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Potent Loans

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Potent Loans Reports & Reviews (1)

Potent Loans

586 Market Street 3rd Floor

San Francisco, CA 94104-

I was contacted by this company after inquiring online at a different organization about an emergency loan. This company goes by both Clarified Loans and Potent Loans. The company that contacted me was doing business as Potent Loans though the email address and phone numbers are the same at both Potent and Clarified. The company agreed to provide me with an emergency loan of $5000. They then said that they required a payment for "insurance" of $300 to process the loan and this payment had to be in Amazon Gift cards or some other type of card. They only gave me a few types of cards. I was to send them the images of the cards, but they wouldn't be used unless I defaulted on the loan payment. After I did this, they said the loan would be ready in about an hour. Then, I received a phone call from someone else (and from their other number) at the company who said he was the financial guy. He indicated that they had tried to send me the money, but the State of California needs me to pay some taxes before they'll deposit the money in the account. So, he said I needed to give him additional money before they could "release" the funds. At this point, my already sceptic soul was very suspicious. I asked to see the correspondence they received indicating that the money was being held and couldn't be deposited unless I sent them MORE cash to cover this. At this point I refused. Told them that this now sounds like scam. He got increasingly hostile on the phone saying it wasn't a scam. I told him I wanted a refund of the $300. He said they could do that but it would take 2-3 weeks. I said I would be contacting the ScamPulse.com and he said well then if you are doing that why should we give you a refund. I told him I would hold off to make sure I received the refund. He kept saying the money on their end was being held without the tax deposit. He hung up on me at one point. I asked to speak to John Bailey, the man I originally spoke to and he refused. I waited about two weeks. I called again today. I spoke to the same guy. He tried to say that the money was still held up because of the taxes and that they only way I could get a refund was to pay them and take the loan. Obviously, I wasn't going to send any more money. He told me that they don't refund that. I told him that he actually said he'd refund me and now tried to say differently. He said he has recordings of the calls, which is great for me because he didn't say that. Neither this guy or John Bailey indicated this. I told him again that I wasn't taking the loan that I was filing a complaint and going to file a civil suit. He again tried to say he wasn't a scam and refused to refund the money. I went to check out the Amazon cards and they had already been used. So, they weren't being held in case I didn't make a payment. He then hung up on me and refused to continue to speak. Then, I called the other number and spoke to John Bailey. Now, John Bailey tried to tell me that they don't offer refunds if you don't get the loan. Nothing in the documentation says this and I wasn't told this which will be evident on the recordings they supposedly have. He said that the can send me the documentation now that says it. At which point I told him that this doesn't work after the fact. It wasn't in the original loan documents. Next, I asked to speak to someone else in the company. He refused. I told him that I think it's probably only 1-2 people there and he tried to say they were a business of 500 people. However, when I call either number, which are the only numbers listed on the website, they are the only two who answer the phones. He, too, hung up on me. I want a refund of the $300 I gave them. I also want this "business" shut down so other people aren't scammed.

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