by sharyvette
Tue Sep 22, 2009 12:31 pm
Hello,
I recently applied for a personal loan with Ayudar Lending Group who states that they specializes with loans for individuals with bad credit. I received a call stating I was approved for a $5000 loan however due to the high risk I would have to put down $800 which would represent the first 6 months of payments. I was told to wire the funds which I did (should have been alarmed there) and after wiring the funds I receive a call later stating that because I'm considered "high risk" that I would have to purchase insurance (mind you I was initially told that the insurance was incorporated into the payments). I immediately became skeptical & asked for my $800 back & was told it would take 30 days to return. I search Ayudar Lending Group on the BBB & found that they weren't accrediated however there also weren't any customer complaints. I spoke with the representative again & asked if once I paid the additional $750 for the insurance if this would be refunded back to me which she stated at the end of the loan. She also became very offended when I suggested to her that I had done some research these types of loans. I asked to get everything in writing before sending the "insurance" money which I had to borrow from a family memeber. My question is has anyone dealt with this company before & does this sound like a scam.
I recently applied for a personal loan with Ayudar Lending Group who states that they specializes with loans for individuals with bad credit. I received a call stating I was approved for a $5000 loan however due to the high risk I would have to put down $800 which would represent the first 6 months of payments. I was told to wire the funds which I did (should have been alarmed there) and after wiring the funds I receive a call later stating that because I'm considered "high risk" that I would have to purchase insurance (mind you I was initially told that the insurance was incorporated into the payments). I immediately became skeptical & asked for my $800 back & was told it would take 30 days to return. I search Ayudar Lending Group on the BBB & found that they weren't accrediated however there also weren't any customer complaints. I spoke with the representative again & asked if once I paid the additional $750 for the insurance if this would be refunded back to me which she stated at the end of the loan. She also became very offended when I suggested to her that I had done some research these types of loans. I asked to get everything in writing before sending the "insurance" money which I had to borrow from a family memeber. My question is has anyone dealt with this company before & does this sound like a scam.
