August Funding

Victim Location 08876

Type of a scam Credit Repair/Debt Relief

I received a piece in the mail claiming to offer consolidation loans at attractive interest rates. The mail piece looked very well produced, which led me to believe it was likely a reputable company, though I’d never heard of it before. I visited their website and filled out the online form using the "reservation code" from the mail piece. Then I was called by someone from August Funding, claiming to be an analyst/underwriter of some kind. He asked me a few questions, and called me back the following day saying something to the following effect: "We don’t have an approval for a traditional loan for you, but we do have an approval for a [misleading phrase I can’t remember]. You will have to close your credit cards, but this will help you get out of debt quickly so it’s almost better in a way…" I then asked him if this was a consolidation loan or a debt relief program. He said "I don’t like to use the term ‘relief’". He was clearly trying to misrepresent their service, so I immediately told him I wasn’t interested and hung up the phone.