Complaint Review: Oakdale Lending Group

I was advised by Oakdale Lending Group that I was approved for a personal loan that I desperately needed. They required a security deposit. I wired the money as requested. Chris Hamilton called me and advised that everything was approved and I would get the loan direct deposited on Tuesday, Nov. 11. He called later that night and advised that Tuesday was actually a bank holiday and the funds would be deposited on Wednesday.

On Wednesday I received a call from Victor Ellis. He advised that the lender had reviewed my loan and required an additional security deposit. Stupidly, I wired that money and Mr. Ellis advised that the funds would be deposited into my account on Thursday. He assured me that everything was approved.

Mr. Ellis called me on Thursday and said that, unfortunately, the lender had decided not to approve the loan; however, he had spoken to the CEO of the company and they had approved me for a larger loan. However, they required an ADDITIONAL security deposit that I did not have as I had exhausted all my revenues with the 2 previous security deposits. He assured me that if I wired the additional funds, the money would be available to me on Friday.

I, belatedly, realized that I was dealing with fraud. I had a signed contract signed by the CEO for my original personal loan and they were not complying with the contract. They had committed fraud. I looked online and discovered that Oakdale Lending Group had only been online since 10/22/08. Mr. Ellis had told me that he had worked with the first lender for 7 years. Obviously yet another lie. They have agreed to refund me the security deposits; however, not until December 8, 2008. Hopefully, I will get my money back; but at this point it is too late.

My finances are in ruins and plans that I had made have had to be cancelled, including attending my only son's wedding. I cannot believe I fell for this. Please be on the lookout for any other companies like Oakdale Lending.

B
Sarasota, Florida
U.S.A.