Saturday, August 27, 2011
The Collateral Lender...rips-off consumers in Beverly Hills! Deceptive & Dishonest business practices!
As Americans around the country struggle to make ends meet, unscrupulous pawn shop owners and loan sharks have taken advantage of the devastating crisis to rip-off consumers.
One of the worst offenders is the Collateral Lender (Inc) at 8801 Wilshire Boulevard at Robertson in Beverly Hills (CA).
Some indiividuals have complained that the manager Justin (Josh?) - an uppity Asian-American male - goes back on his word in respect to the terms of the agreement.
For example, when a piece of jewellery is first appraised, the shopkeeper agrees to pay a specific sum.
However, when the loan is processed, the total is often short by $25 or $50 dollars.
Talk about sleazy business practices!
In addition, the Collaterall Lender often fails to abide by the terms of the agreement which are legally-binding.
For instance, the jeweller is required to give notice in the event the loan is about to go into default.
Justin and his staff routinely ignore the laws of the land and for obvious reasons.
If the loan goes into default, they can turn around and sell the customers cherished keepsake for a staggering profit.
One client reported that when he was out-of-town on business - and unable to drop in to the establishment to make a payment in person - he left a message on The Collateral Lenders website.
Although a pop-up message assured the customer that someone would respond shortly, that was not the case.
The message was ignored!
Agian, in this instant scenario, it was a deliberte dishonest attempt to force the loan into default, so the Collateral Lender could rustle up a profit at the individual's expense.
I say, avoid these sharks like the plague!