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I went online to get a loan and somehow got to Spring Financial.
They talked really fast and I signed online to get a loan for $2300.00
They said I should increase my credit rating and got to another person.
They said that a loan for $2300.00 would cost $550.00 for a set up fee.
The next day I called expecting the amount of $1750.00 in my account and they said that I am paying the $104.55 per mth for the next 3 years and then I will get the $1750.00.
I was floored and checked it again. Then I did the math and I would have to pay a total of $4313.80 to get my $1750.00 after 3 years.
I called them and said to cancel it...It's totally unexceptable and they said they cant unless I pay $2300.00.
They should have a buyers remorse for the next couple of days. This is CRAP!
I can't get out of this and I don't want it...IT IS SUCH A SCAM!
I have put a stop payment at the bank...but I don't know under what name it is coming out because I have emails from them with 3 different names.
I don't want to pay $12.50 a mth to stop payments and don't know what to do to get our of this! HELP!
My name is Ineke and my phone number is [protected]
I am literally in the exact same situation right now. I applied through Fresh Start Finance, they transferred me to another representative after telling me I was approved for a $2300 but when he answered he identified himself as "Alex, a credit advisor from Canada Drives". I asked what happened to Fresh Start and he said they're affiliated with one another.
Alex spoke very, very quickly. He said I would be receiving a $2300 but that after a $550 service fee, I would have $1750 deposited into my account. I asked for some time to read over the contract and said that I would call back. He proceeded to belittle me and say that anyone could read this contract over in less than 10 minutes and that I could do it after. He said multiple times while I was trying to skim through the contract, "Just sign here by clicking the yellow box in DocuSign", trying to rush me through it so I would not be able to grasp the details. He also used scare tactics to tell me that if I end the call with him now, it would only negatively affect my credit, and then he assured me that he would go over the details with me. I agreed to have him walk me through it but he continued speaking very quickly. In the end, I felt he had delivered the necessary information to me so I signed the paperwork. Then I started receiving emails and texts from both "Spring Financial" and "Trans Global Insurance". None of this information about me moving around to different companies was ever conveyed to me. I would just be transferred over or receive information from another company randomly.
The next morning I wanted to add them as a payee to my online banking and asked them what information I would need for that. They told me that they would be debiting it from my account bi-weekly for the next 3 years. I then asked when I would be receiving the $1750, and the lady told me that the principal amount of $2300 was being "held in trust" as a "secured loan" because I did not have good enough credit to be approved for a personal loan. When I had spoken with Alex the day before, he told me that I had good credit, but that I just didn't have enough and led me to believe without using the proper terminology that I was, in fact, receiving a personal loan and not a secured one.
I asked to cancel the loan and they told me the same thing they told you, that I would have to pay them $2300 in order to get this loan closed out. At this point, I do not believe that if I pay them the $2300 they would even follow through with paying me back the $1750 because I was misled into getting the loan in the first place. I have spoken to two different people in the meantime and they have said the same things. That I cannot cancel the contract with them unless I pay the principal amount. I calculated what this will cost me over the 3 years and it is around the same, roughly $4200 in order to receive $1750 back to "help" build my credit.
They told me they often see buyers remorse and that it was understandable why I am upset about it.
I called my bank and put a stop payment on my account. They charge a one time fee of $12.50 to do this, not multiple fees. Double check with your bank about this and make sure that it's not the same. Also, file a complaint with the BBB. They have an online form you can submit, however calling them would probably be better. I plan to call them on Monday morning. They sometimes resolve people issues through arbitration. BBB will send the information to Fresh Start/Canada Drives/Spring Financial/Trans Global Insurance and ensure that they see the complaint, give them a chance to respond within 2 weeks of the issuance of the complaint and then take further action depending on the result.
I am sorry you fell for this, as I did. It SUCKS. I wish I could get out of it, but looks like this is going to sit on my credit score because they said it will go to collections.
You mother [censored]ers steal money from my account there a lawsuit on the way I don't even know you mother [censored]ers you mother [censored]ers are thiefs
The reviews are terrible this is scary I thought this was a better company
Today Spring Financial Calls again.
After emailing until I can pay this back.
Giving me sometime. Delays from other Bank to pay this of completely. Also a Cease and Desist email was sent out.
I have been waiting 3 weeks for a answer why is this the way you run your business
I have been waiting 3 weeks for a answer about my loan what kind of business is this I hope to have and a answer soon either yes or no
I wanted to pay off my loan early had like 2 payments left tries calling and emailing no answer or reply back . This company is bad business. Scam for sure they won’t pick up or email back .
I have been making payments bi-weekly and I am requesting a full refund.
Deductions of 54.41$ every 2 weeks are made from my bank account .
my account keeps going in overdraft every time you take money out and I can't get in touch with anyone