Fast Track Mutual Financing
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On Tuesday December 4th, 2012 I applied for a Debt Consolidation loan on the smart-loans.net website. On Wednesday December 5th 2012 a Sales Agent by the name of Sarah Mitchell called me to discuss the loan. She said I was pre-approved for a $10,000 Debt Consolidation loan. She provided me with three options to get the loan. Option 1 was to put up $10,000 worth of Collateral. Option 2 was to have a co-signer put up $10,000 worth of Collateral. Option 3 was to pay loan insurance in the amount of $695 and this would be a 12 month credit insurance plan. She said with this plan, her company will be my co-signer and as long as I made my monthly payments of $191.17 on time each month for 12 months that this would be reimbursed to me. She also informed me that once the received this payment via Western Union that I would receive the $10,000 loan via direct deposit into my checking account within 2 hours.
I was very skittish about this being that they were asking me to send money to Canada and I expressed my concerns to Sarah. She assured me that there was nothing to worry about. She stated that she would not have called me if I didn’t apply for the loan. She stated that she did not call me out of the blue and that her company was a successful financial institution. She told me to research their website and she also agreed to send me a brief copy of the terms and conditions so that I can review before going forward.
After 36 hours of debating this Sarah finally talked me into sending the $695. She had me send this money to a Tracy Moore in Ajax ON Canada. I sent this amount on December 6th, 2012 at 4:03 PM ET and Tracy Moore picked up the funds on December 6th, 2012 at 6:30 PM ET.
2 minutes after the money was picked up I received a call from a John/James Taffy who stated that he was the Executive Manager (also Sarah’s Manager) and he needed to discuss my loan with me. I thought this would be to process the loan since I sent the money and they received it. But instead he said that the bank pushed back my loan and has requested an additional $625 for the loan. He stated that they ran a second credit check and wanted a loan insurance payment of a total of $1320. Mr. Taffy also stated that he could waive only $200 of this and would need me to send another $425 in order for me to receive the loan. I explained to Mr. Taffy that I sent them all the money I had and that in the agreement they sent to me stated that once I sent the $695 that I would receive $10000 into my bank account within 2 hours. He stated that this was not his fault, nor Sarah’s, nor mine. That this was a request from the bank and there was nothing they could do.
I told him I did not have any more money to send. He told me to get a payday loan for the additional funds and then I could pay it right back with the $10000 loan. I stated that I currently had too many payday loans and would not be approved for another one.
This is when he told me that I can request a refund. However, it would take 2-4 weeks to receive this refund. I became very upset and started to cry. I knew at this point that I just got scammed. Mr. Taffy continues to talk to me and is still trying to get me to send more money. When I asked him where he himself was located he stated that he is in New York City in the Manhattan location.

Mr Taffy told me that they will not provide me with a refund because I stated that I would make a complaint to the FTC. I tried contacting again about my refund and both Mr. Taffy and Sarah Mitchell will not take my calls.

I need my money back. They first told me that a refund would take 2-4 weeks, then they said 4-6 weeks and now they are saying that I will not get a refund unless I take them to court.

I do not believe this is fair and I do not understand how they can keep my money. It is not my fault that they told me the wrong amount to pay. I really believe this is a SCAM and I would like to know what I can do about this.

I am the only income for a family of four and because of this SCAM my electric and water are about to be shut off and my car is in the process of being repoed. This company has runned Christmas for my family. Thank you for your time and help.