Complaints.com

From: Message Author
Date: Wednesday, 28-Feb-07 09:50:35 CST

Business Info

I just wanted to warn people about what happened to me. I applied for an unsecured personal loan through a third party called America One Funding that is based in Florida. I was contacted by a rep from America One funding that took all my information by phone and they were to place me with a lender. The rep tells me that if I take the loan that they charge a 9.99% fee of the loan amount that I request. I was notified that they had sent my application to Bank of America. After a few days the rep from America One Funding notified me that I needed to contact Bank of America and that they needed to verify the info on my application. The Bank of America rep never verified any info on my application and instead spoke to me about the rates and payments they wanted to offer me. The rate was way too high for me so as I was instructucted to do by the rep at America One Funding, he told me to tell the rep at Bank of America to just say I would think about it and that America One funding rep would contact Bank of America and try to get me a better rate to which he could not do. I then, told the rep from America One funding that I would pass on the whole loan and not take it because of the high rate. I thought that was the end of it. A week later I received a letter from Bank of America that they had opened up a line of credit for me for $22,000 for a 7 year loan. I have never given any authorization to anyone to proceed with the loan. I never even received any paper work to explain the loan terms. How can this be, that they can take it upon themselves to just open account for consumers. America one funding and bank of America are blaming each other for this so called “mistake”.