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Review 11/14/2009
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November 4, 2009, I received a phone call from Harrison Capital Group agent, Mark Bennett. I was approved for a ten thousand dollar secured student loan. Payment on principle in the amount of $1,200.00 was to be initially sent to the "Lender" Jennifer Phillips in Toronto, Ontario Canada.
The "security deposit" (collateral) of $1,200.00 was to be sent to her and "one business day later" I was to receive a deposit of $10,000.00 in my checking account.
November 14, 2009, Mark Bennett called to confirm that I was going through with the transaction. Mr. Bennett was very kind in his tone of voice, offering to assist me with questions I had regarding the LOAN AGREEMENT he faxed. Even after the agreement was returned to him, he offered to lower the collateral amount, so long as I acted today by sending just $1,000.00 to Jennifer Phillips of Canada.
The (student) LOAN AGREEMENT in pertinent part states: "Harrison Capital Group (hereinafter the "Lender") an organization existing under the laws of the State of FLORIDA, with head office located at: 3915 Biscayne Blvd, Miami, FL 33137."
I understood "existing under the laws . . . of Florida" to be a reasonable identification of a party to be bound to the LOAN AGREEMENT. As such, "existing" meant that this party can be identified by state registry as a business entity because the party, Harrison Capital Group, was not a person but a business. Since Florida was the state given after "existing," as the other party, I understood that I could identify the other party to the LOAN AGREEMENT to be a business registered in the State of Florida as Harrison Capital Group.
This is interesting (according to Mark Bennett of Harrison Capital Group, my above interpretation of their words drafted in the LOAN AGREEMENT was wrong) because the "Lender" according to Mark Bennett was Jennifer Phillips of Canada. He said, the loan agreement binds me and the "lender" and that is "all I have to worry about" (phone conversation 14NOV09). I asked why I would need to send money to Jennifer Phillips of Canada then since the LOAN AGREEMENT in no way bound her. After all, he told me that the terms of the agreement were all I had to worry about.
Furthermore, the Florida Secretary of State has no registered business under that name. Even if I am completely wrong in my reading of the LOAN AGREEMENT, identification of the parties section, as meaning Harrison Capital Group exists under Florida law then it must be registered by the Florida Secretary of State, Mr. Bennett was nevertheless unwilling to even provide the registered agent for service of process for Harrison Capital Group. How am I, or any other future borrower, to identify the other party to their LOAN AGREEMENT?
Lastly, the address 3915 Biscayne Blvd., Miami, FL is currently listed by Lyle Chariff, who is licensed by the Florida Board of Realty. The realty office reports that the building is vacant and under renovation. (phone conversation 14NOV09)
Bottom Line: my experience lead me to believe that this is a SCAM!
Friends, ask your lawyer if what Mark Bennett or any agent of Harrison Capital Group says is correct before transacting.
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