877-897-3243
 | er 2011-06-06 21:04:57 Unknown |
receive call 10:45 am who is this company? are they real?
| Dorothy Bruno-White 2010-04-27 00:16:11 Unknown |
Mine was also done in early Feb. We were taken for almost 1,000. It devistated us. We had little and now nothing. I know now to check this website. Has anyone heard anything? We filed with the Chicago police and the ftc. I have been reading this web page and almost cried. Sounds like they are at it again. Lets catch these crooks.
| angela 2010-04-22 02:42:13 Unknown |
Mine was all about the first two weeks of February.
| angela 2010-04-22 02:41:02 Unknown |
See my early posts from February. Daniel Richardson was my "broker" also. Just checking to see how many more people they have taken in. This is really sad.
| Wendy 2010-04-12 03:22:15 Unknown |
I applied for a $7,000 personal loan to pay off my bills. They had me wire the $2300.00 which was 12 months up up front since it was unsecured and then then asked for more since they said one lender backed out and would need another $500.00 and I said no I don't have it so cancel the loan and refund my money, I never heard back and when I tried to call the number was disconnected. I filed with the Police dept and on line with the FBI, that was March 9, 2010. I would love to get these guys who took my hard earned money.
| lamet 2010-03-16 17:39:46 Unknown |
THERE IS NO LOAN - ITS A SCAM TO STEAL YOUR MONEY
ITS CALLED AN ADVANCE FEE LOAN SCAM - ITS ILLEGAL TO DEMAND PREPAYMENT ON A LOAN..
THE FEDERAL TRADE COMMISSION WEBSITE HAS 2 ARTICLES ON THIS SCAM - THE FIRST ONE FROM 2000!
Advance-Fee Loan Scams: ?Easy? Cash Offers Teach Hard Lessons
http://www.ftc.gov/bcp/edu/pubs/consumer/telemarketing/tel16.shtm
Advance-Fee Loan Scams: ?Easy? Cash Offers Teach Hard Lessons
Looking for a loan or credit card but don?t think you?ll qualify? Turned down by a bank because of your poor credit history?
You may be tempted by ads and websites that guarantee loans or credit cards, regardless of your credit history.
The catch comes when you apply for the loan or credit card and find out you have to pay a fee in advance.
According to the Federal Trade Commission (FTC), the nation?s consumer protection agency, that could be a tip-off to a rip-off. If you?re asked to pay a fee for the promise of a loan or credit card, you can count on the fact that you?re dealing with a scam artist. More than likely, you?ll get an application, or a stored value or debit card, instead of the loan or credit card.
The Signs of an Advance-Fee Loan Scam
The FTC says some red flags can tip you off to scam artists? tricks. For example:
A lender who isn?t interested in your credit history. A lender may offer loans or credit cards for many purposes ? for example, so a borrower can start a business or consolidate bill payments. But one who doesn?t care about your credit record should give you cause for concern. Ads that say ?Bad credit? No problem? or ?We don?t care about your past. You deserve a loan? or ?Get money fast? or even ?No hassle ? guaranteed? often indicate a scam.
Banks and other legitimate lenders generally evaluate creditworthiness and confirm the information in an application before they guarantee firm offers of credit ? even to creditworthy consumers.
Fees that are not disclosed clearly or prominently. Scam lenders may say you?ve been approved for a loan, then call or email demanding a fee before you can get the money. Any up-front fee that the lender wants to collect before granting the loan is a cue to walk away, especially if you?re told it?s for ?insurance,? ?processing,? or just ?paperwork.?
Legitimate lenders often charge application, appraisal, or credit report fees. The differences? They disclose their fees clearly and prominently; they take their fees from the amount you borrow; and the fees usually are paid to the lender or broker after the loan is approved.
It?s also a warning sign if a lender says they won?t check your credit history, yet asks for your personal information, such as your Social Security number or bank account number. They may use your information to debit your bank account to pay a fee they?re hiding.
A loan that is offered by phone. It is illegal for companies doing business in the U.S. by phone to promise you a loan and ask you to pay for it before they deliver.
A lender who uses a copy-cat or wanna-be name. Crooks give their companies names that sound like well-known or respected organizations and create websites that look slick. Some scam artists have pretended to be the Better Business Bureau or another reputable organization, and some even produce forged paperwork or pay people to pretend to be references. Always get a company?s phone number from the phone book or directory assistance, and call to check they are who they say they are. Get a physical address, too: a company that advertises a PO Box as its address is one to check out with the appropriate authorities.
A lender who is not registered in your state. Lenders and loan brokers are required to register in the states where they do business. To check registration, call your state Attorney General?s office or your state?s Department of Banking or Financial Regulation. Checking registration does not guarantee that you will be happy with a lender, but it helps weed out the crooks.
A lender who asks you to wire money or pay an individual. Don?t make a payment for a loan or credit card directly to an individual; legitimate lenders don?t ask anyone to do that. In addition, don?t use a wire transfer service or send money orders for a loan. You have little recourse if there?s a problem with a wire transaction, and legitimate lenders don?t pressure their customers to wire funds.
Finally, just because you?ve received a slick promotion, seen an ad for a loan in a prominent place in your neighborhood or in your newspaper, on television or on the Internet, or heard one on the radio, don?t assume it?s a good deal ? or even legitimate. Scam artists like to operate on the premise of legitimacy by association, so it?s really important to do your homework.
Finding Low-Cost Help for Credit Problems
If you have debt problems, try to solve them with your creditors as soon as you realize you won?t be able to make your payments. If you can?t resolve the problems yourself or need help to do it, you may want to contact a credit counseling service. Nonprofit organizations in every state counsel and educate people and families on debt problems, budgeting, and using credit wisely. Often, these services are low- or no-cost. Universities, military bases, credit unions, and housing authorities also may offer low- or no-cost credit counseling programs. To learn more about dealing with debt, including how to select a credit counseling service, visit ftc.gov/credit.
Where to Complain
If you think you?ve had an experience with an advance-fee loan scam, report it to the FTC.
The FTC works to prevent fraudulent, deceptive and unfair business practices in the marketplace and to provide information to help consumers spot, stop and avoid them. To file a complaint or get free information on consumer issues, visit ftc.gov or call toll-free, 1-877-FTC-HELP (1-877-382-4357); TTY: 1-866-653-4261. Watch a new video, How to File a Complaint, at ftc.gov/video to learn more. The FTC enters consumer complaints into the Consumer Sentinel Network, a secure online database and investigative tool used by hundreds of civil and criminal law enforcement agencies in the U.S. and abroad.
April 2008
Just When You Thought It Was Safe...Advance-Fee Loan "Sharks"
http://www.ftc.gov/bcp/edu/pubs/consumer/alerts/alt028.shtm
Just When You Thought It Was Safe...Advance-Fee Loan "Sharks"
A different breed of "loan shark" is preying on unwary consumers by taking their money for the promise of a loan, credit card or other extension of credit.
Advertisements and promotions for advance-fee loans "guarantee" or suggest that there's a high likelihood of success that the loan will be awarded, regardless of the applicant's credit history. But, to take advantage of the offer, the consumer first has to pay a fee. And that's the catch: The consumer pays the fee, the scam artist takes off with the money, and the loan never materializes.
Legitimate guaranteed offers of credit do not require payments up front. Legitimate lenders may require consumers to pay application, appraisal or credit report fees, but these fees seldom are required before the lender is identified and the application completed. In addition, the fees generally are paid to the lender, not to the broker or arranger of the "guaranteed" loan.
Legitimate lenders may guarantee firm offers of credit to credit-worthy consumers, but they rarely do this before evaluating a consumer's creditworthiness.
Advertisements for advance-fee loans generally appear in the classified section of daily and weekly newspapers and magazines. Often, the ads feature "900" numbers, which result in charges on your phone bill. Advance-fee loans also are promoted through direct mail and radio and cable TV spots. The appearance of ads in media outlets that you recognize - like your local newspaper or radio station - is no guarantee of the legitimacy of the company behind the ad.
The Federal Trade Commission says you can avoid being bitten by advance-fee loan sharks: Here's how:
Don't pay for a promise. It's illegal for companies doing business by phone to promise you a loan and ask you to pay for it before they deliver.
Ignore any ad - or hang up on any caller - that guarantees a loan in exchange for an advance fee. Legitimate lenders never "guarantee" or say that you will receive a loan before you apply, especially if you have bad credit or no credit record.
Never give your credit card or bank account numbers, or Social Security Number, over the telephone unless you are familiar with the company and know why the information is necessary.
The FTC works to prevent fraudulent, deceptive and unfair business practices in the marketplace and to provide information to help consumers spot, stop and avoid them. To file a complaint or get free information on consumer issues, visit ftc.gov or call toll-free, 1-877-FTC-HELP (1-877-382-4357); TTY: 1-866-653-4261. Watch a new video, How to File a Complaint, at ftc.gov/video to learn more. The FTC enters consumer complaints into the Consumer Sentinel Network, a secure online database and investigative tool used by hundreds of civil and criminal law enforcement agencies in the U.S. and abroad.
May 2000
ITS CALLED AN ADVANCE FEE LOAN SCAM - ITS ILLEGAL TO DEMAND PREPAYMENT ON A LOAN..
THE FEDERAL TRADE COMMISSION WEBSITE HAS 2 ARTICLES ON THIS SCAM - THE FIRST ONE FROM 2000!
Advance-Fee Loan Scams: ?Easy? Cash Offers Teach Hard Lessons
http://www.ftc.gov/bcp/edu/pubs/consumer/telemarketing/tel16.shtm
Advance-Fee Loan Scams: ?Easy? Cash Offers Teach Hard Lessons
Looking for a loan or credit card but don?t think you?ll qualify? Turned down by a bank because of your poor credit history?
You may be tempted by ads and websites that guarantee loans or credit cards, regardless of your credit history.
The catch comes when you apply for the loan or credit card and find out you have to pay a fee in advance.
According to the Federal Trade Commission (FTC), the nation?s consumer protection agency, that could be a tip-off to a rip-off. If you?re asked to pay a fee for the promise of a loan or credit card, you can count on the fact that you?re dealing with a scam artist. More than likely, you?ll get an application, or a stored value or debit card, instead of the loan or credit card.
The Signs of an Advance-Fee Loan Scam
The FTC says some red flags can tip you off to scam artists? tricks. For example:
A lender who isn?t interested in your credit history. A lender may offer loans or credit cards for many purposes ? for example, so a borrower can start a business or consolidate bill payments. But one who doesn?t care about your credit record should give you cause for concern. Ads that say ?Bad credit? No problem? or ?We don?t care about your past. You deserve a loan? or ?Get money fast? or even ?No hassle ? guaranteed? often indicate a scam.
Banks and other legitimate lenders generally evaluate creditworthiness and confirm the information in an application before they guarantee firm offers of credit ? even to creditworthy consumers.
Fees that are not disclosed clearly or prominently. Scam lenders may say you?ve been approved for a loan, then call or email demanding a fee before you can get the money. Any up-front fee that the lender wants to collect before granting the loan is a cue to walk away, especially if you?re told it?s for ?insurance,? ?processing,? or just ?paperwork.?
Legitimate lenders often charge application, appraisal, or credit report fees. The differences? They disclose their fees clearly and prominently; they take their fees from the amount you borrow; and the fees usually are paid to the lender or broker after the loan is approved.
It?s also a warning sign if a lender says they won?t check your credit history, yet asks for your personal information, such as your Social Security number or bank account number. They may use your information to debit your bank account to pay a fee they?re hiding.
A loan that is offered by phone. It is illegal for companies doing business in the U.S. by phone to promise you a loan and ask you to pay for it before they deliver.
A lender who uses a copy-cat or wanna-be name. Crooks give their companies names that sound like well-known or respected organizations and create websites that look slick. Some scam artists have pretended to be the Better Business Bureau or another reputable organization, and some even produce forged paperwork or pay people to pretend to be references. Always get a company?s phone number from the phone book or directory assistance, and call to check they are who they say they are. Get a physical address, too: a company that advertises a PO Box as its address is one to check out with the appropriate authorities.
A lender who is not registered in your state. Lenders and loan brokers are required to register in the states where they do business. To check registration, call your state Attorney General?s office or your state?s Department of Banking or Financial Regulation. Checking registration does not guarantee that you will be happy with a lender, but it helps weed out the crooks.
A lender who asks you to wire money or pay an individual. Don?t make a payment for a loan or credit card directly to an individual; legitimate lenders don?t ask anyone to do that. In addition, don?t use a wire transfer service or send money orders for a loan. You have little recourse if there?s a problem with a wire transaction, and legitimate lenders don?t pressure their customers to wire funds.
Finally, just because you?ve received a slick promotion, seen an ad for a loan in a prominent place in your neighborhood or in your newspaper, on television or on the Internet, or heard one on the radio, don?t assume it?s a good deal ? or even legitimate. Scam artists like to operate on the premise of legitimacy by association, so it?s really important to do your homework.
Finding Low-Cost Help for Credit Problems
If you have debt problems, try to solve them with your creditors as soon as you realize you won?t be able to make your payments. If you can?t resolve the problems yourself or need help to do it, you may want to contact a credit counseling service. Nonprofit organizations in every state counsel and educate people and families on debt problems, budgeting, and using credit wisely. Often, these services are low- or no-cost. Universities, military bases, credit unions, and housing authorities also may offer low- or no-cost credit counseling programs. To learn more about dealing with debt, including how to select a credit counseling service, visit ftc.gov/credit.
Where to Complain
If you think you?ve had an experience with an advance-fee loan scam, report it to the FTC.
The FTC works to prevent fraudulent, deceptive and unfair business practices in the marketplace and to provide information to help consumers spot, stop and avoid them. To file a complaint or get free information on consumer issues, visit ftc.gov or call toll-free, 1-877-FTC-HELP (1-877-382-4357); TTY: 1-866-653-4261. Watch a new video, How to File a Complaint, at ftc.gov/video to learn more. The FTC enters consumer complaints into the Consumer Sentinel Network, a secure online database and investigative tool used by hundreds of civil and criminal law enforcement agencies in the U.S. and abroad.
April 2008
Just When You Thought It Was Safe...Advance-Fee Loan "Sharks"
http://www.ftc.gov/bcp/edu/pubs/consumer/alerts/alt028.shtm
Just When You Thought It Was Safe...Advance-Fee Loan "Sharks"
A different breed of "loan shark" is preying on unwary consumers by taking their money for the promise of a loan, credit card or other extension of credit.
Advertisements and promotions for advance-fee loans "guarantee" or suggest that there's a high likelihood of success that the loan will be awarded, regardless of the applicant's credit history. But, to take advantage of the offer, the consumer first has to pay a fee. And that's the catch: The consumer pays the fee, the scam artist takes off with the money, and the loan never materializes.
Legitimate guaranteed offers of credit do not require payments up front. Legitimate lenders may require consumers to pay application, appraisal or credit report fees, but these fees seldom are required before the lender is identified and the application completed. In addition, the fees generally are paid to the lender, not to the broker or arranger of the "guaranteed" loan.
Legitimate lenders may guarantee firm offers of credit to credit-worthy consumers, but they rarely do this before evaluating a consumer's creditworthiness.
Advertisements for advance-fee loans generally appear in the classified section of daily and weekly newspapers and magazines. Often, the ads feature "900" numbers, which result in charges on your phone bill. Advance-fee loans also are promoted through direct mail and radio and cable TV spots. The appearance of ads in media outlets that you recognize - like your local newspaper or radio station - is no guarantee of the legitimacy of the company behind the ad.
The Federal Trade Commission says you can avoid being bitten by advance-fee loan sharks: Here's how:
Don't pay for a promise. It's illegal for companies doing business by phone to promise you a loan and ask you to pay for it before they deliver.
Ignore any ad - or hang up on any caller - that guarantees a loan in exchange for an advance fee. Legitimate lenders never "guarantee" or say that you will receive a loan before you apply, especially if you have bad credit or no credit record.
Never give your credit card or bank account numbers, or Social Security Number, over the telephone unless you are familiar with the company and know why the information is necessary.
The FTC works to prevent fraudulent, deceptive and unfair business practices in the marketplace and to provide information to help consumers spot, stop and avoid them. To file a complaint or get free information on consumer issues, visit ftc.gov or call toll-free, 1-877-FTC-HELP (1-877-382-4357); TTY: 1-866-653-4261. Watch a new video, How to File a Complaint, at ftc.gov/video to learn more. The FTC enters consumer complaints into the Consumer Sentinel Network, a secure online database and investigative tool used by hundreds of civil and criminal law enforcement agencies in the U.S. and abroad.
May 2000
| samantha 2010-03-16 16:33:19 Unknown |
I also was scammed by these people and I saw someone else ask how they got the info on us. I don't know about everyone else but I filled out some forms online to find a loan and that's how they found me.
IT DEFINETLY IS A SCAM. DON"T SEND THEM ANY MONEY. I have filled several complants with the BBB, the ohio attorney general, and the FBI. I will soon be filling with the attorney general in chicago. I would advise anyone who has sent them money to do the same thing. I don't think it is very likely but hopefully if enough people complain we can get our money back. Also was everyone supposed to recieve their loan on march 12?
IT DEFINETLY IS A SCAM. DON"T SEND THEM ANY MONEY. I have filled several complants with the BBB, the ohio attorney general, and the FBI. I will soon be filling with the attorney general in chicago. I would advise anyone who has sent them money to do the same thing. I don't think it is very likely but hopefully if enough people complain we can get our money back. Also was everyone supposed to recieve their loan on march 12?
| samantha 2010-03-15 18:41:24 Unknown |
I was first going to recieve a $50,000 loan from them and they told me that one fell through and that they had another loan for $60,000. In total I ended up sending them almost $6,000. I have not received my money and just discovered today that it was all a scam. I was just curious did everyone else speak with Stephen Carter and then Nolan Mckay?
| thomas 2010-03-15 14:52:12 Unknown |
i know you will get scammed
| thomas 2010-03-15 14:50:11 Unknown |
everyone did better than i cause i sent them 4500.00 an i never got anything
| thomas 2010-03-15 14:46:33 Unknown |
please dont do it please just avoid it call the police an play around until the police investigate it
| angela 2010-03-14 23:32:47 Unknown |
Oh no, honey. Their website is even no longer to be found. Filed with Illinois Attorney General..
| Lisa H. 2010-03-14 15:01:56 Unknown |
UPDATE: Definitely a money scam. Neither website or telephone number exist any longer.
| Lisa H. 2010-03-14 14:58:11 Unknown |
UPDATE: We have established that this number was associated with a money scam. Neither website or telephone number exists any longer. Never send any upfront money to anyone who guarantees you a loan.
| Erica McFarland 2010-03-13 21:24:55 Unknown |
I am so thankful for doing some research, I was about to sent the 800 in advance. I thought it was a little strange that they have no website and no valid phone number. Thank God I found all of u guys to tell me about Mr. Daniel Richardson and all of his crooked scamming friends!
| Nikki 2010-03-12 01:34:13 Unknown |
I got approved for a 10,000 dollar loan I sent them almost $3000 dollars and they said that I would have the money in by March 12, 2010 my husband tried to call them today to see if they had my bank number correctly the number was disconnected. I was dealing with James Snyder at 1-877-897-3243 ext. 612 so if anyone gets a call from them its a big scam.
| Jennifer 2010-03-11 23:22:51 Unknown |
I was scammed out of over $6000 for a $60,000 personal loan by this company. I dealt with Ryan Davis ext 234 to start with & later with Nolan McKay ext 391. I Western Unioned this money to Susan Henson in North York Ontario Canada & Amanda Starcher in Milton Ontario Canada. Their website is now gone & their phone has been disconnected...I have filed complaints with www.ftc.gov, the Illinois Attorney General, Western Union, Phone busters in Canada, www.ic3.gov, & called the FBI..They will all work together to catch these people. Maybe if everybody who was victimized does the same thing (files complaints against the company everywhere you can) it will help catch these people quicker.
| BOBBI 2010-03-11 20:50:24 Unknown |
I ALL SENT THEM 800.00 DOLLOR AND HAVE NOT RECIEVED ANY THING IAM TRING TO REACH THEM IF ANY ONE HAS ANY INFORMATION PLEASE POST IT
| JENNIFER 2010-03-11 04:48:42 Unknown |
Nolan is who we are dealing with also sent 1800.00 and were suppose to get our money 2/19 then on 3/5 now they won't even answer there phone this is just horrible
| jennifer 2010-03-11 04:39:10 Unknown |
Hello we are in the same case did you ever receive your money?
| Sara 2010-03-10 00:48:15 Unknown |
This happened to me as well.. same deal, got approved for a debt consolidation loan for 8000, I had to put down 1800 up front. I couldn't find anything online about them (this was back in the beginning of February) except their website. I agree, it looked legitimate. After I sent the money on a Friday, to Emily Major in North York (Canada), I never received the loan funds. I had dealt with James Snyder for the original loan, then Nolan McKay returned my call about not receiving the loan funds. McKay kept offering me a 12000 loan, if I were to send an additional 400 some odd dollars. I said no, that I wanted my money back, and he said I would get it on March 1st. Then he backtracked, and said I would receive it on March 5th. Of course, the money was not deposited to my account on March 5th. I called him at the end of the day, and he said they were having trouble with the PCH clearing (electronic transfer trouble at an equity group? get real). He told me he was sending out a certified check for the money, and that I should have it by Monday - yesterday, March 8th. Still no check as of today, Tuesday March 9th. I have not, as yet filed a formal complaint or called the police, but I will be calling the BBB, the Illinois State Police, a lawyer, and anyone else I can think of tomorrow. FYI.. when I checked my mailbox tonight and no check, I called the 877-897-3243 number (for the umpteenth time, and all it said was "goodbye" and hung up. I am out (including western union fees, did anyone else do this?) a total of $2176, which I absolutely cannot afford. Desperation makes me stupid, I guess.
(
(
| Michelle 2010-03-08 23:09:53 Unknown |
the same thing happened to me. I sent them $1,600 and never got any funds in return. I'd like to know if anyone has filed a police report or made any formal complaint. If anyone can help out with this, please email me at: michelle_cajas@yahoo.com
| Tim 2010-03-05 21:39:34 Unknown |
This is a BIG SCAM. They did the same thing send them the money and the next business day get the loan. They wanted six months advance and then it went to ten months and never get the money. We wanted a refund and are still waiting for the funds. Gave us nine different transaction numbers for the bank and they were never the right ones. I am also going to contact the BBB about this business. If they contact you don't walk away RUN. The person we sent the money to was Maria Fulton, North York Ontario Canada. We talked to James Snyder and the customer service manager Nolan McKay. Do not do business with these people!
| Stacey 2010-03-02 05:57:07 Unknown |
I called them again today and DEMANDED a refund. Nolan McCain at ext 391 informed me that I would receive my refund by March 12. He told me to ignore all the bad press online. WTF. are they crazy??????
| cj 2010-03-02 03:08:21 Unknown |
you can kiss the 1800 goodbye......these guys are bunch of crook
| cj 2010-03-02 03:03:25 Unknown |
don"t send this guys any money the adress they give does not exist the whole thing is a big scam.....dont do it save your money ......
.
.
| LAMET 2010-03-01 16:43:42 Unknown |
ITS CALLED AN ADVANCE FEE LOAN SCAM -
REQUESTING MONEY UPFRONT IS ILLEGAL AND THEY COUNT ON YOU NOT DOING THE RESEARCH ON THE INTERNET (www.ftc.gov has this scam as well as a MANY OTHERS)
They prey on those with Bad credit and who CANNOT AFFORD TO LOSE MONEY!
Just When You Thought It Was Safe...Advance-Fee Loan "Sharks"
http://www.ftc.gov/bcp/edu/pubs/consumer/alerts/alt028.shtm
Just When You Thought It Was Safe...Advance-Fee Loan "Sharks"
A different breed of "loan shark" is preying on unwary consumers by taking their money for the promise of a loan, credit card or other extension of credit.
Advertisements and promotions for advance-fee loans "guarantee" or suggest that there's a high likelihood of success that the loan will be awarded, regardless of the applicant's credit history. But, to take advantage of the offer, the consumer first has to pay a fee. And that's the catch: The consumer pays the fee, the scam artist takes off with the money, and the loan never materializes.
Legitimate guaranteed offers of credit do not require payments up front. Legitimate lenders may require consumers to pay application, appraisal or credit report fees, but these fees seldom are required before the lender is identified and the application completed. In addition, the fees generally are paid to the lender, not to the broker or arranger of the "guaranteed" loan.
Legitimate lenders may guarantee firm offers of credit to credit-worthy consumers, but they rarely do this before evaluating a consumer's creditworthiness.
Advertisements for advance-fee loans generally appear in the classified section of daily and weekly newspapers and magazines. Often, the ads feature "900" numbers, which result in charges on your phone bill. Advance-fee loans also are promoted through direct mail and radio and cable TV spots. The appearance of ads in media outlets that you recognize - like your local newspaper or radio station - is no guarantee of the legitimacy of the company behind the ad.
The Federal Trade Commission says you can avoid being bitten by advance-fee loan sharks: Here's how:
Don't pay for a promise. It's illegal for companies doing business by phone to promise you a loan and ask you to pay for it before they deliver.
Ignore any ad - or hang up on any caller - that guarantees a loan in exchange for an advance fee. Legitimate lenders never "guarantee" or say that you will receive a loan before you apply, especially if you have bad credit or no credit record.
Never give your credit card or bank account numbers, or Social Security Number, over the telephone unless you are familiar with the company and know why the information is necessary.
The FTC works for the consumer to prevent fraudulent, deceptive, and unfair business practices in the marketplace and to provide information to help consumers spot, stop, and avoid them. To file a complaint or to get free information on consumer issues, visit ftc.gov or call toll-free, 1-877-FTC-HELP (1-877-382-4357); TTY: 1-866-653-4261. The FTC enters consumer complaints into the Consumer Sentinel Network, a secure online database and investigative tool used by hundreds of civil and criminal law enforcement agencies in the U.S. and abroad.
May 2000
Advance-Fee Loan Scams: ?Easy? Cash Offers Teach Hard Lessons
http://www.ftc.gov/bcp/edu/pubs/consumer/telemarketing/tel16.shtm
Advance-Fee Loan Scams: ?Easy? Cash Offers Teach Hard Lessons
Looking for a loan or credit card but don?t think you?ll qualify? Turned down by a bank because of your poor credit history?
You may be tempted by ads and websites that guarantee loans or credit cards, regardless of your credit history. The catch comes when you apply for the loan or credit card and find out you have to pay a fee in advance. According to the Federal Trade Commission (FTC), the nation?s consumer protection agency, that could be a tip-off to a rip-off. If you?re asked to pay a fee for the promise of a loan or credit card, you can count on the fact that you?re dealing with a scam artist. More than likely, you?ll get an application, or a stored value or debit card, instead of the loan or credit card.
The Signs of an Advance-Fee Loan Scam
The FTC says some red flags can tip you off to scam artists? tricks. For example:
A lender who isn?t interested in your credit history. A lender may offer loans or credit cards for many purposes ? for example, so a borrower can start a business or consolidate bill payments. But one who doesn?t care about your credit record should give you cause for concern. Ads that say ?Bad credit? No problem? or ?We don?t care about your past. You deserve a loan? or ?Get money fast? or even ?No hassle ? guaranteed? often indicate a scam.
Banks and other legitimate lenders generally evaluate creditworthiness and confirm the information in an application before they guarantee firm offers of credit ? even to creditworthy consumers.
Fees that are not disclosed clearly or prominently. Scam lenders may say you?ve been approved for a loan, then call or email demanding a fee before you can get the money. Any up-front fee that the lender wants to collect before granting the loan is a cue to walk away, especially if you?re told it?s for ?insurance,? ?processing,? or just ?paperwork.?
Legitimate lenders often charge application, appraisal, or credit report fees. The differences? They disclose their fees clearly and prominently; they take their fees from the amount you borrow; and the fees usually are paid to the lender or broker after the loan is approved.
It?s also a warning sign if a lender says they won?t check your credit history, yet asks for your personal information, such as your Social Security number or bank account number. They may use your information to debit your bank account to pay a fee they?re hiding.
A loan that is offered by phone. It is illegal for companies doing business in the U.S. by phone to promise you a loan and ask you to pay for it before they deliver.
A lender who uses a copy-cat or wanna-be name. Crooks give their companies names that sound like well-known or respected organizations and create websites that look slick. Some scam artists have pretended to be the Better Business Bureau or another reputable organization, and some even produce forged paperwork or pay people to pretend to be references. Always get a company?s phone number from the phone book or directory assistance, and call to check they are who they say they are. Get a physical address, too: a company that advertises a PO Box as its address is one to check out with the appropriate authorities.
A lender who is not registered in your state. Lenders and loan brokers are required to register in the states where they do business. To check registration, call your state Attorney General?s office or your state?s Department of Banking or Financial Regulation. Checking registration does not guarantee that you will be happy with a lender, but it helps weed out the crooks.
A lender who asks you to wire money or pay an individual. Don?t make a payment for a loan or credit card directly to an individual; legitimate lenders don?t ask anyone to do that. In addition, don?t use a wire transfer service or send money orders for a loan. You have little recourse if there?s a problem with a wire transaction, and legitimate lenders don?t pressure their customers to wire funds.
Finally, just because you?ve received a slick promotion, seen an ad for a loan in a prominent place in your neighborhood or in your newspaper, on television or on the Internet, or heard one on the radio, don?t assume it?s a good deal ? or even legitimate. Scam artists like to operate on the premise of legitimacy by association, so it?s really important to do your homework.
Finding Low-Cost Help for Credit Problems
If you have debt problems, try to solve them with your creditors as soon as you realize you won?t be able to make your payments. If you can?t resolve the problems yourself or need help to do it, you may want to contact a credit counseling service. Nonprofit organizations in every state counsel and educate people and families on debt problems, budgeting, and using credit wisely. Often, these services are low- or no-cost. Universities, military bases, credit unions, and housing authorities also may offer low- or no-cost credit counseling programs. To learn more about dealing with debt, including how to select a credit counseling service, visit ftc.gov/credit.
Where to Complain
If you think you?ve had an experience with an advance-fee loan scam, report it to the FTC.
The FTC works for the consumer to prevent fraudulent, deceptive, and unfair business practices in the marketplace and to provide information to help consumers spot, stop, and avoid them. To file a complaint or to get free information on consumer issues, visit ftc.gov or call toll-free, 1-877-FTC-HELP (1-877-382-4357); TTY: 1-866-653-4261. The FTC enters consumer complaints into the Consumer Sentinel Network, a secure online database and investigative tool used by hundreds of civil and criminal law enforcement agencies in the U.S. and abroad.
April 2008
REQUESTING MONEY UPFRONT IS ILLEGAL AND THEY COUNT ON YOU NOT DOING THE RESEARCH ON THE INTERNET (www.ftc.gov has this scam as well as a MANY OTHERS)
They prey on those with Bad credit and who CANNOT AFFORD TO LOSE MONEY!
Just When You Thought It Was Safe...Advance-Fee Loan "Sharks"
http://www.ftc.gov/bcp/edu/pubs/consumer/alerts/alt028.shtm
Just When You Thought It Was Safe...Advance-Fee Loan "Sharks"
A different breed of "loan shark" is preying on unwary consumers by taking their money for the promise of a loan, credit card or other extension of credit.
Advertisements and promotions for advance-fee loans "guarantee" or suggest that there's a high likelihood of success that the loan will be awarded, regardless of the applicant's credit history. But, to take advantage of the offer, the consumer first has to pay a fee. And that's the catch: The consumer pays the fee, the scam artist takes off with the money, and the loan never materializes.
Legitimate guaranteed offers of credit do not require payments up front. Legitimate lenders may require consumers to pay application, appraisal or credit report fees, but these fees seldom are required before the lender is identified and the application completed. In addition, the fees generally are paid to the lender, not to the broker or arranger of the "guaranteed" loan.
Legitimate lenders may guarantee firm offers of credit to credit-worthy consumers, but they rarely do this before evaluating a consumer's creditworthiness.
Advertisements for advance-fee loans generally appear in the classified section of daily and weekly newspapers and magazines. Often, the ads feature "900" numbers, which result in charges on your phone bill. Advance-fee loans also are promoted through direct mail and radio and cable TV spots. The appearance of ads in media outlets that you recognize - like your local newspaper or radio station - is no guarantee of the legitimacy of the company behind the ad.
The Federal Trade Commission says you can avoid being bitten by advance-fee loan sharks: Here's how:
Don't pay for a promise. It's illegal for companies doing business by phone to promise you a loan and ask you to pay for it before they deliver.
Ignore any ad - or hang up on any caller - that guarantees a loan in exchange for an advance fee. Legitimate lenders never "guarantee" or say that you will receive a loan before you apply, especially if you have bad credit or no credit record.
Never give your credit card or bank account numbers, or Social Security Number, over the telephone unless you are familiar with the company and know why the information is necessary.
The FTC works for the consumer to prevent fraudulent, deceptive, and unfair business practices in the marketplace and to provide information to help consumers spot, stop, and avoid them. To file a complaint or to get free information on consumer issues, visit ftc.gov or call toll-free, 1-877-FTC-HELP (1-877-382-4357); TTY: 1-866-653-4261. The FTC enters consumer complaints into the Consumer Sentinel Network, a secure online database and investigative tool used by hundreds of civil and criminal law enforcement agencies in the U.S. and abroad.
May 2000
Advance-Fee Loan Scams: ?Easy? Cash Offers Teach Hard Lessons
http://www.ftc.gov/bcp/edu/pubs/consumer/telemarketing/tel16.shtm
Advance-Fee Loan Scams: ?Easy? Cash Offers Teach Hard Lessons
Looking for a loan or credit card but don?t think you?ll qualify? Turned down by a bank because of your poor credit history?
You may be tempted by ads and websites that guarantee loans or credit cards, regardless of your credit history. The catch comes when you apply for the loan or credit card and find out you have to pay a fee in advance. According to the Federal Trade Commission (FTC), the nation?s consumer protection agency, that could be a tip-off to a rip-off. If you?re asked to pay a fee for the promise of a loan or credit card, you can count on the fact that you?re dealing with a scam artist. More than likely, you?ll get an application, or a stored value or debit card, instead of the loan or credit card.
The Signs of an Advance-Fee Loan Scam
The FTC says some red flags can tip you off to scam artists? tricks. For example:
A lender who isn?t interested in your credit history. A lender may offer loans or credit cards for many purposes ? for example, so a borrower can start a business or consolidate bill payments. But one who doesn?t care about your credit record should give you cause for concern. Ads that say ?Bad credit? No problem? or ?We don?t care about your past. You deserve a loan? or ?Get money fast? or even ?No hassle ? guaranteed? often indicate a scam.
Banks and other legitimate lenders generally evaluate creditworthiness and confirm the information in an application before they guarantee firm offers of credit ? even to creditworthy consumers.
Fees that are not disclosed clearly or prominently. Scam lenders may say you?ve been approved for a loan, then call or email demanding a fee before you can get the money. Any up-front fee that the lender wants to collect before granting the loan is a cue to walk away, especially if you?re told it?s for ?insurance,? ?processing,? or just ?paperwork.?
Legitimate lenders often charge application, appraisal, or credit report fees. The differences? They disclose their fees clearly and prominently; they take their fees from the amount you borrow; and the fees usually are paid to the lender or broker after the loan is approved.
It?s also a warning sign if a lender says they won?t check your credit history, yet asks for your personal information, such as your Social Security number or bank account number. They may use your information to debit your bank account to pay a fee they?re hiding.
A loan that is offered by phone. It is illegal for companies doing business in the U.S. by phone to promise you a loan and ask you to pay for it before they deliver.
A lender who uses a copy-cat or wanna-be name. Crooks give their companies names that sound like well-known or respected organizations and create websites that look slick. Some scam artists have pretended to be the Better Business Bureau or another reputable organization, and some even produce forged paperwork or pay people to pretend to be references. Always get a company?s phone number from the phone book or directory assistance, and call to check they are who they say they are. Get a physical address, too: a company that advertises a PO Box as its address is one to check out with the appropriate authorities.
A lender who is not registered in your state. Lenders and loan brokers are required to register in the states where they do business. To check registration, call your state Attorney General?s office or your state?s Department of Banking or Financial Regulation. Checking registration does not guarantee that you will be happy with a lender, but it helps weed out the crooks.
A lender who asks you to wire money or pay an individual. Don?t make a payment for a loan or credit card directly to an individual; legitimate lenders don?t ask anyone to do that. In addition, don?t use a wire transfer service or send money orders for a loan. You have little recourse if there?s a problem with a wire transaction, and legitimate lenders don?t pressure their customers to wire funds.
Finally, just because you?ve received a slick promotion, seen an ad for a loan in a prominent place in your neighborhood or in your newspaper, on television or on the Internet, or heard one on the radio, don?t assume it?s a good deal ? or even legitimate. Scam artists like to operate on the premise of legitimacy by association, so it?s really important to do your homework.
Finding Low-Cost Help for Credit Problems
If you have debt problems, try to solve them with your creditors as soon as you realize you won?t be able to make your payments. If you can?t resolve the problems yourself or need help to do it, you may want to contact a credit counseling service. Nonprofit organizations in every state counsel and educate people and families on debt problems, budgeting, and using credit wisely. Often, these services are low- or no-cost. Universities, military bases, credit unions, and housing authorities also may offer low- or no-cost credit counseling programs. To learn more about dealing with debt, including how to select a credit counseling service, visit ftc.gov/credit.
Where to Complain
If you think you?ve had an experience with an advance-fee loan scam, report it to the FTC.
The FTC works for the consumer to prevent fraudulent, deceptive, and unfair business practices in the marketplace and to provide information to help consumers spot, stop, and avoid them. To file a complaint or to get free information on consumer issues, visit ftc.gov or call toll-free, 1-877-FTC-HELP (1-877-382-4357); TTY: 1-866-653-4261. The FTC enters consumer complaints into the Consumer Sentinel Network, a secure online database and investigative tool used by hundreds of civil and criminal law enforcement agencies in the U.S. and abroad.
April 2008
| Stacey 2010-03-01 08:41:18 Unknown |
WOW. I can not believe what I am reading. I sent them a total of 1800 dollars. I was alarmed when they asked me to send an additional 480. I did not send the 480. I have been dealing with Nolan McKain . He stated to me if I do not want to go through with the loan . They would issue me a FULL refund. Is that wishful thinking? How can they get away with this?
| angela 2010-02-27 16:45:03 Unknown |
They told me they were an affililate of Wells Fargo. (Daniel Richardson actually told me that.) They are predators!
| Lisa 2010-02-27 11:03:21 Unknown |
Keth Lewis x719 - Same person who called me. I actually requested some debt consolidation laon information online and got these crooks calling. I knew it was fishy when they never asked for any employment verification information or credit information. They lied and said they were affiliated w/ lendingtree.com.
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