I went on-line in search of an emergency loan. I have poor credit and knew it may be difficult. Because of some medical issues, I was behind on rent (facing eviction) and other bills. I was desperate (and still am) to stay in my apartment and pay bills. I am back to work now full-time and it would not have been a problem to handle a loan.

I was contacted by Amerilife Financial Group last week. The 'loan officer's' name is supposedly Michael Borland, Ext. 601. I was told that I was approved for a $5, 000 loan with Amerilife Financial Group.

The terms of the loan seemed pretty standard except they wanted $787.50 up front before they would direct deposit the $5, 000 the next day. The $787.50 was to cover the first 5 months worth of payments on a 36 month loan and my first payment wouldn't be due until Jan 2009. I was told that this is done so that people with bad credit can show 'good faith' that they will pay off the loan. Sort of like a large down payment on a car.

I asked Mr. Borland many questions and he offered to fax me the contract and terms and conditions. He stated that I could take it to any attorney to see that it was legitimate. It did seem like it may be okay since they faxed me the contract to review in advance.

I am a suspicious person by nature so I started trying to find independent verification that this company existed. I really wanted to find something because I was desperate for the money.

I couldn't find them anywhere on the internet (other than the website they provided me), not on the Better Business Bureau (BBB), Duns and Bradstreet, white pages in Bloomington, MN, and different search engine searches. I couldn't find any information on them at all. Finally, I contacted the Office of Minnesota Attorney General's office. They tried to locate information on the company in their system and were unable to. The representative I spoke to at the Attorney General's office stated he would not recommend I go through with the loan and offered for me to file a consumer complaint with their office.

I filed a complaint using the form on the Attorney General's website and faxed it to them on Friday. I would suggest anyone contacted by this company or those who sent them money contact the Attorney General's office so these people can be brought to justice. Their phone # is 1-800-657-3787. The consumer complaint form can be found at (((link redacted)))

I called Mr. Borland and let him know that it concerned me that I was unable to locate any outside information on the company. He stated that I could come to their office in Bloomington, MN (knowing I live in Maryland) to see that they are legitimate. He stated that companies will only appear on BBB if they had a complaint in the last 3 years (which is not true). He had no explanation as to why I couldn't find their company anywhere else. Then he stated, 'maybe we are under another company name you know dba (doing business as).' I asked for the name of the company that they are doing business as and he was unable to provide it. I asked if he could ask someone else in the company and he stated no one in his office would know. How is that possible?

Finally, I told him that I had already contacted the Attorney General's office and would be filing a consumer complaint. He became very angry at that point and said that I had no reason to contact them. He stated that if I was that apprehensive about doing business with them then they don't want me as a customer. I told him that they should be ashamed of themselves for taking advantage of people in need and essentially stealing their money.

I am so grateful that I didn't send them the $787.50. Phew, I dodged that bullet. If you get a call from this company, do not send them any money. If you did, report them so they can be shut down or charged with a crime (hopefully). Amerilife Financial Group are rip-off artists!!

Faranda
Frederick, Maryland
U.S.A.