Cronin Finance
Complaint 8760 Details

On July 19, 2011 I applied for a loan on the internet and got an e-mail from Cronin Finance stating that my application has been approved and for me to contact the company in order to further discuss the details of the financing. I was also assigned an account number. I immediately called the number given and was greeted by a very courteous person. He explained to me how the loan process was and also told me that all I needed to do was either have a co-signer for the loan or I could also secure the loan by taking out an Insurance Protection Plan in case I lose my job or become disabled.
So as not to inconvenience anyone else by asking them to co-sign for the loan, I opted to secure the loan by taking out an Insurance Protection Plan. The loan documents were emailed to me and I was asked to sign it right away and send the money through Green Dot as soon as possible so that the loan proceeds could be wired into my checking account within 36 to 48 hours. I did exactly as I was directed and the following day I called Cronin Finance to inquire about the status of my loan and I was told the funds should be in my account at the latest Friday, July 22nd. Come July 22nd, no funds were wired into my checking account so I called the company again only to be told that the lender needed more security so I had to come up with additional security and the loan will be funded by 2 p.m. Saturday, July 23rd. Once again, stupid me, sent the additional funds through Greed Dot again on Friday, July 22nd. Come Saturday, July 22nd, still no money wired into my checking account. On Monday, July 25th I called the company again and was told that the lender backed out at the last minute and that the company was going to file a lawsuit against the lender for not coming through with their commitment and so I asked if I could just have my money back and that I wanted them to wire the money back into my account after all I also sent the money to them in cash. I was told that it wasn't possible for the money to be wired into my checking account but that a check will be sent in the mail right away. Up to today, August 3, 2011, I have not received the check yet. I don't know if I will ever get my money back but I am sharing this nightmare of an experience that I had in the hopes that other people will not fall into the trap of these companies who have no conscience at all - hurting people who are already hurting financially. As an added note, it wasn't easy to contact the "loan" agent after the funds were sent to them. And I also noticed, I never got a call back. I always had to be the one to call and whenever I called a different extention, I was always given a very cold response. I also tried calling Cannon Insurance who is supposed to be the insurance company handling the policy and each time I start saying I'm following up on my refund check the person on the other line just hangs up. I hope someone or some entity out there will be able to help recover the monies that the victims of Cronin Finance sent to them in good faith.