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Mutual Life Funding Co. Robert S. Spencer, Regina Ross, Sheldon Scott, Ryan Gosolee Looking for an unsecured loan, with less than perfect credit. I was contacted by Ms. Regina Ross of Mutual Life Funding Co., who informed me I had been referred by another company. This company was ne Kingston 5 Internet
After faxing 1) government identification-drivers licenses and 2) proof of income; I was asked to send either $399, 3 months of payments, or some form of collateral as security for the loan. I opted to send $399 for insurance on the $5,000 loan via Western Union to Mr. Sheldon Scott in Jamaica. After completion and receipt, Ms. Regina Ross would email me the loan documents and direct deposit authorization. I received the loan documents, signed and faxed back. I was called back and informed I would receive a call from fiance department within a few hours. I was later contacted by Mr. Ryan Gosolee, loan officer for Mutual Life Funding Co. I was told the funds would be released overnight. When I didn't receive the funds, I contacted Mr. Gosoleeabout the funds, I was told the company had exceeded the loan limit for the week and I would receive the funds on the next loan distribution day, Wednesdays. The next Tuesday, I received a telephone call from Mr. Gosolee and informed me the initial company had reviewed my credit reports and determined an increase of the security deposit would be needed, an additional $500. I informed Mr. Gosolee I could not send any additional funds, so he informed me he could try some other companies. As the days went by the additional amount dropped to $400. I asked what options were available : 1-send additional funds or 2- refund in 30 days. I elected a refund which I should receive in 30 days.
1 Updates & Rebuttals
Robert
Irvine,California,
U.S.A.
No you won't
#2Consumer Comment
Tue, December 27, 2011
I elected a refund which I should receive in 30 days.
- I am sorry but your money is long gone and you won't be getting it back. You fell for the "Advanced Loan Fee" Scam. The fact is that the only thing that would have happened if you sent the additional money is that they would have come up with some reason why you need to send even more money. They would continue to do this until you figured it out yourself that there was never any loan. So if you can be glad about one thing, be glad that you lost only $399.
If you think they are going to get caught..think again. Nothing they gave you was traceable. The phone number was a throw-away cell phone paid for with a stolen credit card, the names they gave you are fake, the addresses don't exist, the Western Union is untraceable. Oh and in case you didn't know it Jamaica is a foreign country. This is why they say it takes 30 days to get the refund. Because in 30 days they will have moved onto a new set of victims with an entirely new set of phone phone numbers, and all you are going to get with the numbers you have is a message saying the phone has been disconnected.