Dunwood Capital Loan Scam Buffalo, New York

26th of Feb, 2013 by User832248

I was contacted by Jeremy Coleman with this so-called Loan Company telling me they had received my loan application and I was approved for a "secured" loan for $10,000. Since my credit score was not so good they required collateral in the amount of $800 which is equal to the first 4 payments of the loan. They e-mailed me a contract. I read through the contract. In the contract it stated that in some instances the "lender" may request additional collateral to secure the loan. I questioned this with Jeremy Coleman. He stated that the only reason they would request additional collateral was if they could not verify employment. Yesterday, I contacted Jeremy Coleman and told him that I would send the $800 by Western Union as he requested, but also told him that if they asked for more money I could not do it. I sent the $800 yesterday, called Jeremy with the money transfer control number and gave him my bank account information. He said he would pass this on to his "customer service department" and someone would be calling me within a couple of hours. Jeremy actually called me back an hour later and said everything was good to go. I received a call last night from a Chris with customer service. I told him I wasn't home at the time and he said he would call me in the morning. I spoke with Chris this morning and he said he "was sorry to inform me" that "the lender" after reviewing my information needed an additional $800 to secure the loan. I was skeptical at this point and told him that I had checks out on my bank account and if I sent the additional money I would be in the red in my account. He guaranteed me that the funds would be deposited in my account within 2 hours. I sent the additional $800, called Chris and gave him the money transfer control number. He said the funds would be deposited within 2 hours. An hour later I called him again to see what the hold up was and he said he would put an expedite on it. This went on all afternoon. Finally at 4:30 this afternoon he tells me that the "lender" tried to transfer the funds in my bank account 10 times but the deposit would not go through. I asked him why and he said they were needing proof that I have an insurance policy, so in other words they wanted more money. I told him this was BS! I also told him that I was reading a ripoff report on google about his company that this same thing happened to someone on Saturday, February 23, 2013. He proceeded to explain that this person committed fraud by saying she was employed but wasn't. I had to send a copy of my most recent paycheck stub to Dunwood Capital with the signed contract, so I asked him if they received a most recent paycheck stub from this other individual. He stated they did but it was a fake paycheck stub. How stupid is this?!!! He then proceeded to tell me they could not release the funds to me until they receive proof that I have an insurance policy. If anybody gets a call from this company DO NOT fall for their scam. I received my income tax return last Thursday in the amount of $3800.00 and after paying some payday loans, mortgage, and sending these idiots $1600 I'm in the red in my bank account.

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