I borrowed $47,000 from ASCENTIUM CAPITAL to purchase an LED Road Sign. I authorized ASCENTIUM CAPITAL to pay the Vendor (Complete Signs, Dothan, Al) 1/2 of the amount of the loan. The agreement with the sign company is 1/2 down and 1/2 when the sign is installed.
Abruptly, without warning, ASCENTIUM CAPITAL disbursed the full amount of the loan proceeds to the SIGN company BEFORE the sign company began work. ASCENTIUM CAPITAL disbursed the full amount of the loan to make certain that the loan closed at the full $47,000. So I am left with owing $47,000 to Ascentium Capital, no money in my LOAN account and the Sign Company has been paid in FULL before the Sign Company even started work.
The vendor (Complete Signs, Dothan, Al.) took all the money ASCENTIUM CAPITAL paid and never preformed. To date, after over a year, the sign is still not installed. Because ASCENTIUM CAPITAL paid the Vendor ALL the money UP FRONT I have no leverage to induce the Sign company to deliver the sign. Short of litigation, that is. Because ASCENTIUM CAPITAL created the nightmare, I ask for their help, Ascentium Capital offered nothing.
I ask Ascentium Capital to replace the funds that they should not have removed, and Ascentium Capital offered nothing. They told me that if I miss a payment they will foreclose my loan , file a lawsuit against me and ruin my credit. So, for over a year I have been without $47,000, without my LED Sign and having to make monthly payments to ASCENTIUM CAPITAL of almost $1,100.
Plus ….Get this….ASCENTIUM CAPITAL required me to purchase insurance on the Loan. The insurance coverage does not begin until the sign is installed. I have been paying the MANDATORY insurance premiums for a year without any coverage. ASCENTIUM CAPITAL’s requirement for allowing the loan. Go figure. Allegedly, if ASCENTIUM CAPITAL is not the definition of crooked, bullying, unfair financial practices, predatory lending thieves, what is?
I am asking the public your opinion not accusing ASCENTIUM CAPITAL. BE CERTAIN THAT YOU UNDERSTAND ASCENTIUM CAPITAL HAS DISMISSED ME AS the POOR CUSTOMER THAT I AM. I have not yet found any support from the numerous government agencies I have contacted. No help from the Attorney General of Florida. I once believed in her credibility and her promise to help citizens, especially senior citizens Like me.