Post Title: Re: (1sttimevolvo)
Posted by: phuz at 8:32 AM 1-17-2008
Anyway, they offered me a pretty good rate, lower than other lenders were offering, however, as a means of security-collateral, they want the first 4 payments up front. Once the deposit is taken care of, the loan amount will be transfered into my bank account in the next business day, and the first payment is due June 1. I googled the phone number and only came up with one result, but it was an official flyer from a university advertising this lender, from back in 2001.
I did some searches on the domains citylending.org, citylending.net, and peopleschoicelending.com, and they were all created last year.
The phone number contact I have is 866-718-3046.
If you have a few moments to check out the website(s) or even call the number and pick their brain, I am curious to verify if this is legit or not.
Post Title: Re: Scam? You decide. (phuz)
Posted by: GrecianVolvo at 7:52 AM 1-17-2008
I cannot fully determine if it is a scam but, based on what I have read and my experience with various types of lenders, I would lean toward not going through them.
Yannis
Post Title:
Posted by: phuz at 8:07 AM 1-17-2008
But who can I get ahold of (government-wise) to verify this group is legit?
Post Title: Re: (phuz)
Posted by: 1sttimevolvo at 8:19 AM 1-17-2008
http://www.dc.bbb.org/report.h...42293
Post Title: Re: (1sttimevolvo)
Posted by: phuz at 8:23 AM 1-17-2008
| Quote, originally posted by 1sttimevolvo » |
| The Better Business Bureau site had this about a City Lending Group in Bensalem, PA. |
Different group.
This one claims to be at 1919 Commerce Dr., Hampton, VA 23666
Post Title: Re: (phuz)
Posted by: 1sttimevolvo at 8:25 AM 1-17-2008
And the link was offered as a means of searching for yourself, lol.
Post Title: Re: (1sttimevolvo)
Posted by: phuz at 8:32 AM 1-17-2008
| Quote, originally posted by 1sttimevolvo » |
| Are the terms and rates that much better than a local lender? And the link was offered as a means of searching for yourself, lol. |
I already checked with BBB, and no record on file.
The rate is better, yes!
Post Title: Re: (phuz)
Posted by: 1sttimevolvo at 8:42 AM 1-17-2008
| Quote, originally posted by phuz » |
| I already checked with BBB, and no record on file. The rate is better, yes! |
Terms? Rate's no good if the terms suck, or are vague/confusing/open to interpretation.............tens of thousands of subprime borrowers will attest to that.
Post Title: Re: (1sttimevolvo)
Posted by: phuz at 8:43 AM 1-17-2008
I called the FTC and they said it is 100% illegal for a lender to ask for $$ up front.
They are now reported to the FTC.
Post Title: Re: (phuz)
Posted by: 1sttimevolvo at 8:52 AM 1-17-2008
Wouldn't they already have your vehicle and motorcycle as collateral?
Since it's no skin off my nose if it's a scam or not, go ahead and do it. Quit worryin' about whether you get screwed or not.
Just do it.
You'll find out later if it's a scam or not.
If it is - lesson learn't.
Post Title:
Posted by: phuz at 8:55 AM 1-17-2008
| Quote, originally posted by phuz » |
| Oh so cool, bud. |
Hey, I'M not the one on a message board asking near strangers for financial advice, lol
Post Title: Re: (1sttimevolvo)
Posted by: universityvolvoOSD at 9:06 AM 1-17-2008
...But I am still suspicious 
| Quote, originally posted by 1sttimevolvo » |
Hey, I'M not the one on a message board asking near strangers for financial advice, lol |
I would never ask anyone on here for financial advice.
Ask if something sounds fishy is a different story. 
Post Title: Re: (phuz)
Posted by: 1sttimevolvo at 9:46 AM 1-17-2008
| Quote, originally posted by phuz » |
| I would never ask anyone on here for financial advice. Ask if something sounds fishy is a different story. |
But that's financial advise, lol. 
Now, go ahead and ask us if buying into a car wash would be a goot deal, too.
Post Title: Re: (1sttimevolvo)
Posted by: phuz at 9:55 AM 1-17-2008
| Quote, originally posted by 1sttimevolvo » |
But that's financial advise, lol. Now, go ahead and ask us if buying into a car wash would be a goot deal, too. |
Listen, I just inherited $600,000 and I was wondering if you could help me spend it!
Post Title: Re: (phuz)
Posted by: 1800girl at 10:01 AM 1-17-2008
| Quote, originally posted by phuz » |
Listen, I just inherited $600,000 and I was wondering if you could help me spend it! |
I can!! ME, ME...PICK ME!!
Post Title: Re: (phuz)
Posted by: TWBarrett at 10:26 AM 1-17-2008
| Quote, originally posted by phuz » |
Listen, I just inherited $600,000 and I was wondering if you could help me spend it! |
I'll do it for you. Here is how:
You send me a check for $1M, I cash it and send you the remaining $400K back. Does it work for you? Makes everybody happy, I get $600K from nowhere, you write $600K off of your taxes and get $400K cash, tax free.
Post Title: Re: (d_man)
Posted by: 1sttimevolvo at 10:29 AM 1-17-2008
| Quote, originally posted by d_man » |
| I'll do it for you. Here is how: You send me a check for $1M, I cash it and send you the remaining $400K back. Does it work for you? |
Pfffft ........Yeah.
Ain't know way Phuz is fallin' for that one again.
Post Title: Re: (1sttimevolvo)
Posted by: gdill2 at 1:59 PM 1-17-2008
George Dill
Post Title: Re: Scam? You decide. (phuz)
Posted by: dachshund2 at 3:31 PM 1-17-2008
Glad you didn't fall for that loan from CLG it did smell fishy.
If you just keep scheduling PhMIC installs pretty soon you won't have to worry about loans .
Post Title: Re: (universityvolvoOSD)
Posted by: MagoonR at 4:02 PM 1-17-2008
| Quote, originally posted by universityvolvoOSD » |
| If this online loan source pulled yoru credit report...then they have access to which credit card have what limits...and they could be using that info to skim $$ from those lines of creidt. |
In addition, applying to mutliple loan companies (especially online) may generate numerous credit bureau pulls which can negatively affect your FICO score.
Post Title: Re: Scam? You decide. (dachshund2)
Posted by: phuz at 6:51 AM 1-18-2008
| Quote, originally posted by dachshund2 » |
| Matt, Glad you didn't fall for that loan from CLG it did smell fishy. If you just keep scheduling PhMIC installs pretty soon you won't have to worry about loans |
If only it was that easy 
I did successfully report these guys to the FTC yesterday...AND, I called this company back and recorded my conversation with the guy.
Being in Hampton, VA, I asked him what major interstate their address (Commerce Dr.) sits along. He suddenly had another phone call and then I got disconnected. I called right back and he said "in order to answer your question, its highway 64." HAHA! He had to look it up, guaranteed. I have the phone recordings saved and will put them into a wave file when I get back from California. It's pretty funny.
I even asked him if I could drop down by their office and deliver the papers in person, which, to my surprise, he encouraged. But, he's bluffing
I just hope the FTC can shut them down.
The google searches I did on the phone number returned a flyer from a University which advertised this company as a lender, and that was back in 2001. I can only imagine how many students called that number and fell into a trap.
Post Title: Re: Scam? You decide. (phuz)
Posted by: 2k2S80t6 at 7:21 AM 1-18-2008
| Quote, originally posted by phuz » |
| If only it was that easy I did successfully report these guys to the FTC yesterday...AND, I called this company back and recorded my conversation with the guy. Being in Hampton, VA, I asked him what major interstate their address (Commerce Dr.) sits along. He suddenly had another phone call and then I got disconnected. I called right back and he said "in order to answer your question, its highway 64." HAHA! He had to look it up, guaranteed. I have the phone recordings saved and will put them into a wave file when I get back from California. It's pretty funny. I even asked him if I could drop down by their office and deliver the papers in person, which, to my surprise, he encouraged. But, he's bluffing I just hope the FTC can shut them down. The google searches I did on the phone number returned a flyer from a University which advertised this company as a lender, and that was back in 2001. I can only imagine how many students called that number and fell into a trap. |
That's likely also indicative of the individual on the other end being with an answering service / phone bank that's not attached to the main office.
Post Title: Re: Scam? You decide. (1sttimevolvo)
Posted by: lawyR at 5:26 AM 2-19-2008
You can also contact the Attorney General - Consumer Protection Division.
Alan
Post Title: Re: (phuz)
Posted by: asja at 8:31 AM 2-19-2008
| Quote, originally posted by phuz » |
Different group. This one claims to be at 1919 Commerce Dr., Hampton, VA 23666 |
The devil zip code! Run!
Besides, Hampton is an armpit. 
Oh, and no one says "highway 64". It's just I-64.
Post Title: Re: (MagoonR)
Posted by: VTT5 at 11:25 AM 2-19-2008
| Quote, originally posted by MagoonR » |
In addition, applying to mutliple loan companies (especially online) may generate numerous credit bureau pulls which can negatively affect your FICO score. |
The scoring system has been set up so that queries from companies offering the same sort of credit, when made within a limited time frame, are assumed to be your shopping around for a loan and are not treated additively in such a way as to degrade your score more than a single inquiry.
Post Title: Re: (asja)
Posted by: 2k2S80t6 at 12:15 PM 2-19-2008
| Quote, originally posted by asja » |
The devil zip code! Run! Oh, and no one says "highway 64". It's just I-64. |
+1
Post Title: Re: (asja)
Posted by: V70 Brad at 1:11 PM 2-19-2008
| Quote, originally posted by asja » |
The devil zip code! Run! Oh, and no one says "highway 64". It's just I-64. |
I happen to live near the address in question. I don't know if I am allowed to say anything other than "it gets worse..."
Post Title: Re: (V70 Brad)
Posted by: asja at 10:17 PM 2-19-2008
| Quote, originally posted by V70 Brad » |
I happen to live near the address in question. I don't know if I am allowed to say anything other than "it gets worse..." |
Really? Then why do you say you live in Williamsburg? Hampton is 45 minutes away.
Post Title: Re: (asja)
Posted by: V70 Brad at 9:07 AM 2-20-2008
| Quote, originally posted by asja » |
Really? Then why do you say you live in Williamsburg? Hampton is 45 minutes away. |
The part of Hampton that the address in question is located is only about 20 minutes down 64 from where I live in Williamsburg.
To give you a better idea, the address in question is the same exit as Phillips Volvo in Hampton. Its easy for me to check out the address when I make one of my weekly stops to the Volvo dealer.
Post Title: Re: (V70 Brad)
Posted by: 2k2S80t6 at 12:42 PM 2-20-2008
| Quote, originally posted by V70 Brad » |
The part of Hampton that the address in question is located is only about 20 minutes down 64 from where I live in Williamsburg. To give you a better idea, the address in question is the same exit as Phillips Volvo in Hampton. Its easy for me to check out the address when I make one of my weekly stops to the Volvo dealer. |
Like I said, it is one of the older buildings by the 'new' Bass Pro Shop near the exit for the Coliseum and 664. There are a few contractors from Langley AFB in that building as well.
Post Title: Re: (V70 Brad)
Posted by: asja at 2:29 PM 2-20-2008
| Quote, originally posted by asja » |
| Why would you make weekly stops at the Volvo dealer? I know where it is, that's where I ordered my C70 last year. I don't see how that can be 20 minutes from WB, it isn't. If I speed excessively, it's minimum 30 minutes, but more like 45. |
The old Realtor's trick: it's Williamsburg adjacent???
Post Title: Re: (asja)
Posted by: V70 Brad at 3:07 PM 2-20-2008
| Quote, originally posted by asja » |
| Why would you make weekly stops at the Volvo dealer? I know where it is, that's where I ordered my C70 last year. I don't see how that can be 20 minutes from WB, it isn't. If I speed excessively, it's minimum 30 minutes, but more like 45. |
I live close to where 199 meets I-64 (exit 243). The Mercury BLVD exit (exit for Phillips) is Exit 263. The speed limit on I- 64 is 65 MPH. So if I get on the Interstate and drive 20 miles at 65 or 70 MPH it actually takes LESS than 20 minutes
From there, Phillips is only a few blocks down the street.
EDIT: I should probably point out at this point that I live out toward Busch Gardens.
Modified by V70 Brad at 9:08 PM 2-20-2008
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