- Report: #80380
Complaint Review: Debt Free Ventures - Santa Monica California
-
Author Confirmed
Why?
Debt Free Ventures
1601 Cloverfield Blvd. 2nd Fl. Santa Monica, 90404 California, U.S.A.
Phone:
866-262-0433
Web:
N/A
Categories:
Business Rating:
(0)
Tell us has your experience with this business or person been good?
Debt Free Ventures ripoff, approved loan never received after advanced funds were sent, now cannot reach company by phone or on its website, which is now no longer available Santa Monica California
*Consumer Comment: The advance fee loan -- another guaranteed rip-off.
*Consumer Comment: The advance fee loan -- another guaranteed rip-off.
*Consumer Comment: The advance fee loan -- another guaranteed rip-off.
*Consumer Comment: The advance fee loan -- another guaranteed rip-off.
*Consumer Suggestion: I was a victim of this type of scam too.
I called Debt Free Ventures whose number was in my local paper under "finacial services", advertising, "do you need money for houses, cars, or debt consolidation?".
The lady whom I spoke with told me that I could go to their website and apply for a loan, which I did at www. debtfreeventures.com. I received an email back telling me that a representative would soon be in touch with me.
I never got a call from the representative, so after two days I called them, I spoke to Steven Shaw, who claimed to have looked up my information, and told me that I was pre-approved for a $15,000. He told me that he would need a 5% of the loan as a deposit in case I filed for bankruptcy, and that this was just a means to protect their investors. I was told that I would get the money back after a year, as long as I was current on making my loan payments.
Steven faxed over the documents I had to sign, and I faxed over my necessary documents. I still felt funny about putting money up front for a loan that was not yet delivered, so I called Steven, and told him about my feelings. I even told him that it was illegal to ask for money upfront before a loan was delivered.
He assured me that he understood my concerns, and then reiterated that it was not a fee, but just a security deposit for the investors, and that I would get the money back after one year of on time payments. He stated that they deal with very high risk loans, and that out of about a 1,000 people, they usually only lose about 60 as "bad loans". He told me that they loan amount up to $300,000, because they also do house loans.
I was still a little unsettled, so I asked him if I could only borrow $1,500, so that way I would not feel so bad if I lost the money. He told me that the smallest loan amount that he could lend was $5000 because they don't loan anything less than that.
I finally agreed. I was told to send the money Western Union($250...5% of $5000) to Howard Fleming in Atlanta, Georgia. This man was supposed to be some representative from their corporate office, supposedly in Atlanta, Georgia.
After, I sent the money via Western Union, I called Debt Free back, and Steven took the money order number, he then told me to fax over a copy of a voided check, and to speak to Mary. I spoke with Mary, and she told me that I would get my money in 3 business days.
Well, I called to check on why I had not received my money, and their phone message just said "this mail box is full". I went to their website, and the website has been closed down. I am now out of $250, that I need, and I do not know who to turn to to get my hard earned money back.
Laurie Goldstein is listed as the CEO, but since their website is down, and the phone is not working, I don't know who to get in touch with.
Lawrence
Middletown, New Jersey
U.S.A.
The lady whom I spoke with told me that I could go to their website and apply for a loan, which I did at www. debtfreeventures.com. I received an email back telling me that a representative would soon be in touch with me.
I never got a call from the representative, so after two days I called them, I spoke to Steven Shaw, who claimed to have looked up my information, and told me that I was pre-approved for a $15,000. He told me that he would need a 5% of the loan as a deposit in case I filed for bankruptcy, and that this was just a means to protect their investors. I was told that I would get the money back after a year, as long as I was current on making my loan payments.
Steven faxed over the documents I had to sign, and I faxed over my necessary documents. I still felt funny about putting money up front for a loan that was not yet delivered, so I called Steven, and told him about my feelings. I even told him that it was illegal to ask for money upfront before a loan was delivered.
He assured me that he understood my concerns, and then reiterated that it was not a fee, but just a security deposit for the investors, and that I would get the money back after one year of on time payments. He stated that they deal with very high risk loans, and that out of about a 1,000 people, they usually only lose about 60 as "bad loans". He told me that they loan amount up to $300,000, because they also do house loans.
I was still a little unsettled, so I asked him if I could only borrow $1,500, so that way I would not feel so bad if I lost the money. He told me that the smallest loan amount that he could lend was $5000 because they don't loan anything less than that.
I finally agreed. I was told to send the money Western Union($250...5% of $5000) to Howard Fleming in Atlanta, Georgia. This man was supposed to be some representative from their corporate office, supposedly in Atlanta, Georgia.
After, I sent the money via Western Union, I called Debt Free back, and Steven took the money order number, he then told me to fax over a copy of a voided check, and to speak to Mary. I spoke with Mary, and she told me that I would get my money in 3 business days.
Well, I called to check on why I had not received my money, and their phone message just said "this mail box is full". I went to their website, and the website has been closed down. I am now out of $250, that I need, and I do not know who to turn to to get my hard earned money back.
Laurie Goldstein is listed as the CEO, but since their website is down, and the phone is not working, I don't know who to get in touch with.
Lawrence
Middletown, New Jersey
U.S.A.
5 Updates & Rebuttals
Whitney
Lexington,Kentucky,
U.S.A.
I was a victim of this type of scam too.
#2Consumer Suggestion
Wed, October 13, 2004
Lawrence...I see where your report was filed in February, so I'm interested to know if you ever received resolution from your situation. I know exactly how you feel, because I was recently a victim of an advance fee loan scam as well. While my money has yet to be returned, I am still fighting tooth and nail to get it back. I hope you didn't get discouraged and give up as many victims often do. It's very important that you make others aware so that they too don't fall victim to this type of scam. There are numerous report you can file online, and I think I've filed them all. Start with the Better Business Burea and the FTC. Since this occurred in GA, see if you can find a website for the OCCC, or Office of Consumer Credit Commissioner and file a complaint with them as well. Additionally, you can try contacting one or more of the popular judge tv shows and see if they might be interested in trying your case. I've done this and was contacted almost immediately. If all else fails, you can file a claim in your local small claims court. If you're internet savvy, there is really a wealth of information available if you know where to look. Hope this helps. Don't give up!
Mike
Radford,Virginia,
U.S.A.
The advance fee loan -- another guaranteed rip-off.
#3Consumer Comment
Sat, February 14, 2004
You were right, it is illegal to ask for money up front before funding an "approved" loan. Some places require an application fee (Avoid them! Most lenders will consider your loan application for free) or that you pay third parties for appraisal of your house, etc. But before they can collect these they have to explain that the loan is NOT guaranteed or approved at that stage. Really, advance fee ANYTHING is very suspicious; advance fee to transfer money from Nigeria, advance fee to claim lottery winnings, advance fee to get job from HD Canada, advance fee to get credit card from Nameyourbenefits, etc. They're all scams. The advance fee loan is a particularly lame one. Are these "investors" willing to lose $4750 but not $5000? Because that's what it boils down to if their deal were legit. If they take your $250 and then send you $5000, they're out $4750 if you don't pay it back. They could have just sent you a check for $4750 and then required you to make payments as if you owed $5000. There are some real places that do that, not a good deal, but it is legal. I'm sure all the names are fake and the people are long gone, but you should report this crime to the Atlanta police and the Georgia Attorney General. If "Howard Fleming" went to a Western Union office to pick up the money, there may be a picture of him on security camera. There is almost no chance of getting your money back, but when a pattern of complaints emerges, it's more likely they'll go out looking for the scammers.
Mike
Radford,Virginia,
U.S.A.
The advance fee loan -- another guaranteed rip-off.
#4Consumer Comment
Sat, February 14, 2004
You were right, it is illegal to ask for money up front before funding an "approved" loan. Some places require an application fee (Avoid them! Most lenders will consider your loan application for free) or that you pay third parties for appraisal of your house, etc. But before they can collect these they have to explain that the loan is NOT guaranteed or approved at that stage. Really, advance fee ANYTHING is very suspicious; advance fee to transfer money from Nigeria, advance fee to claim lottery winnings, advance fee to get job from HD Canada, advance fee to get credit card from Nameyourbenefits, etc. They're all scams. The advance fee loan is a particularly lame one. Are these "investors" willing to lose $4750 but not $5000? Because that's what it boils down to if their deal were legit. If they take your $250 and then send you $5000, they're out $4750 if you don't pay it back. They could have just sent you a check for $4750 and then required you to make payments as if you owed $5000. There are some real places that do that, not a good deal, but it is legal. I'm sure all the names are fake and the people are long gone, but you should report this crime to the Atlanta police and the Georgia Attorney General. If "Howard Fleming" went to a Western Union office to pick up the money, there may be a picture of him on security camera. There is almost no chance of getting your money back, but when a pattern of complaints emerges, it's more likely they'll go out looking for the scammers.
Mike
Radford,Virginia,
U.S.A.
The advance fee loan -- another guaranteed rip-off.
#5Consumer Comment
Sat, February 14, 2004
You were right, it is illegal to ask for money up front before funding an "approved" loan. Some places require an application fee (Avoid them! Most lenders will consider your loan application for free) or that you pay third parties for appraisal of your house, etc. But before they can collect these they have to explain that the loan is NOT guaranteed or approved at that stage. Really, advance fee ANYTHING is very suspicious; advance fee to transfer money from Nigeria, advance fee to claim lottery winnings, advance fee to get job from HD Canada, advance fee to get credit card from Nameyourbenefits, etc. They're all scams. The advance fee loan is a particularly lame one. Are these "investors" willing to lose $4750 but not $5000? Because that's what it boils down to if their deal were legit. If they take your $250 and then send you $5000, they're out $4750 if you don't pay it back. They could have just sent you a check for $4750 and then required you to make payments as if you owed $5000. There are some real places that do that, not a good deal, but it is legal. I'm sure all the names are fake and the people are long gone, but you should report this crime to the Atlanta police and the Georgia Attorney General. If "Howard Fleming" went to a Western Union office to pick up the money, there may be a picture of him on security camera. There is almost no chance of getting your money back, but when a pattern of complaints emerges, it's more likely they'll go out looking for the scammers.
Mike
Radford,Virginia,
U.S.A.
The advance fee loan -- another guaranteed rip-off.
#6Consumer Comment
Sat, February 14, 2004
You were right, it is illegal to ask for money up front before funding an "approved" loan. Some places require an application fee (Avoid them! Most lenders will consider your loan application for free) or that you pay third parties for appraisal of your house, etc. But before they can collect these they have to explain that the loan is NOT guaranteed or approved at that stage. Really, advance fee ANYTHING is very suspicious; advance fee to transfer money from Nigeria, advance fee to claim lottery winnings, advance fee to get job from HD Canada, advance fee to get credit card from Nameyourbenefits, etc. They're all scams. The advance fee loan is a particularly lame one. Are these "investors" willing to lose $4750 but not $5000? Because that's what it boils down to if their deal were legit. If they take your $250 and then send you $5000, they're out $4750 if you don't pay it back. They could have just sent you a check for $4750 and then required you to make payments as if you owed $5000. There are some real places that do that, not a good deal, but it is legal. I'm sure all the names are fake and the people are long gone, but you should report this crime to the Atlanta police and the Georgia Attorney General. If "Howard Fleming" went to a Western Union office to pick up the money, there may be a picture of him on security camera. There is almost no chance of getting your money back, but when a pattern of complaints emerges, it's more likely they'll go out looking for the scammers.
