[ http://www.WantsCash.com newest victim of the current housing market? Are they Out of Business?]

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(Free-Press-Release.com) December 25, 2007 -- [ http://www.WantsCash.com newest victim of the current housing market? Are they Out of Business?]
Topic Added Dec 16th, 2007 - Print This Story

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More options Dec 18 2007, 8:35 am

Newsgroups: rec.carloans.leasing
From: Randy Stultzi
Date: Sat, 18 Dec 2007 08:07:51 -0700
Local: Sat, Dec 18 2007 8:07 am
Subject: Re: Auto Finance
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I think we've all been messed over by at least one bank, regardless of our financial/credit. When I went into business I got an unsecured loan from the local branch of a national bank for a hundred grand... Obviously I felt good about them and moved all my accounts there, business and personal, as well as Keough accounts for my employees, the kids savings accounts, etc...
A decade later I wanted to add some equipment at another office I had opened... I had no outstanding debts, the unsecured loan had long ago been paid off, and I asked for a $5K, 90 day loan to avoid pulling money out of the stock market which was going wild at that point in time... The daily checking account balance was more than that... The branch manager was all smiles as she assured me that she would have a ...

After using them, I was notified they are no longer operating!

Read this:

[ http://www.WantsCash.com ] Goes Out of Business

The current housing market has affected small and large lenders alike. Many small companies have gone belly up in the cooling market. They are now joined by; WantsCash.COM. The newest victim of the current housing market - lending market is WantsCash.COM. The company had, at its peak, six offices. The company was forced to close its doors April 25th when it was found that, with limited assets, the company owed unsecured claims to creditors. The result will be that the company’s assets will be liquidated and all debt will be wiped clean.

The owners of the company announced on Thursday, existing customers will be assisted, but no new customers will be accepted. As the mortgage industry cools and becomes more competitive, WantsCash.COM becomes one of many companies that have withdrawn from the fight. Other large lenders that closed prior to WantsCash.COM’s announcement were Capital Alliance, QuoteMeARate and Merit Financial. Even one of the nation’s largest sub-prime lenders, Ameriquest, is restructuring and eliminating offices. Numerous smaller companies have either digressed into other services or closed their doors in response to the sluggish mortgage market that 2006 has brought.

-John Morgan