Complaint Review: City Lending Group - Internet Nationwide

Several weeks ago I was contacted by a loan representative from City Lending Group. I had recently applied for a signature loan online and was told they received my information from that site. I was very sketical with doing business with a company I had not heard of. The loan representative and I talked for a long time. I was told that since my credit history was so bad that they had been able to get funds from a personal lender and that due to this I would need to send five monthly payments to assure the loan. Now let me say this up front. My credit is bad due to a divorce and I am not ashamed of that fact. I have spend many years trying to reestablish myself and honestly these people were the first that would work with me so I could move forward.

I felt I questioned this representative throughly and he assured me I could go to the BBB to check them out and that the business had been in business for many years.

I did check the BBB and at that time there was nothing on this company. PLease check everything before you consider doing business with this company. I spoke with this same loan representative at least five times in the past few weeks and he never pushed me and explained the loan and told me to make sure I read the contract completely.

I read the contract. I checked the BBB. I was told the loan agreement and the contract were legal binding documents and could be held in a court of law. I even called their customer service line to make sure I could talk to someone else since I had not talked to anyone but him. At the time I called customer service I did not get anyone but I did receive a voice mail at the same time I was talking to this loan representative from a man in customer service.

Unfortunately I sent them the money. And yes it was out of the country. I questioned him on this one too since it was being sent to Canada. The whole time I was given complete answers with no hesitantly. I was even told to check with BBB. When I questioned him about the two articles written on ripoff reports of course I was given the answer that their practices were a little off the path but that was because my credit was so bad. I was told on January 29th by this same represenative that everything was fine and that the funds would be in my account by 5 o'clock on the 30th. I even told this representative that if things were not done properly I would be filing a report. And it would depend on their company whether it was positive or negative.

This morning, January 30th I was called by supposely this company loan finance manager and was told that due to my loan's insurance not being approved (which I did not sign up for) ,I was told this was a company thing and they were to pay for it, that my loan application was reviewed again and that to assure the loan I would need to send these people another collerator payment for 1440.00. That was the same amount I sent initially.

Now I immediately refuse. Now even if I had that kind of money I would not have sent it to them. That is 1/5 of the loan. I wish I been this skeptical before I sent the money. I was told a refund would be issued but it would be next month before I received it.

Now remember your contract is only good for 1 week but your contract states that additional funds may be asked for to assure the loan and that the refund would be send in next billing cycle. Problem here is that if the company is the one I would be making payments too why do they not have my money even now. I'm sure there are lots of people out there that think what a fool but I consider myself a intelligent woman. I have a college degree and have worked in banking for several years even though I don't work there now. I did what I thought was right by checking this company out before I sent them the money and I questioned this loan representative countless times.

I made the worse mismake I could have by wanted that loan so badly. I truely believe that in my eyes I was scammed. I can not state that I did not receive my money back since the date has not come yet but I can say this much. This company's practices are far from traditional and after reading the previous articles written about this company I can see why these negative articles were written. This company is preying on people that feel they cant get loans the traditional way and taking large amounts of money from people that normally and in my case can't spare it. I have filed my complain with the Ferderal Trade Commission and pray that if you really need a loan please consider all the information I have stated before you decide to do business with them.

Oh,Yes one more thing. I received another call before I decided to go with this company stating they were a sister company to City Lending. They offered me four payment for collateral instead of five.

Please and I say please do everything you can to check this company along with others that might call you about a loan out before you send them money. Apparently a legit loan broker will not ask for a cash colleteral. I will file another report after February 24th to let everyone know if I did receive my money.

Again, Please do your homework. Even more than I did. Don't get caught like I did. And don't forget that just because you have bad credit, you still have rights. And anyone that keeps telling you that you have to go this route due to the fact that your credit is bad dont do business with them because in the long run you won't get what you are promised.

S.B.

Winston Salem, North Carolina

U.S.A.