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I think I have been SCAMMED by Silverspring Lending Services also. I stupidly signed up for a loan with them, sent $1500 up front like these other guys did (that I read about on your website) and my story sounds IDENTICAL to theirs. They told me that they would give me a loan through one of their lenders, but because I was a high risk candidate that I would have to pay $1500 in advance. I was told that my $1500 would go towards the loan as the 1st 6 months payments & I wouldn't have to send them anything else until May 2010. They assured me that as soon as I sent the $1500, that the $10,000 loan amount would be deposited into my account by 5pm the next day. This was last Friday, 10/27/09. Well, no deposit showed up so then someone from their accounting dept said their insurance company stopped the loan process because I'm high risk due to my "not so good" credit history & told me I now have to send ANOTHER $1000 before they will give me my $10,000 loan. Well, that is what they advertise to begin with!!!!!!!!!!!! - that they give loans to people like me with bad credit history. So now I'm scared to death. I sent them my entire paycheck, can't scramble up another $1000 & don't know if they will honestly refund my money back. I couldn't find this company registered with the Better Business Bureau and when I googled them before I sent my money, nothing bad showed up. Then of course, AFTER I sent them my $1500 someone posted a "rip-off" report on Google on 10/26/09. I don't know what I should do now, do I borrow $1000 from my handicapped father & send that to them? Or do I just ask for my initial $1500 back? If I send them another $1000, who's to say they won't do the same thing and say, you need to send more money again. I think I just learned a huge lesson and I may not see a dime but I believe in carma & I'll just put this in God's hands now . If this Silverspring Lending Company ends up ripping me off, I'll list them as a rip-off anywhere I can online to hopefully stop other poor people like me before they lose their hard earned money. It's a shame.
Thanks for your helpful inffo JTRU. The problem is, I signed a 4 page faxed contract from this lending company & my husband called & asked them how are we guaranteed the $10,000 loan if & once we send another $1000? Meaning - what if they say that yet AGAIN? Oh now we only need a 3rd payment from you then we will send your loan amont. Their accounting mgr assured my husband that they can only ask once for another payment & said it's all listed on the contract. We thoroughly read the contract & sure enough it reads, " The lender reserves the right to request additional security coverage or additional collateral payments pending an independent assessment of borrower information, if security provided by borrower is denied assessment, a refund will take place coinciding with the monthly billing cycle of the lender. Do you have any suggestions about this? Thanks for your help and advise.
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