Complaint / review text:
I applied for a personal loan through www.onlinelendingsource.com. I received an email from them saying that my application has been accepted by one of our affiliate lenders. They said they managed to secure an approval for my loan application through their affiliate, The Lending Tree. Barbara faxed me over some paperwork to sign and fax back, which I did. She said I had to wire $770 to a person (Rose) in Canada. This money was insurance on the loan. My wife sent the money as requested. The $5,000 loan was supposed to be wired to our checking account the next business day. That did not happen. I spoke with Barbara again and she said that due to my credit not being so great, I would need to wire an additional $780 for insurance to secure the loan. She said they are an affiliate of The Lending Tree. The fax letterhead has The Lending Tree logo on it.
I called The Lending Tree and was told that this is a scam, and this is not part of The Lending Tree or has anything to do with The Lending Tree. The Lending Tree told me that they have received many complaints about this person and I should make a formal complaint about this person.