48 Hour Loan Center Complaints & Reviews

48 Hour Loan CenterScam and cheating!

We applied for a loan for $80,000 and was told we needed 3 payments up front of $1949.25 and was told it would be there in 48 hours. The next day they contacted us and told us 'due to my credit we needed an additional 3 payments up front of $1949.25, and offered to up the loan to a $100,000 and add 5 years onto the loan to make the loan for 45 years, and the payments would remain 647.85.' The next day they told us we needed insurance on the loan, and the loan company would pay half of the insurance which was $2,000. So we had to pay $1,000. After this was sent in it would be there in three hours. This all happened from January 30th to Feburary 1st. And feburary 4th we were told that we would receive a cashier's check in the mail by Friday Feburary 8th. At this time it is Thursday 7th. and yet we still have not received it. The first person to contact us was Andrew Biddermann, the second person was Andrew Silverman. The third person was Vince Demarco. And the final person we talked to was Jason. Each time we were told to talk to these people an these people only. Jason told us that the check would be here Friday and there's no need to keep calling. The following actions have been taken: The FBI have been contacted and the report has been filed against them. Federal Trade Commission, Local Sheriff(s) and the Local T .V. station.

  • Ch
    cher Feb 22, 2008

    After applying for many loans, i was contacted by "48 hour loan center" Vince Demarko said i was approved for $5000 loan. But due to bad credit i had to put $800 down. After some time, i called him and said i had the $800, i wire trasfered it through moneygram to Canada, i was told thats where my lender was. Then $5000 was supposed to be wire transferred to my bank account within 24 hours. The next day Adam Silverman called and said that Vince screwed up and i was supposed to put $1600 down. I didnt want to, because i had borrowed the initial $800, and now i would have to borrow another $800. Adam said that he would bump the loan up to $7000 and it would be in my account within 3 hours of the second wire transfer or he would refund my first $800 but it would take 5-7 business to recieve the check. Being i promised the person i borrowed from that i could pay back immediatly, i opted for doing the second wire transfer so i could get my money faster. I never got the wire transfer. I called customer service, i was then told that the lender does not do wire transfers, and i was being mailed a certified check, and it had already been mailed out, should get to me 3-5 business days. That time frame came and left, still no check. I kept calling and leaving messages but no one would pick up my calls or return my messages. After 3 days i finally got in touch with customer service, (it was thursday 2-7-08 afternoon) I was told to be patient because the check was coming from Canada and i should have it friday, or monday, 2-11-08, at the latest. It is now friday, 2-15-08, and i still do not have a check. I have been calling and leaving voicemails for both Adam Silverman and customer service, also paging both of them, but neither has returned my phone calls, and they will not pick up my calls! Just today, i called and left a message with customer service, then i went to call back to leave message for Adam Silverman, but the automated answering service will not put any of my calls thru! The exact words are "Good afternoon (or good evening, morning, etc, depending on the time) Thank you, Good Bye" Then hangs up. So now i cannot contact anyone. I need help getting my money back, plus the costs of bounced checks, etc. that screwed me over because i did not have my money when they said i would!!! Can anyone help me, PLEASE, im begging, i am now VERY broke and on the verge of declaring bankruptcy because of these people!!!!

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  • Jo
    Joel May 14, 2008

    This is a scam. They also go by 24 hour loan center. Adam DeFranko and also Michael Langstaff. The stages that accured with you such as you sending the initial $800, but someone else calls you indicating the other person messed up and the bank does not do wire transfers is typical. Then that person tells you theywill bump the loan amount if you send more. They are not located in Maine but in Maine. Your best bet is to contact your local police and the Canadian police. Obviously these are not their realy names. It's a shame, these guys can get away with it and the cops can never track them down. I'm sorry to say, but your money is gone.

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48 Hour Loan CenterRipped off!

I applied for a loan on line several days later i rec a call from bruce manning ext 321 from 48 hour loan center stating that i qualified for a loan but i had to pay 5 payments in advance and faxed me paperwork with all the info we talked about. Then i sent them 5 payment total of 785.00 by money gram transfer then i rec a call from andrew silverman ext 510 that the broker required a total of 10 not 5 payments, so like an idiot i sent it another 785.00 then i rec a call from Vince Dimarco ext 218 the broker required that i have insurance on the loan. I needed to send 1000.00, so i did i also rec a letter of guarantee from craig alston. This is all fraud and a scam never rec any funds from these people!!!