Consumer complaint received 2018-06-21
Company: Iron Capital Group
State: NY
Product: Credit card or prepaid card
Sub-product: General-purpose credit card or charge card
Issue: Fees or interest
Sub-issue: Problem with fees

Complaint:
On XX/XX/XXXX, I signed an agreement for a loan with Iron Capital Group for {$30000.00}. My son spoke with Iron Capital on XX/XX/XXXX before filling out the agreement and ask if this was a credit card situation because he doesn't want it which they advised that it wasn't. They advised that they had lenders who were offering loans and you just got ta pay 15 % of the amount you requested. I tried printing the agreement when it was sent to us to take home to read before filling out but I couldn't because it will not allow you to and it gives you no option. They advise me that I needed to fill it out first and then I will receive a copy of the agreement which he states is everything we spoke about. When I received the agreement via email I noticed that it was missing the amount requested and salary amount. I called and spoke with XXXX who advised that he is seeing it on his side and its okay. We agreed on the amount and everything was understood. 

A few weeks after, I start receiving all these calls from credit card companies which became transparent that it was credit cards ; and because of fraud and identity thief, they needed to speak with me personally. We called XXXX at Iron Capital and complained and he admitted to us that it was credit cards and we advised him that we don't want it and to stop sending out any more request and that I can't respond to all these credit card companies that are calling all day. My son also advised them that he distinctly spoke with XXXX and told him that if it was credit cards he didn't want it. XXXX at Iron Capital then said that we already sign the agreement for the {$30000.00} and because we ask him to stop ; we will be responsible to pay the full 15 % on {$30000.00} if it comes up short. He also advised that he could liquidate the credit cards to cash for us if that would make things better. I call to speak with XXXX but now I was given a XXXX and was told this is whom I will be speaking to. I told him that we told XXXX to stop and I will pay him the 15 % on the {$30000.00} whether or not and I don't want the cards to be liquidated. He advised that he will be taking over from here and I believed that he understood what a nightmare this has become and I '' m ready to pay up what ever has been approved and for how much. XXXX kept calling to find out if any other credit card has been approved which I advise him that I was not hearing nothing else from the others that they said they had sent request to. I told them that I haven't heard anything from whatever bank they claim they had also sent request to and I am done and ready to pay for what I had agreed on. 

The total credit cards that were approved was {$33000.00}, XXXX XXXX more than what I requested but I settled to pay them and gave them {$4900.00} on XX/XX/XXXX. Then I was told by XXXX that I still need to follow up on others that they had sent out request to. I advised him that I don't want anymore and that I paid for the amount that I requested and I do not want anymore. I also advised them that if these come through they can close them because I don't need more than what I requested. He then had an XXXX followed up with me for a few weeks to see if they had hit. I was honest and told them they are approved but I won't be needing it and I don't want anymore credit card and that they got paid as per our agreement. Now they start calling me to tell me that must pay them {$3300.00} for the overage that I distinctly told them I don't want. 

On XX/XX/XXXX I received a letter from an attorney advising that he is collecting a debt for breach of contract with Iron Capital. I advised him that I paid Iron Capital for the agreed amount and whatever the overage is .... '' I do not want and Iron Capital is aware of it ''. I told him the amount I paid as per our agreement which he had no knowledge of. He thought that I requested this amount and now I didn't want to pay Iron Capital. I even told him that I will give them a {$1000.00} more to get them off my back and still close the accounts that I don't want. I have told them numerous times that I do not need the extra and I told him that I had told them that I will close out the accounts and they threatened me that no matter if I closed the account I am still responsible to pay for the overage which was not part of the agreement. He advised that he will speak with them. Later that day he called me back and said that they refused the {$1000.00} and they want instead of the {$3300.00} ... {$2900.00} which I did not accept. I felt that they are scamming me to pay for something I do not want. I told him that they are using the agreement from the first loan to try and get money from me for the overage. I now understand why the agreement never printed out the amount requested because when you sent out request to credit card companies, you do not know what the amount approval will be and if its over the amount you requested then they will use that agreement as a breach of contract to get the overage paid. Unfortunately, I was a customer that only needed {$30000.00} and nothing more. This is their scam and the attorney called me back again that day and told me that they sent something to him saying that I put N/A for amount requested which I know I did not, no one in their right mind would do that. I told him that that not true. No one request a loan without putting down the amount of the loan they are requesting and their salary amount which is not on the agreement that I filled out. I looked back on the agreement to see what the attorney was talking about. In the area where it says business information, I N/A everything out because it was not a business loan, it was a personal loan and I had filled out the amount requested and the salary amount on the first page of the agreement. How would you apply for a loan without stating your salary and your loan amount. The lawyer 's response was, " he understood my situation but at the same time he doesn't '' and I asked him ... what if someone was trying to scam money from you? His reply was ... '' this is about you and not about me ''. This is wrong and its a scam. No one needs to be harassed and threatened to pay for something they don't want.

Company response to consumer: Closed with explanation