[X]
Feedburner count

In Honor of Our Troops (IHOOT)


1 Reviews & Complaints

Bad loan
Posted by Dany15 on 02/03/2010
LAUREL, MARYLAND -- There is an organization name IHOOT, what they do is assist troops after war with housing, phones, jobs, seeing eye dogs etc.. Basically they offer free services to all troops, in particular disabled ones. They also have fundraising events and activities in order to get the troops together, show them a good time and allow them to network with others in the military and elsewhere.

In July 2009 there was a Tigers Woods golf tournament at the Congressional Country Club in Maryland. For the tournament IHOOT needed funds in order to rent one of the skyboxes so that again the troops could come network, eat, drink and be merry. They could not raise the funds to rent the box so they solicited loans from others.

I loaned IHOOT and [snip], the principal $65,000,with interest to rent the box. The funds were due on October 1, 2009.

Long story short they reneged on the loan, here we are in February and I still have not received any funds.

I thought I was doing a very honorable thing by loaning the funds. I was at the event and met a number of disabled vets that seemed very appreciative for the event. It truly is a shame that this foundation, IHOOT has used the vets and military in such a disrespectful manner. I truly will not help military personnel again in the future, because you just don't know if the money is used for legitimate purposes.
     
Read 4 RepliesAdd reply

User Replies:Close comments

Posted by goduke on 2010-02-03:
Maybe you could just write it as a charitable donation and take it off your taxes? Not sure what the other options are.
Posted by Slimjim on 2010-02-03:
Wait, you wrote "I was at the event and met a number of disabled vets that seemed very appreciative for the event--" but then finish with .."It truly is a shame that this foundation, IHOOT has used the vets and military in such a disrespectful manner. I truly will not help military personnel again in the future, because you just don't know if the money is used for legitimate purposes."
By your own admission, you saw it used for the purpose it was solicated for. I fail to see how this incident directly correlates to helping military personal in any other capacity, nor how they were disrespected by IHOOT.
You have a fair complaint, abet twisting it a bit to sound like a helping hand when you were getting interest back on your loan. The only one it sounds like IHOOT screwed was you. It appears their intentions were good and now can't come up with the repayment money. I agree you should share this story to alert others this organization may stiff you on a loan, but I think putting in the transparent spins took away from your complaint.
Posted by PepperElf on 2010-02-03:
I would say don't screw over military personnel for someone else's scam.

if you truly want to assist someone in the military I suggest you contact the local base - perhaps the chaplain's office - for more information on supporting the troops.

any TRUE donation campaign will have no trouble with telling you exactly where the money goes.
Posted by Anonymous on 2010-02-03:
I agree with goduke consult your tax guy to see what can be salvaged.

They say it's easy to let your guard down when you feel it's a noble cause but I wouldn't know because when it comes to money I always abide by MRM's warning, 'TRUST NO ONE'. I don't care if Jesus Christ himself was seeking a loan I'd have to say sorry King of Kings but without some collateral or concrete assurance repayment will be made I simply have to say 'No'. My children can attest to that.

Really doesn't matter the cause, the circumstance or the plead because in the end this is simply a case of the OP making a really risky loan then getting burned. That sucks but it happens.
Close commentsAdd reply


Top of Page | Next Page >