it's trans canada loans inc..
3555 Don Mills Rd Suite 18-301 Toronto, Ontario M2H 3N3

Was it Trans Canada Loans or Trans Canada Credit you are dealing with?

I just finished getting a loan from this company, I had to put up $1200 "collateral" (10%) to get a $12,000 loan which gets returned to you at the end of your loan term with interest. If I had a vehicle newer than 2005 with no liens on it I wouldn't have had to pay the down. Payments are reasonable,I received a contract from them before paying the money (which I had a paralegal friend take a look at) and I had my cheque within 24 hours. Also, if I make extra payments they go directly to principle and I can pay the loan off early with no penalties. Obviously the whole thing isn't ideal but I want to pay off my student loans and get the collection agencies off my back.

mmm.... ya know how bad these things are...?

I was once in that desperate spot... and willing to do almost anything.

I was looking at one of those pay up front broker people and was warned against it.

The one who warned me against them?

Wait for it.... a collection agent!

How bad do these places have to be when a collection agent is warning you it's a scam...?

Or should we say: "there are none so blind as those who will not see."

Did she even call the Manitoba Government Financial Institution Regulation Branch office in Winnipeg first to check up on them?

Ray

sis is adament...we'll see

How much cash up front are we talking?

I hope this doesn't turn out to be an overly expensive lesson when she can least afford to learn it...

I know, but I won't be able to talk her out of it. At least I'm not paying the money up front. My hubby and I are going to raise the funds needed with a simple garage sale!!

Thank you all for the much needed help.

And paying a company up front for.... nothing... is gonna help her, how?

Loan brokers... the good ones... get paid by commission. Meaning that the lenders pay them as the lenders, particularly high risk ones, make whacks-o-cash off you.

I wouldn't even talk to these people, myself.

That's kinda what I was thinking. I'm talking to the lady there tomorrow to see if she'll dish out more info. Maybe send something to me with a physical address, phone number, etc. Still don't think I'm going to, but my sis is so desperate for the loan I think she will. We'll see. I'll keep you posted.