Internet's first get-out-of-debt community - 128,000 members

dra1266

Has anyone heard of or know anything about Alliance Funding Corporation? I was wondering because their webiste sounds too similiar to alot of other companies that I have seen posted here. I have been pre-approved for a $3000 loan and am waiting for a phone call from them to see what their catch is - such as "insurance" to guarantee the loan. Just wondering if anyone has heard of them and if we should add them to the list of scam companies.

Posted: Wed Nov 23, 2005 3:41 pm Subject:

Are they located in Atlanta, Georgia?

Guest · Posted: Wed Nov 23, 2005 3:54 pm Subject:

Actually, I just found out myself on their website. They should have changed their email address on their website. This is actually Ace America doing business under a new name. It states they are out of Dallas, Texas. The name on the website is Alliance Funding Corporation but if you go to their Loan Terms page, all the documentation states Ace America Loans. So, I say we add them to the list.

Posted: Wed Nov 23, 2005 7:32 pm Subject:

Thanks for the info dra1266!! It is nice when we can catch these companies and warn others before its too late.

Teia Felder · Posted: Wed Nov 30, 2005 2:01 pm Subject: Alliance Funding Corp.

Actually I was also approved for $9,000.00 They sent me loan papers and everything but the lender on the papers says IPC, Inc. They were notarized and everything. Please tell me they are not a scam I have given them money for disablily insurance and everything. They said I should get the funds in 5-7 days. I ups'd my docs to them and when it was delivered it said it was delivered to the front desk. Actually I have been speaking with a rep on a day to day basis. When i email her she responds to me so i really hope this isnt a scam becuase ive really been hoping for this money.

Posted: Wed Nov 30, 2005 2:27 pm Subject:

I am in doubt and thinking why will there be a change in the name of the lender. Although, Alliance Funding has been considered to be a scam, but I really pray that you get the money deposited in your account. Please do let us know about it when the money is deposited in your account after few days.

Nathan · Posted: Wed Nov 30, 2005 4:08 pm Subject: Alliance Funding Corporation

I have had a similar experience. Alliance Funding offered me an installment loan from $3000 to $9000 and I chose a $5000 loan. They are clever: the documents look official, including a sworn affidavit that must be notarized and a refund policy. But there are several red flags as well such as money order required rather than certified check (although they refuse a USPS money order because they supposedly received several counterfeits), a 14-day window of opportunity as if the "Lender" will disappear after that time, etc. I am still awaiting my loan proceeds which I seriously doubt I will receive. Is the woman you communicated with named Susan Miller?

Teia Felder · Posted: Wed Nov 30, 2005 5:15 pm Subject: Alliance Funding Corporation

I have really put myself in a bad situation. I am now 3 months behind as of today on my mortgage. Yes her name is susan miller. i really feel stupid. I don't know what i am going to do. This is my first home and i do not want to lose it. Nathan, How long ago did you do your loan? they told me 5-7 days for processing and delivery. Does anyone know of what i can do?? Any programs?? Will a debt consolidation help me get back on my feet and not lose my home? Please anyone with suggestions please let me know. I need about 2000.00 to pay my mortgage and then they(mortgage company) will let me catch up the rest.Any thing you can think of will help. I just need to get back on my feet.

Posted: Wed Nov 30, 2005 5:39 pm Subject:

Teia

Consolidation program will help you with all the unsecured debts. Secured debts cannot be put in this program. Talk to your lenders and inform them that you are going through hard times at present. Try to arrange for a payment plan and assure them that you will pay more when the financial situation improves.

Most of the lenders offer easy repayment options during such times. You need to talk to them first and arrange for a payment plan. Just keep in mind that your negotiation will help you in retaining your home.

Do not approach any loan company without doing proper researches. Alliance funding has scammed a lot of people by taking money upfront. If you fall in the wrong hands while approaching for a loan, your total debt amount will increase rather than decreasing.

Teia · Posted: Wed Nov 30, 2005 6:14 pm Subject: Alliance

Ben
Is your mortgage considered unsedured debt?

Melisa · Posted: Thu Dec 01, 2005 10:36 am Subject: Alliance Funding

Teia

Did you ever get your money from Alliance Funding?

Posted: Thu Dec 01, 2005 2:00 pm Subject:

Teia

Mortgages are considered to be secured debts as some property is kept as collateral against the loan. Therefore, they cannot be put in the consolidation program.

Teia Felder · Posted: Thu Dec 01, 2005 2:10 pm Subject: Alliance Funding Corp.

I did not get my money. I reported them to the FTC today. They told me to call the Georgia Consumer Protection Agency to try to get my money back. I called my mortgage company to see if it was something i could do. They told me the only thing know go through a loss mitigation program and they can redo my loan. The only thing is ive done that before and they denied it, my credit is so poor and i don't know what to do know. Does anyone know of any Smaritans program or any other hardship programs I can do? I have to now come up with $2050.00 to pay the two mnths on my mortgage. I cant loan from any friends,they don't even have homes themselves. Any suggestions???? Anything will help now.

Ben- I did sign up for credit counseling yesterday. I am waiting on someone to contact me.

Posted: Thu Dec 01, 2005 2:23 pm Subject:

Hi Teia

Welcome to the forums.

Since you have a poor credit, you might be going through tough times in acquiring new credit. At this point, it is very necessary to concentrate on raising your three digit credit score since it is an most important factor to analyze your financial worthiness.

Try to get a second job so that you have some additional income that can be contributed towards the mortgage payment. Once you make regular payments, your credit scores will start improving and you will be able to renew your financial worthiness.

The lenders will extend any credit to you based on these three digit scores because they will evaluate the following avenues:

Your payment history is analyzed.
The amount that you owe is taken into consideration.
Length of your credit history is determined.
They look out for the types of credit that you have used so far.
They will look into your new credit.

Please use the following tips to improve your credit score.

Check for incorrect entries - It is mandatory to check your credit report for any mistakes from all the three credit reporting agencies. You can review your report for at least once in a year as well as several months before you apply for a loan.

Timely payments It will be considered a very good practice if you always pay your bills on time. Your prompt payments will put you in a much comfortable position before you apply for a loan. This point is emphasized because a late or missed payment just before applying for a loan lowers the credit score and has worse impact than a missed payment five years ago.

Bring credit balance to the minimum - It is always beneficial to reduce the credit card balances as much as possible. The FICO scores get affected due to how much money you owe on some cards relative to your total credit limit. Credit scores are seen improving if the balances are kept below 25% of the credit card limit.

Don't linger your payments It is suggested not to increase the ratio by closing an account and transferring the remaining balance to another account since the ratio of the credit card balance is linked to the credit limit. Doing this will lower the credit score which should not be generally done while you are on your way to increase your credit score.

Unused accounts to be kept active - While you are applying for a loan, it is suggested not to close any unused account. At the same time, it is suggested not to open a new account also during that time. It is said because if you are having a short credit history or less number of accounts, the credit score gets lowered when a new account is opened as there is no proven track record of it.

Regards
Roxette

Posted: Thu Dec 01, 2005 2:36 pm Subject:

Don't feel bad. I was scammed in August by CreditOne Financial and her name was Susan Miller. They took about $830 from me. I was told my everyone to kiss my money goodbye. I notified Wisconsin Attorney General, Canadian Authorities, etc. These people need to be stopped, they just keep changing their name. They had me send my via moneygram to a Canadian address. Yeah how stupid was I?

Teia Felder · Posted: Fri Dec 02, 2005 7:37 am Subject:

Last night i sent Susan Miller a nasty little message and she emailed me this morning saying my loan has been processed and is ready to be sent and also sorry for the inconvenience. I told he/she i want my money back and I want it back today. I said just as fast as i sent them my money she can send me my money. Whomever this Susan Miller is I am going to make sure they are prosecuted.

*Name:
*Email:
*Phone:
*Zip:
Debt

	* denotes required field

Internet's first get-out-of-debt community - 128,000 members

Anyone heard of Alliance Funding Corporation?

Members Area

Free Debt Counseling

Ask the community

Community Photos

Featured Discussions

Featured Articles

Question of the Month

Also See

Recent Forum Discussions

Recent Blog Post