FINANCIAL ALLIANCE CORP

I did a search thru the forum and could not come up with anything.
Did they ask that you send them any up front money?
If so do not do it, it is a scam. Ant loan that asks for money is a scam.

They didnt ask for anything up front they gave me three options the first was collateral like a car payed off or a house the second was a co-signer and the third was a deposit that i get paid back in complete as long as I make the first seven payments on time.

This is a copy of the email that I recieved and I have talked to them since. They are very good at calling me back and answering my emails.

FINANCIAL ALLIANCE CORP.
5424 CARVILLE
BALTIMORE/MD
SUITE 201
21227
1-866-379-4660-0
CONGRATULATIONS!

Dear: Mr./Mrs./Ms. Amber Reyes , this letter is to inform you, that your loan application for the amount of 15.000.00 , has been approved. You may contact us toll-free at 1-866-379-4660-0 to receive your terms. Thank you. Financial Alliance inc

Asking for a deposit is like asking for up front money. Where did you find these people.

I was applying for loans yesterday to help with my relocating process and I received an email from them this morning. I just emailed them again to send me some more information about their company and the loan process.

Very good idea. Lets see what they have to say.

just beware.of course they are going to be responsive now.i am willng to go out on a limb and say,once they receive your collateral they will vanish.just be wary my friend.

Okay well they seem legit. Here is their website http://www.fallianceco.com/ and I checked the bbb reports and they have no complaints in the last 36 months.

Did the application ask you for your banking info.
I still am leary of this.

quckley went to sight on her post.nothing asking for bank info,but nothing asking for collateral either.
i too am skeptical.

No they didnt ask for any banking information.

Paul, I have to agree

im really not sure what to do. This loan will be a saving point for us at this time.

Unfortunately, I am jaded to taking out loans on the internet. It could also be your downfall. I personally would not do it. I think you still need more info. How do you repay this loan? Is it an installment loan? What bank is it backed by?

Amber...of the three options they gave you, which one are you considering?

Kash-Its an installment loan and from the looks of the websire, they seem to be a "broker" so hard to say who the investor will be.

So they are looking for the best "funding" bank

It doesnt have to be a bank...it can also be private investors.

got ya

Well I dont have my car paid off and no house and I'm not going to ask anyone to co-sign for me so my only other option is to go with the deposit. Which I told them I dont have all of it and they said they will work with me and that as soon as the loan hits my bank that I have to send the rest of it.

i wish you would think about it for a couple of days.
i just think there is more than meets the eye.
could you pm me about how much this deposit is.
the reason being,i know someone who was a scam victim 2 years ago.i am just looking out for my peeps on the forum.so pm me that info.

Good advice from Paul....

Ameber-Have they sent you any of the official loan docs? any idea what the FINAL rate will be, your payments and the term?

No they haven't sent me the loan docs yet. They said the loan docs will come after they have depositied the money in my account. They told me that the way the process goes is they get the funding from the outside source whom ever that may be and it gets deposited into their account. When they get the collateral or deposit is when the money is transferred to my account and the docs are than sent out to me. They told me that my interest rate would be 2 percent and that my monthly payments would be 169.24. for 8 years.

$169.24 a month for 8 years is a total of $16,247.04..which is more like 8% ($1247.04)

2% would be just $300 on $15,000

It is $15,000 that you are wanting to borrow right?


Amber, I just dont know....I guess I am always leery of not seeing the legal documents until after the deal is done. That is a red flag for me.

yah i completely agree with you on that one. I asked about that multiple times and she said that the lender deposits the money that is already approved and than they send me the docs. I dont know I think Im just going to say screw that and go ask my boss for a loan for the move instead. Its just not worth getting taken on my hard earned money.

You have been great in opening your situation to our advice here :D And I know that the $$ is surely needed.

But depending on what it says in those documents, you could be in for a world of hurt if something happens and you cannot pay.


I hope your boss can help you...OR if you really want to push it, tell them no docs, no deal!

I agree with volley..
you need to see those docs before you agree to anything..
I hope this is a good thing for you..but it could be a very very bad thing if you sign and agree to something you were not aware of....
I had a friend who transferred all credit balances two years ago to one card..(almost $25,000)..paperwork she fell for was quote at a minimal interest rate with a very low payment..didn't read the fine line at bottom of letter and...she ended up having to refinance her house because payment she thought was going to be less than $300 a month quoted on the phone after reading what she thought was a great money saving deal...ended up being almost $700 a month in interest alone..(this was with a reputable well known company)...she read something that was originally offered to her..called company expecting what she had in letter was the real deal..transfered all balances without getting anything in writing..got her first statement..and about had a heart attack!!!!!
please get some guarantees in writing upfront before agreeing or signing anything!

Hi, I was recently approved by a loan also from them. for only 5000.00. I was kinda wondering myself and wanted to know if you ever got your loan from them and what happened? please let me know. i'm very skeptical myself and need information before doing this loan asap. thank you ...

you saw our thoughts.anybody who asks for upfront money,and won't give loan docs until after said money is given,is a scam do not do it.

[color=Red][size=6]FINANCIAL ALLIANCE CORP IS A SCAM!!! ANY LOAN THAT REQUIRES THAT PAY MONEY UP FRONT IS A SCAM!!!!
YOU WILL NOT GET THE LOAN, AND YOU WILL NOT GET YOUR MONEY BACK!!![/color][/size]

Not all companies that do business this way are scams...for instance, I received my funding from First Financial, and it seems they have almost the same program

i just read a storey on ripoffreport.com ref this company it seems all of there lenders are out of canada rip off city dont bother with this company for a loan

Are there any financial corporations that do lend money up to $10,000 that isn't a scam. I had a lending company called Calyx Financial Corp but cannot find out any information online if it is a scam or not. They are asking for me to give the 1st and last pmt and another $250 for a deposit as well. Cannot be found on BBB or any other scammer websites. What do you guys think and if you know a credible lender that is safe? Thanks

No. Any lender that demands a deposit before they give you a loan is a scam.

I agree. Please really think before you decide on doing this. It just does not make sense to have to give money to get money.

Do you guys recommend any lenders for someone w/ lower credit score that isn't scam?

You might try Prosper at www.Prosper.com . I understand that a credit score of at least 640 is needed. They may be able to help.