ITT Financial Complaint - Scam - Didn'T Fulfill Their End Of The Contract

Review by tuttie on 2007-08-01
LEXINGTON, KENTUCKY -- I applied for a loan on the computer, and this company called me with an approval,they approved me by saying I would have to have a cosigner, collateral or insurance. I came up with the insurance money of $692.00 Sent it off to them, received my contract first signed everything, money was suppose to be deposited into my bank account the next day. Well this did not happen, the representative said the lender wanted more money done, this was for a $5,000 loan, no I'm not sending anymore money send me my money back, the representative said it will take 30 days for my refund as it stated on this contract. I have been waiting now since June 11th it is now august I've spoke with the representative, she is always going to call me back and she never do. Supposedly I have spoke with the supervisor and she has told me the same thing and I have still not received my refund, this company is suppose to be in Lexington KY.
Comments:4 Replies - Latest reply on 2007-08-01
Posted by Hugh_Jorgen on 2007-08-01:
Google "advance fee loan scams". I'm afraid you have been a victim of this - you need to act NOW if you have any hope of recovering your money. Call your state department of consumer affairs, the state attorney general - anyone that might be able to bring pressure to bear on these folks. Good luck.
Posted by Anonymous on 2007-08-01:
Here's a link an FTC article.

http://www.ftc.gov/bcp/conline/pubs/tmarkg/loans.shtm
Posted by MRM on 2007-08-01:
Just curious: why couldnt you use a credit card?
Posted by FoggyOne on 2007-08-01:
Why would anyone pay over 13% of a loan amount just to get the loan? Even if it were legtimate, out of the $5,000, the $692 they would be loaning you is your own money! Unfortunately, this happens to the people who can usually least afford it.

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