Internet's first get-out-of-debt community - 136,000 members

I was offered a loan for the amount of 5000 dollars at
7 percent interest with payments of 119per month.The downside is they want 900 for colateral which would cover my payments until next Feb. Is this a good deal?this would payoff all my payday loans and the 119 month payment would be a breeze.What do you think.

How long would the $119 per month be for?

Posted: Wed Aug 03, 2005 3:08 pm Subject:

Hi twokidtwocat

Welcome to the forums. Always remember that you will be saving some extra amount of your hard earned if the length of the loan program is kept shorter.

Though you can make your monthly payments at a minimum, but it will increase the tenure of the loan which will involve some extra amount of the money on that loan.

So, I suggest you to concentrate on a shorter period rather than opting for longer durations.

Regards
Roxette

Posted: Fri Aug 05, 2005 12:46 am Subject: Could this be a scam

The loan is for 4 years.But first I must send them the $969 which will cover my payments until Feb 2006 and will be applied to the loan after 1 year of good payments.They want me to fax them back to loan papers and send the $969 by western union.The company is primetime1.net or primetime lending.Is this to good to be true.Have you ever heard of this company.The papers they faxed me looked legit but Im worried about sending them my entire paycheck and getting nothing in return.Thanks for your reply in advance.

Posted: Mon Aug 08, 2005 5:02 am Subject:

Make sure you're in a position to hold a loan for 4 years. If you truly think it will help you, and it isn't a scam, go for it....but if you know you won't be able to make the payments and such, don't do it. There are other alternatives for short term financial help. And lastly...be careful....I was contacted by a company like that and I concluded that if I HAD done it, I would've been paying MUCH more than $5000 plus interest.

Posted: Mon Aug 08, 2005 4:25 pm Subject:

Hi twokidtwocat

I will suggest you to get every point relating to the loan in the agreement. Make sure that there are no hidden costs and facts which have not been disclosed in the agreement. Everything should be written first. After signing, if it was not written in the agreement, it should not be considered as valid. This should be your approach when you sign the agreement.

Consider all the negative things first which results in a query and get that answered before you sign the loan agreement. Once you have signed the loan, make sure that there should no point from the company which you were not aware of when you signed the loan agreement.

Regards
Roxette

Guest · Posted: Wed Aug 10, 2005 6:46 am Subject:

DON'T DO IT!!!!! I did and then i never received my money they said they needed 600 and something in brokerage fees first. Even though that was not on the paperwork so I never recieved my money or the money I've sent them. DON'T DO IT!!!!!!!

mscdouglas · Posted: Thu Aug 11, 2005 12:18 am Subject: PrimeTime Lending

I see this last post and my heart just sank because I already sent the Western Union payment. I called them before I sent it asking about the Consumer Fraud Alert and they said that it doesn't apply to secured loans like they do. I haven't seen my money and they assured me it would be in my account in 3 hours. My loan "agent" told me to call him as soon as I receive the money. I've been researching online and can't find anything about them outside of their website. I've only found ad after ad after ad. So I know I'm screwed, and plan to take the time to personally go through the hundreds of sites I found and let them know what kind of company they are.

Posted: Thu Aug 11, 2005 5:10 pm Subject:

Mscdouglas - There are many more consumers who have not given a positive feedback about PrimeTime Lending. So, I think it will help the community members before making any decision with this company.

twokidtwocat@hotmail.com · Posted: Thu Aug 11, 2005 6:54 pm Subject: Primetime

Im sorry to hear that you got scamed.I was offered $5000 for $969 down but I told them it would be a week before I could send the money.During that week I did lots of research and I joined this board.I did not send the money,I just had a funny feeling about this being to good to be true.I tried to verify the address and came up with nothing,I call them and they said that it was a new listing.I am stuggling to feed my kids just because I was stupid and took out to many payday loans.The sad thing is I make enough money to pay my bills with a little extra left,but the payday loans take it all and now I am unable to pay my normal bills.My car had broke down and needed $500 in repair and I took my first payday loan out to cover the cost and then it just went downhill from there,I now have 4 payday loans that I keep renewing each payday because I cant pay them off.Primetime Lending gave me hope for the first time in a long time.If it wasnt for this board I dont know what I would have done.I hope no one else falls for this scam.If I had sent the money I would not have been able to pay my rent this month and then my children would have been homeless.Thanks again to everyone on this board.You saved my life.

Posted: Thu Aug 11, 2005 7:02 pm Subject: sorry about double post

I didnt realize that I wasnt logged in.sorry for double post.

Posted: Fri Aug 12, 2005 2:11 pm Subject:

Hi twokidtwocat

It's nice to see you doing some community help on this board in your every visit. It is you who started enquiring about Primetime Lending and ended with not making any business deal with them. Many of the community members have posted their comments about this comments which gives a negative impression about the said company.

We appreciate your regular posting in the forums and hope to see you often with more help for the community.

Regards
Roxette

mandi_f · Posted: Sun Sep 11, 2005 5:55 pm Subject:

This sounds a lot like Allied Mutual Brokers. Someone should check into it. I will try to.

mandi_f · Posted: Sun Sep 11, 2005 6:04 pm Subject:

Does this "lender" have a website??

Posted: Sun Sep 11, 2005 6:29 pm Subject: twokidowcat

be careful with those loan things,most of them are scams and have you considered if you give those people the money you could be out of 900 dollars cause if you read Rhonda's story she was scammed by company and they wanted the same thing money up front. I think you should try to look these people up first and then see what you find and then make your decision from there! Good Luck!

mandi_f · Posted: Sun Sep 11, 2005 6:42 pm Subject:

They're all scams. Bottom line, if you can't get a loan from the bank....you can't get a loan. I have learned that the hard way. Never trust something you don't know. It is illegal for them to ask for money upfront. Learn from my mistake!!!

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