Fast Cash, Advance Fee Loan Scam
My Complaint: On July 28th, 2013 I filled out an application form for a personal loan online.
The following day I started getting calls from different “money lenders” in regards to the loan application. One business called them-self “Fast Cash” and they stated that we could qualify for a loan of $18,000. at 12% interest over a 36 month period. Repayment of the loan would be in monthly installments of $560.00 per month over 36 months.
They then stated that in order for them to check if we owed the IRS anything, We would have to go purchase a “Greendot payment Voucher” and supply them with that information to prove that we could make our monthly payments.
As it is understood that it is illegal to “purchase credit” and it is illegal for someone to promise a loan, but ask for payment before we could access the loan amount, I thought it best to make a complaint to you in regards to this. I did not pay them anything, and I do not intend to do so, since this screams of a fraud.
Phone number used: 408-514-9318
Sales people: Dave Lawrence and Chris Bennett
My Demand: Stop doing Illegal loans