Post by Scambuster on Nov 17, 2009 13:39:46 GMT -5
Scammers targeting loan seekers
GILLIAN SLADE
gslade@medicinehatnews.comThis e-mail address is being protected from spam bots, you need JavaScript enabled to view it
The sharks are on the prowl once more and Hatters are being warned about scams operating in this region.
A local resident lost more than $3000 in a scam and the Better Business Bureau is warning residents to be wary.
The Hatter applied for a $10,000 loan and was asked to make four successive advance-fee payments totalling $3381 in order to secure the loan.
The payments were made to Avian Lending Solutions based in Cleveland, Ohio, who requested the money to cover insurance, brokerage, exchange and closing fees. They failed to supply the loan and simply ceased all communication with the Hatter after they had the money.
“Advance-fee schemes have been around for years and they tend to target those least able to afford to lose the money,” said Daniel MacDonald, spokesperson for the Better Business Bureau. “There is no reason why you should ever have to pay up-front for a loan - if there are fees, they should come out of the loan amount upon completion of the transaction.”
Both the Better Business Bureau for Southern Alberta and the one in Cleveland have found Avian Lendin Solution’s address information, which appeared on their website, was inaccurate. The website was launched in July and registered to a private firm in Markham, Ontario, who performs a registering function on behalf of other companies to protect their identity.
MacDonald points out “advance fee loan” brokers should not be confused with mortgage brokers who actually arrange real estate loans or even money lenders such as banks and credit unions.
“Loan brokers advertise in newspaper classified advertisements hoping to attract consumers or business owners with the promise of guaranteed, low interest loans to consolidate debts and clean up credit records,” said MacDonald.
The Better Business Bureau has found very few loans are granted by this type of company.
They urge anyone who has paid an Alberta loan broker an advance fee to contact the bureau by email at medicinehat.bbb.org or phone Service Alberta at 1-877-427-4088.
If you would like additional information please call Daniel MacDonald at 403-531-8685 or by email Daniel@calgary.bbb.orgThis e-mail address is being protected from spam bots, you need JavaScript enabled to view it
www.medicinehatnews.com/content/view/134511/
GILLIAN SLADE
gslade@medicinehatnews.comThis e-mail address is being protected from spam bots, you need JavaScript enabled to view it
The sharks are on the prowl once more and Hatters are being warned about scams operating in this region.
A local resident lost more than $3000 in a scam and the Better Business Bureau is warning residents to be wary.
The Hatter applied for a $10,000 loan and was asked to make four successive advance-fee payments totalling $3381 in order to secure the loan.
The payments were made to Avian Lending Solutions based in Cleveland, Ohio, who requested the money to cover insurance, brokerage, exchange and closing fees. They failed to supply the loan and simply ceased all communication with the Hatter after they had the money.
“Advance-fee schemes have been around for years and they tend to target those least able to afford to lose the money,” said Daniel MacDonald, spokesperson for the Better Business Bureau. “There is no reason why you should ever have to pay up-front for a loan - if there are fees, they should come out of the loan amount upon completion of the transaction.”
Both the Better Business Bureau for Southern Alberta and the one in Cleveland have found Avian Lendin Solution’s address information, which appeared on their website, was inaccurate. The website was launched in July and registered to a private firm in Markham, Ontario, who performs a registering function on behalf of other companies to protect their identity.
MacDonald points out “advance fee loan” brokers should not be confused with mortgage brokers who actually arrange real estate loans or even money lenders such as banks and credit unions.
“Loan brokers advertise in newspaper classified advertisements hoping to attract consumers or business owners with the promise of guaranteed, low interest loans to consolidate debts and clean up credit records,” said MacDonald.
The Better Business Bureau has found very few loans are granted by this type of company.
They urge anyone who has paid an Alberta loan broker an advance fee to contact the bureau by email at medicinehat.bbb.org or phone Service Alberta at 1-877-427-4088.
If you would like additional information please call Daniel MacDonald at 403-531-8685 or by email Daniel@calgary.bbb.orgThis e-mail address is being protected from spam bots, you need JavaScript enabled to view it
www.medicinehatnews.com/content/view/134511/