- Report: #1162049
Complaint Review: Loans of America - Internet
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Author Not Confirmed
Why?
Loans of America
Internet, USA
Phone:
1-754-210-8885
Web:
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Loans of America 7-minute loans Mr. Shane/Shawn Williams also took $100.00 from a Green Dot money pak for a loan for $8000.00, but could not receive loan until I give them another Green Dot Money pak for $480.00, and will never, never return my $100.00 from the first money pak. Florida
I was a victim of a scam by three companies, not just one that swore they were gonna help me and my family. I had applied online for a personal loan. With my credit score, I knew that I would not be able to get a great loan, but perhaps an unsecured personal loan, to maybe pay a higher interest rate , but only until my husband and I received our income tax return and we would pay the remaining balance. I had received a call from the 1st company who said they were from 7-minute loans aka Loans of America the so called Gentlemans name was Shawn Williams @ 754-210-8885 ext 151.
He told me we were approved for an unsecured loan for $8000.00. He went through the payment schedule, and the interest rate, and offered to spread the terms out longer to lower the payments if we thought these payments were going to be to hard for us. I agreed to the terms and the rate, and was told that there was a processing fee that would be returned to us for being first time customers this was just to make sure we were serious about paying on this loan. He asked for a Green Dot Money Pak for $250.00. I told him with us being on a bi-weekly pay periods, I was unable to come up with the money, and I told him,
I could only come up with $100.00, and that would seriously be all the money I have in the world, if he is messing with me, I will be in trouble. No, no he told me, this is all you will need, for you and we understand the urgency of your need we will take only the $100.00. I purchased the Green Dot Money Pak, and called him with the card number and was told I should have a transfer of the loan amount into my checking account within 15-20 minutes after they verified the funds on the card. Well never the less, he had me wait online, and I waited and I waited and he said they were having trouble, and asked if he could call me back. Approx. 30 minutes later he told me,
my credit score was too low that I would have to go get another Green Dot Money Pak for $498.00 and once I do that my loan will be transferred in 15 min. I told him, I would not be able to come up with that kind do money, just cancel the process, send me the $100.00 back. He told me I can not have my money back just come up with the $498 and we can be all done. I told him, I can not come up with that money, just cancel the loan application, and he said then you can not have your $100.00, and he hung up on me. He then had some of his people call me a dozen times or so asking when could I come up with the funds, and I finally stopped answering the phone.
1 Updates & Rebuttals
FloridaNative
Palm Beach Gardens,Florida,
This is the Advance Fee Loan Scam and has been around for a long time.
#2Consumer Comment
Tue, July 15, 2014
It doesn't matter what the name of the company is that scammed you. The names are fake - or the scammer has taken the name of a legitimate company and used it to deceive you. The names of the scammers are fake too.
This is called the Advance Fee Loan Scam and the moment the person asks you to get a reloadable card (of any type) or send money Western Union, then you know it is a scam. Don't send money to strangers for a loan. That is not how it works. Educate youself.
Go to the FTC(dot)gov website and read up on the consumer scams. It works just like you described in the three reports you have filed.
File a police report. It is doubtful they will be able to help you, but at least you will have the report on record.
You will probably get calls now from fake collection companies claiming you owe the money back from the "loans" that you received. This is also a scam: the Payday Loan Collection Scam. You can read about this scam as well as at FTC(dot)gov.
Once you have fallen for one of these scams, the scammers keep calling you until you run out of money. Or you hang up on them.
