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Hi,

I just got approved from this company for a loan at a 2% interest rate for a loan of 15000.00 which would help me and my family a lot due to the fact we are relocating. Has anyone heard about them.

Amber




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?

Sub: #21 posted on Wed, 02/27/2008 - 15:16

volleyballmom volleyballmom

(Posts: 4143 | Credits: )

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.

Sub: #22 posted on Wed, 02/27/2008 - 15:21

amberreyes1979 amberreyes1979

(Posts: 38 | Credits: )

$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.

Sub: #23 posted on Wed, 02/27/2008 - 15:38

volleyballmom volleyballmom

(Posts: 4143 | Credits: )

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.

Sub: #24 posted on Wed, 02/27/2008 - 15:43

amberreyes1979 amberreyes1979

(Posts: 38 | Credits: )

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!

Sub: #25 posted on Wed, 02/27/2008 - 15:47

volleyballmom volleyballmom

(Posts: 4143 | Credits: )

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!

Sub: #26 posted on Wed, 02/27/2008 - 23:59

socksfullofrocks socksfullofrocks

(Posts: 488 | Credits: )

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 ...

Sub: #27 posted on Tue, 03/04/2008 - 08:50

Unregistered


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.

Sub: #28 posted on Tue, 03/04/2008 - 09:00

paulmergel paulmergel
Moderators Cum Industry Expert
(Posts: 15514 | Credits: )

[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]

Sub: #29 posted on Wed, 03/12/2008 - 09:03

Unregistered


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

Sub: #30 posted on Thu, 09/04/2008 - 06:09

Unregistered



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