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| Deborah Allen Genuine Finance, Direct Financial & Insurance Services (the Insurer) 455 Ruby Street, Suite #100, Joliet, IL 60435 , John Taylor, Debora |
| 2nd of Dec, 2011 by User490366 |
Over a period of about a month I have been talking with a "Deborah Allen" @ Genuine Finance, in reference to a small
dollar loan ($5000.00), to pay off some credit cards I was forced to get when my husband had broken his leg at work earlier in the year. She called me, I called her, we sent a few e-mails back and forth, and she eventually sent me the contract via Adobe PDF. (attached) I asked her a couple of times if this was a scam (I know that's stupid, as if she's going to say YES, but at least she might hang up); I just wanted to see what her reaction/response was. She was good. Obviously she is born to be a con; yet another American Con-Artist. After a few weeks of me intensely doing research on these two companies to find out if they were legit, I could find nothing negative about them, but nothing positive either. Just that they existed and what the mission/goals of these companies were. On a basic google search for genuine finance, their website does come up as being legitimate, for-real Company. There are two different sites that profile them: 1. http://www.manta.com/c/mxcy4nq/genuine-finance
Genuine Finance 70 Hudson St 5th FL Hoboken, NJ 07030 map 888-896-6768 www.genuine-finance.com Richard Kelly, owner, updated this company profile on 10/25/2011 About Genuine Finance Established in 2005, Genuine Finance (GF) offers a broad range of commercial, business and personal finance solutions. Ads by Google 2. http://www.hotfrog.com/Companies/Genuine-Finance
Genuine Finance70 Hudson St 5th
FL, Hoboken, NJ 07030 p:
888-896-6768 http://www.genuine-finance.com Email
| Directions About
Genuine Finance Established in 2005, Genuine Finance (GF) offers a broad range of commercial, business and personal finance
solutions aiding borrowers with time critical, impaired credit history or out of the square finance requirements by providing short and medium term finance. Loans are customized for each situation and can range from $5,000 to $200,000 for personal loans and up to $50,000 for commercial, business and property development finance (1st mortgages only). Loan terms can range from one day for short term bridging finance up to 4 years for medium term loans. Genuine Finance provides a holistic service and if necessary may collaborate with or refer to external parties to provide suitable funding or finance solutions. Some guy’s personal opinion of the advertising website: [27048406] "In my opinion, a listing on Hotfrog is the ideal medium for a company of any size needing to promote its goods and services over the internet." Gary Bryant, Leicester, UK Because my husband and I had filed for bankruptcy in January of 2010, due to him being laid off; we either needed a co-signor or a collateral deposit of $596.00 (which according to the contract is to be insured by Direct Financial & Insurance Services 455 Ruby St Joliet, IL 60435. Hence; I decided to pay the $596.00 as insured collateral; as this loan was going to be used to pay off my existing credit card debt. I paid the monies and sent a copy of the receipt via MONEYPAK GREEN DOT. I know a lot of you are thinking, oh no……..it’s not traceable. Well, yes it is. I looked up the numbers on my cards and they were definitely paid to Genuine Finance in New Jersey. Deborah Allen of Genuine Finance also informed me they had started using the MONEYPAK cards; as they also had been victims of identity theft. I provided the numbers on Thursday, December 2, 2011 @ approximately 6:05 a.m. MST which is 8:05 EST. Deborah told me my funds should be credited by noon on Friday, which would have been 10:00 a.m. my time. It’s now 1:20 a.m. Saturday, December 03, 2011 and the funds have not been deposited into my bank.
I prayed and prayed this would not be a scam as someone had recently accessed my checking account and routing numbers; which caused A LOT of problems and I had to have that checking account closed and a new one opened. I was shaky scared, and sure enough, the way it’s looking….. the same thing is happening here. I have reported to the local police also and sent electronic copies of the contract, all of the e-mails, and the tons of
information I have saved regarding these two companies to the FTC, the BBB, my Senator & Congressman, and the Senators’ and Congressmen of Illinois and New Jersey. Do NOT do any kind of business with these two companies, they are indeed a scam and I have donated to ripoffreport.com to keep this site going for free and to help all of us honest hardworking individuals be aware and stay aware of the
so-called companies we can and cannot do business with. I’ll be back to update……..I don’t know what I could have done differently. I appreciate any ideas, comments or suggestions, if you’re going to just call me stupid or an idiot, no need to respond, as I realize that. I do have the contract in which I fulfilled
my part of the obligation, but they did not fulfill theirs. The following is the contract- 7 pages: (if there are typos, it's because I converted it to Word from PDF and edited names and account number)
BORROWER: Item 1
Name:
Address:
CONTRACT DATE: 11/16/2011
ACCOUNT: LENDER: Item 2
Genuine Finance
70 Hudson St 5th FL Hoboken, NJ 07030 1-888-896-6768 DISCLOSURES REQUIRED BY FEDERAL TRUTH-IN-LENDING ACT
Amount Financed
$5,000.00
Annual Interest Rate
6%
Total Monthly Payment
$117.43
Loan Term (In Months)
48 Payment Schedule: 1 Payment @ Due on the 5th of every month, starting 2 months after the effective date of the loan. PREPAYMENT: If you pay off early you will not have to pay a penalty, but may be entitles to a refund. See your contract documents for any additional information about non repayment, default, prepa yment refunds and penalties. Personal Loan Agreement THIS AGREEMENT is made on the date stipulated in Item 1
BETWEEN: The
party described in Item 1(“The
Borrowerâ€) AND: The
party described in Item 2(“The Lenderâ€) This Consumer Loan Agreement and Disclosure ("Agreement") governs your consumer loan plan ("Account") issued through The Genuine Finance,. In this Agreement the words "you," "your," and "yours" mean those who sign as Borrower(s) on
the Loan Agreement and the words "we," "us," and "our" mean the Lender. You agree, jointly and severally, to the following
terms and conditions and all other loan documents related to this Account including any Loan Advance Voucher, Loan Proceeds Check, and Power of Attorney, if applicable, given when a loan advance is made, which collectively shall govern this Account. Loan Repayment Terms BORROWER
shall make monthly payments of $117.43USD to LENDER beginning 60 days after the execution of this agreement and continuing, every month thereafter on the monthly anniversary date of the first payment, until the Maturity Date. As defined above, the Maturity Date is 48 months from the date of execution of this agreement by the parties. At the Maturity Date, BORROWER shall pay the LENDER the entire unpaid balance upon the Loan Amount principal and interest, if any. A total of 48
monthly payments are to be made by BORROWER to LENDER under this loan agreement. a)BORROWER may prepay the entire Loan Amount due LENDER (i.e. make payment prior to the time that is due) without penalty; however, only a prepayment of the entire Loan Amount is allowed under this agreement. b)If the LENDER gives written notice to BORROWER that a different address shall be used for making payments under this loan agreement. BORROWER shall use the new address so given by Lender. Repayment Options: We will debit your bank account automatically for the amount due on your loan. We will make the debit by either printing and cashing a check drawn on your bank account or using an electronic debit through an automated clearing house (ACH).
We may choose either method, at our discretion. You may also repay your loan in person at your bank, through your account number with our company, at any time on or before the due date. If you do not repay your loan in person prior to its due date, we will debit your account automatically as described above. By signing below, you appoint us as your attorney-in-fact for the limited purpose of creating, signing and presenting the check as described above. You grant us security interest
in your check. You agree to deposit in your personal checking account on or before the Loan due date an amount at least equal to the Total of payments shown above. Default:
The occurrence of any of the following events shall constitute a Default by the BORROWER
of the terms of this loan agreement and promissory note: 1.
Borrower’s failure to pay any amount due as principal or interest on the date required under this loan agreement 2.
Borrower seeks an order of relief under the Federal Bankruptcy laws 3. Borrower becomes insolvent 4.
A federal tax lien is filed against the assets of Borrower 5.
A money judgment is entered by any court against Borrower
Additional
Provisions Regarding Default Addressee and Address to which Lender is to give Borrower written notice of default: 1. If borrower gives written notice to Lender that a different address shall be used. Lender shall use that address for giving notice of default (or any other notice called for herein) to Borrower. 2. If Borrower gives written notice of Lender shall give Borrower written notice of default. Mailing of written notice by Lender of Borrower via U.S. Postal Service Certified Mail shall constitute prima facie evidence of delivery. Borrower shall have 15 days after receipt of written notice of default from Lender to cure said default.
In the case of default due solely to Borrower’s failure to make timely payment as called for in this loan agreement, Borrower may cure the default by making full payment of any principle and accrued interest (including interest on
these amounts) whose payment to Lender is overdue under the loan agreement and, also, the late-payment penalty described below. 3. Penalty for Late Payment. There shall also be imposed upon Borrower a 2% penalty for any late payment computed upon the amount of any principal and accrued interest whose payment to Lender is overdue under this loan agreement and for which Lender has delivered a notice of default to Borrower. For example, if the agreement calls for monthly payment of said amount. Borrower (after receipt of a default notice from Lender) shall be liable to Lender for a penalty of $10(i.e. $500x2%) and, to cure the Default, the borrower must pay to Lender the overdue loan amount of $500, interest upon the overdue loan amount, and a penalty of $10. 4. Acceleration.
If the Borrower fails to cure any defaults on or before the expiration of the fifteen (15) day cure period that starts on the date Borrower receives written notice from Lender that an event of default has occurred under this loan agreement, the entire unpaid principal, accrued interest, and penalties under this loan agreement shall accelerate and become due and payable immediately. 5. Indemnification of Attorneys Fees and out-of-pocket costs. Should any party Materially breach this agreement, the non-breaching party shall be indemnified by the breaching party for its reasonable attorney’s fees and out-of-pocket costs which in any way relate to, or were precipitated by, the breach of this agreement. The term “out-of-pocket costsâ€, as used herein, shall
not include lost profits. A default by Borrower which is not cured within 15 days after receiving a written notice of default from Lender constitutes a material breach of this agreement by Borrower. Parties that are not individuals: If any Party to this agreement is other than an individual (i.e., a corporation, a Limited Liability Company, a Partnership, or a Trust), said Party, and the individual signing on behalf of said Party, hereby represents a warrants that all steps and actions have been taken under the entity’s governing instruments to authorize the entry into this Loan Agreement. Breach of any representation contained in this paragraph is considered a material breach of the Loan Agreement. Integration:
This Agreement, including the attachments mentioned in the body as incorporated by reference, sets forth the entire agreement between the Parties with regard to the subject matter hereof. All prior agreements, representations and warranties, express or implied, oral or written, with respect to the subject matter hereof, are hereby superseded by this agreement. This is
an integrated agreement. Severability: In the event any provision of this Agreement is deemed to be void, invalid, or Unenforceable, that provision shall be severed from the remainder of this Agreement so as not to cause the invalidity or unenforceability of the remainder of this Agreement.
All remaining provision shall be deemed invalid due to its scope of breadth; such provision shall be deemed valid to the extent of the scope and breadth permitted by law. Modification: Except as otherwise provided in this document, this agreement may be modified, superseded, or voided only upon the written and signed agreement of the Parties. Further, the physical destruction or loss of this document shall not be construed as a modification or termination of the agreement contained herein. Exclusive Jurisdiction for Suit in Case of Breach:
The Parties, by entering into this agreement submit to jurisdiction in STATE OF CO for adjudication of any disputes and/or claims between the parties under this agreement.
Furthermore, the parties hereby agree that the courts of state of CO shall have exclusive jurisdiction over any disputes between the parties relative to this agreement, whether a said dispute sounds in contract, tort, or other areas of the law. State Law: This Agreement shall be interpreted under, and governed by, the laws of the state of CO Acknowledgement: By my/our signature below, I/we have received a copy of this form in its entirety before paying
any premium in connection with my/our loan, (2) certify that I/we have read the applicable disclosure agreement, including
the applicable state specific disclosures, (3) certify that I/we understand the content of this agreement, (4) certify that I/we have provided the requested information as applicable before signing. Borrower (1) Print Signature Date Borrower (2) Print Signature Date Genuine Finance 70 Hudson St 5th FL Hoboken, NJ 07030 www.Genuine-Finance.com 5 Secured Personal Loan Payment Protection Plan Policy Summary This document is a brief summary of the life and disability insurance provided in the Group Insurance Policy which is the governing document. Any variation between the information in this Certificate of Insurance and the Group Insurance Policy will be resolved by reference to the Group Insurance Policy. Addressee and Address to which Policy Issuer is to give Borrower written notice of insurance policy (YOUR FULL INSURANCE POLICY WILL BE MAILED TO THIS ADDRESS): In consideration of payment of $596.00 USD as the appropriate premium for : Standard Payment Protection, Direct Financial & Insurance Services (the Insurer) hereby certifies that according to the provisions of Group Policy _____(the Policy) issued to Genuine Finance, the Borrower (s) whose name(s) appear on the reverse is/are insured under this Policy. Option 1: Disability, Involuntary Unemployment The benefits available under this section of the policy are:
Disability - If you are disabled for 15 days or more through injury, sickness or disease, and f we will start to pay monthly benefits equal to your monthly repayment. We will pay for up to 12 months as long as you remain disabled.
You must have been in work continuously for at least 6 months immediately before you become disabled. Option 2: Life, Permanent and
Total Disability (as a result of Critical Illness), Disability and Involuntary Unemployment
The benefits available under this section of the policy are:
Life - If you die during the term of your policy, we will pay the outstanding balance of your loan, less any arrears over 3 months old. Permanent and Total Disability (as a result of a critical illness) - If you are diagnosed with one of the critical illnesses listed below and have to stop work permanently, we will pay the outstanding balance of your loan, less any arrears over
3 months old. The critical illnesses are cancer, coronary artery by-pass surgery, heart attack, kidney failure, major organ transplant, multiple sclerosis and stroke. These benefits are also provided for your spouse or partner if they are eligible (see above) and are a party to your finance agreement. Disability - If you are disabled for 15 days or more through injury, sickness or disease, we will start to pay monthly benefits equal to your monthly repayment. We will pay for up to 12 months as long as you remain disabled. You must have been in work continuously for at least 6 months immediately before you become disabled. Involuntary Unemployment - If you are unemployed for 30 days or more, we will start to pay monthly benefits equal to your monthly repayment. We will pay for up to 12 months as long as you remain unemployed. You must have been in work continuously for at least 6 months immediately before you become unemployed. Genuine Finance 70 Hudson St 5th FL Hoboken, NJ 07030 www.Genuine-Finance.com 6 When does my policy end? Your cover will end when the first of the following happens: • you die or we pay a critical illness benefit; • you reach the age of 70; • 7 years from the start date; • your loan agreement ends What am I NOT covered for under my Payment Protection Insurance? We will not pay benefits in certain circumstances. The main exclusions are set out here. There may be other exclusions which are significant to you, so you need to check the policy document for full details. Exclusion Applies to: Suicide or self inflicted injury - Life, Permanent and Total Disability and Disability Taking drugs or alcohol - Life, Permanent and Total Disability and Disability Pre-existing medical conditions - Life, Permanent and Total Disability and Disability Normal pregnancy - Permanent and Total Disability and Disability A critical illness that occurs within 60 days of the start of the policy - Permanent and Total Disability Psychotic or mental disorders and stress related conditions Unemployment Benefit Exclusions In addition, we will not pay benefits for unemployment if; • You were notified of it within 60 days of the start of your policy; • You knew about it or should reasonably have known about it at the start date; • It is the result of your misconduct or industrial action in which you were taking part or is voluntary; • It occurs at the end of a probationary period, or after temporary work; • Your fixed term contract ends (unless you have been continuously employed by the same employer for the last 2 years); • It happens while you are working abroad, or employed by your family company; • You refuse a reasonable alternative offer of employment by your employer Please note that if you are self employed you will not be able to claim benefit under the involuntary unemployment section of the policy unless your business is insolvent. Are there any limitations on my benefits? Description Limitation Further details in policy section; Maximum amount of life and critical illness benefits $ 5,000.00 The maximum monthly benefit for unemployment or disability $117.43 The maximum number of payments in total for all periods of disability 48 MONTHS (12 for back conditions) The maximum number of payments in total for all periods of unemployment under this policy 12 Payments We will not pay claims for disability or involuntary unemployment if you have permanently retired. If you have opted for a deferred start to your loan repayments, you will not be able to claim for periods of disability and unemployment
until the end of the deferred period. What happens if I change my mind or repay my loan early? After this, on early settlement of your loan, you may cancel your policy. Provided no benefit has been paid, you will be entitled to a refund of part of your premium, which will be paid to your loan account. The amount of the rebate depends on the term of your policy and the period of time since it started. Full details are set out in the policy, but we have given some examples below. Genuine Finance 70 Hudson St 5th FL Hoboken, NJ 07030 www.Genuine-Finance.com 7 Premium Payable The premium calculated is to be paid in full on or prior to the date the loan was executed. After 180 days or 6 m onths of consistent loan repayment, 50% of the Life & Disability Insurance premium is refunded to the borrower. The remaining 50% will be disbursed at the end of the loan term, or at which time the loan is fully repaid. Customer Service If you wish to make a complaint, you should write to the Customer Services Manager, Direct Financial & Insurance Services 455 Ruby St Joliet, IL 60435. If you remain dissatisfied, you may refer your complaint to the Financial Ombudsman Service. Statement of Price Price will vary according to the amount of the loan, the term of the loan and the interest rate. If you are accepted a statement of price will be sent to you with the documents that accompany the credit agreement. Other taxes may exist that are not payable via Direct Financial & Insurance Services. Statement of Demands & Needs Direct Financial & Insurance Services Payment Protection Insurance meets the demands and needs of those customers of Genuine Finance who have taken a personal loan and wish to ensure that: The outstanding balance of the loan will be settled in the event that they die or suffer a critical illness which results in them being unable to return to work; Monthly repayments on the loan continue to be paid in the event that they become disabled or unemployed. Borrower (1) Print Signature Date Borrower (2) Print Signature Date Genuine Finance 70 Hudson St 5th FL Hoboken, NJ 07030 www.Genuine-Finance.com |
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