Eastmount Financial Group Informative - Never Received Refund From Collateral

Review by carola on 2007-04-20
NASHVILLE, TENNESSEE -- I was told monies would be refunded when I was declined a loan from one of their lenders. It was not deposited and when I tried to reach them by phone I got no answer during business hours?
Comments:4 Replies - Latest reply on 2007-04-20
Posted by poppapia on 2007-04-20:
Did you pay up front for a loan? If so, as you may well be aware, you shouldn't have, and you are probably out any money you sent them.
Posted by nino123 on 2007-04-20:
The same thing happened to me. I am supposed to be receiving a refund today and cannot reach anyone. I have called, paged and emailed. Any suggestions on what to do next??? I have a receipt and everything from them. I am really freaking out.
Posted by nino123 on 2007-04-20:
To poppapia- I was told, probably like Carole, that it was considered collateral. I have the paperwork so how could they just not refund my money? I even have a receipt from them saying that I would be getting a refund.
Posted by tnchuck100 on 2007-04-20:
You have been scammed. No legitimate loan company ever charges money up front.

Nino123: Collateral is something of value that can be confiscated in the event you default on a loan. It is not cash.

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