Legal Question in Consumer Law in Pennsylvania

Personal loan
I was approved for a personal loan and submitted payments to cover insuramce premiums, conversion costs, broker fees, and closing costs. However I was told I would have one more conversion cost of $4500. I asked for written confirmation that this was the last fee and they provided me with a guarantee of last payment letter stating that once i sent inthe $4500 my loan would be deposited in my account within 3-6 hours. However then I received a call form the president of the lending firm which is based out of NYC and he told me that everything is set in the computer on the lender end for my loan to be disbursed however i have to pay a fee of $5900 for their closing and legal fees to have the paperwork drawn up. This cost was never disclosed to me prior to this and I on numerous times questioned if there would be any more fees and i was told no and that is why I asked for something in writing. Am I liable to pay the fee in order for my loan to be depostied? Is ther ea way I can sign something stating that I will pay the fee once my loan is dispersed?

Asked on 12/16/08, 11:59 pm

Roger Traversa Arjont Group (Law Office of Roger Traversa)

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Re: Personal loan

You asked about a loan fee scam.

You need to contact your local police immediately. DO NOT SEND ANY MORE MONEY.

This is a common scam that entraps people who are unwary or unsophisticated. Don't be embarrassed as a lot of people get caught up in these scams.

CALL THE POLICE IMMEDIATELY and report that you have been caught up in an ongoing scam. You should also call the Attorney General's office.

Regards,

Roger

Answered on 12/17/08, 3:11 pm

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