms. Rebecca Bergwall - Loan Representative
Additional File Information
According to the company's contract they indicate Lowes Financing Service (the Lender) is a corporation organized and existing under the laws of the State of Florida with its head office located at 15514 Perdido Key Dr. Pensacola, FL 32507. The BBB has checked the websites of our Escambia County Tax Collectors office for a Business Tax Receipt, The Department of Financial Services website for registration verification and the State Department of Corporations for filings however we have not been able to determine the company exists.
According to Department of Financial Services the address listed in the company's loan agreement of 15514 Perdido Key Dr. Pensacola, FL 32507 is an empty lot.
Additional Telephone Numbers, and Email Addresses
Additional Phone Numbers
Tel: (876) 418-8013
Tel: (876) 332-3123
Additional Email Addresses
rruker002@neo.rr.com
Industry Tips
Advanced Fee Loans
Advance fee loans companies "guarantee" low interest loans if the borrower pays a processing fee in advance. Once the fee is paid the company keeps the money and often fails to process the loan. These companies advertise in local newspapers or shopping guides and employ slick telemarketers to promote their fraud. They accept applications over the telephone and charge $25 to 100's of dollars for such services. If offered a guaranteed loan or some other form of credit for a fee paid in advance, decline the offer. Charging such an up-front fee (except for a credit report
BBB Definition:
report - A summary of activity reflected in a company's BBB file. Includes basic business background, BBB Accreditation information, and BBB complaint activity over the previous three years. Also reports may include any known government actions, advertising issues or other information that results from activity conducted by the BBB.
and the appraisal for a mortgage) is against the law. Although advance fee loans are illegal, they can be very difficult to monitor and prevent. The Federal Trade Commissions Telemarketing Sales Rule makes it illegal for telemarketers to guarantee loans or credit based upon advance payment. Legitimate lenders never "guarantee" loans for credit cards before you apply, especially if you have bad credit, no credit, or a history of bankruptcy. The bottom line is if you cannot obtain money or credit from conventional sources close to home--such as banks and credit unions-- it is unlikely to be found through a classified ad, telemarketing or an offer sent in the mail. Ask yourself: why would far-away "lenders" be more likely than local financial institutions to provide you with money. For more information on FL companies, contact the State Comptroller's Office Tallahassee at (800)848-3792. For out of State caller dial 850-410-9275. For calls with Canadian PO Boxes please call the CCBBB @ 1-613-751-4443.
Report as of December 14, 2007
Copyright 2007 BBB, Inc.
If you choose to do business with this business, please let the company know that you contacted the BBB for a report
BBB Definition:
report - A summary of activity reflected in a company's BBB file. Includes basic business background, BBB Accreditation information, and BBB complaint activity over the previous three years. Also reports may include any known government actions, advertising issues or other information that results from activity conducted by the BBB.
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