Americor Funding – Consumer Complaint – October 14, 2019

Consumer Statement:

We’ve been in their program for 14 months (since August 2018), and they have not honored A SINGLE THING present on both our contract with them or the terms of several recorded conversations we had with one of their sales managers named Jazmin Valerio since the day she sold us this atrocious program.

We had good credit, just a lot of revolving credit card debt. She sold us (we have the agreements and multiple recorded phone conversations to prove) AN APPROVED ZERO INTEREST LOAN (WHICH THEY CONTINUALLY ADVERTISED ON THEIR WEBSITE UNTIL THIS WEEK, NOW CHANGING TO LOW RATE WHICH IS STILL AN ABSURD LIE) THAT SHOULD’VE AUTOMATICALLY KICKED IN AFTER 12 MONTHS OF MAKING PAYMENTS IN THEIR PROGRAM.

Instead, after 13 months, we were contacted by a 3rd Party Company named Credit 9 who basically told us, ON A RECORDED LINE, that even though those were not the terms of our agreement with Americor and not what Jazmin Valerio had sold us, that is all we had available to us.

To add insult to injury, after 6 weeks of back and forth and making us reapply for a no interest loan we were supposedly approved for the day we signed up for the program when they actually ran our credit (having agreements and multiple recorded phone calls from different employees means absolutely nothing to these people), we were finally offered a new loan agreement with the caveat of paying them 22.50% APR because they did nothing but destroy our credit in the last 13 months and now we cannot get a proper loan from anyone else.

After a BBB complaint and multiple reviews left in several different sites, upper management finally decided to “properly” investigate. After listening to all phone conversations and reviewing all documents, a manager named Mihn Tong reached out to us to let us know that although they did confirm she lied on a recorded line and completely screwed us over, all they were willing to do is fire her (which they had since last week) and then tell us to either take the 22.5% loan or leave the program with our credit ruined, obviously being fully aware that a lawsuit will cost us a lot more then it would them at least until the case was judged.

Considering their actions and how they have been advertising and effectively selling zero interest loans that are not at all zero interest (they count the 12 months you make deposits into the program without getting a single penny from them as well as not really being approved for anything as the zero interest period, albeit NEVER telling you this).

If you don’t ever take a loan, you don’t ever pay any interest anyway and they are advertising and selling customers these fraudulent zero interest loans, based on the 12 months you are obligated to deposit money in an account with them under the false pretense of being automatically approved for a no interest loan after the last payment which they would used to repair your credit and get your score “better than before”. Since by the time you realize you’ve been duped, they have completely ruined your name and credit, they corner you into signing a new loan with this atrocious APR since they know you are hurting from living with no credit for a year and that you have no way out. Had we the means, we would have sued them the day we found out we were scammed. Please stop these people from hurting others and make them pay for what they did. Thank you.

Consumer Action Taken:

Multiple phone calls, emails, BBB complaint, FTC complaint and negative reviews every site I can find.

Unfortunately we cannot afford to sue them due to them ruining our credit and making us live without any credit for the past 14 months.

Date This Problem Happened: August 26, 2019

State You Live in: FL

Race/Ethnicity: White

Age Range: 36-50

Total Amount of Fee Paid: $22,000

Company Name: Americor Funding

Company Address:

18200 Von Karman Avenue Suite 600
Irvine, CA 92612

Company Telephone Number: 866-333-8686

Website of Company: americorfunding.com

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