Signed up for credit line

[inquiry33157]

FL

So we signed up with Xxxx for business spending advise and apply for credit line. We understand there is a fee for their services; advise/guidance. There is 9% for the line of credit we receive. They advised they will apply for blended cards. Which we understand meant business card since we are applying for business related lines of credit. As we are getting calls from credit card companies to verify that I applied for these cards and not a third party. (Xxx said for us to tell then lender there is no third party involved) They lender advised us that is no application fee for applying for these cards. That got me thinking. The person we are working with at Xxxx never disclosed this to us. Nor is it anywhere in there disclosure this is a free service that they charge for. I’m trying to understand NOW why in the world would anyone agree to doing business with a company who is suppose to advise you finally AFTER they have basically defrauded into doing business with them? Now. I have been approved for 3 cards and each approval they get 9% of I.E $12000 I pay them $1080. I have stopped payment for these charges. Trying to figure out where I go from here Can someone help me here?

 

[PayrollHRGuy]

Don't use the cards. Contact the banks that issued them and tell them you were duped by XXXXX.

If you get sued by XXXXX they are coming in with unclean hands and you can prove it if their instruction to lie to potential creditors is documented any where.

 

[quincy]

inquiry, your post was reported to remove the real names. It is not smart on a legal forum to identify a real person or entity, especially when you are accusing them of defrauding you.

 

[Zigner]

I would have to wonder why somebody would pay for something they could do for free on their own, also. Of course, there could be legitimate reasons for doing so. Perhaps you are too busy to fill out the paperwork on your own. Perhaps you don't know where to apply for the best odds of approval. In any case, you agreed to the charges in the contract you signed. By stopping payment and refusing to pay per your contract, you have set yourself up to be on the losing end of a lawsuit, which can cost you quite a bit more in the long run.

 

[Zigner]

Don't use the cards. Contact the banks that issued them and tell them you were duped by XXXXX.

If you get sued by XXXXX they are coming in with unclean hands and you can prove it if their instruction to lie to potential creditors is documented any where.

A service was performed on their behalf, as they agreed to in the contract. I'm not sure where your advice is coming from.

 

[inquiry33157]

Don't use the cards. Contact the banks that issued them and tell them you were duped by XXXX.

If you get sued by XXXXX they are coming in with unclean hands and you can prove it if their instruction to lie to potential creditors is documented any where.

I sent an email asking specifically why we can’t say that they are applying. I also have an email where I was specially told to tell them that WE are applying not them.

 

[inquiry33157]

Your post was reported to remove the real names. It is not smart on a legal forum to identify a real person or entity, especially when you are accusing them of defrauding you.

I removed real names.

 

[inquiry33157]

I would have to wonder why somebody would pay for something they could do for free on their own, also. Of course, there could be legitimate reasons for doing so. Perhaps you are too busy to fill out the paperwork on your own. Perhaps you don't know where to apply for the best odds of approval. In any case, you agreed to the charges in the contract you signed. By stopping payment and refusing to pay per your contract, you have set yourself up to be on the losing end of a lawsuit, which can cost you quite a bit more in the long run.

They presented them self to us as if we will need help to get a business line of credit. Without a service like there’s we will not get approved or it will be very difficult. Not in those words of course but that’s how it was understood. Applying for a card is easy as pie. Plus we have excellent credit. We thought we needed this company in order to be able to get approved. But after talking to the banks they told us anyone one can be approved for a card if they meet the requirements. Even a start up business.

 

[quincy]

Some small businesses have difficulty securing business loans when they are starting out. The company in question here provides new businesses with a way to help finance their business.

Reading and understanding all of the terms of a contract is important before signing the contract. Once you sign, you are legally bound by its terms (with a few exceptions).

 

[inquiry33157]

Some small businesses have difficulty securing business loans when they are starting out. The company in question here provides new businesses with a way to help finance their business.

Reading and understanding all of the terms of a contract is important before signing the contract. Once you sign, you are legally bound by its terms (with a few exceptions).

Don't they have a responsibility to be honest as well? Say something like, you can try but you may have more success with our help? Not make us feel like it is the ONLY option we have?

 

[quincy]

Don't they have a responsibility to be honest as well? Say something like, you can try but you may have more success with our help? Not make us feel like it is the ONLY option we have?

I read the information provided on their website and personally did not find that what they offered was unclear and did not find their terms vague or ambiguous or hidden in small print.

But you can have the contract terms you agreed to personally reviewed by an attorney in your area. It is possible there is something questionable about the company that I am not seeing on a brief look.

 

[PayrollHRGuy]

Where I'm coming from that if any entity tells you to lie to the bank they are not on the up and up.

 

[quincy]

I am not convinced the company is telling consumers to lie to the banks. The loans are not loans to the company but rather loans to the businesses so it would be the businesses that are applying.

 

[PayrollHRGuy]

I'm just going of what the OP said. If what the OP said isn't the case I withdraw my statement.

But it certainly sounds like they are simply completing credit card apps for them.

 

[quincy]

I'm just going of what the OP said. If what the OP said isn't the case I withdraw my statement.

But it certainly sounds like they are simply completing credit card apps for them.

It is not the company that needs to tell a consumer that there are other options available to them. It is the responsibility of the consumer to explore all options before signing a contract.