Post by Scambuster on Nov 17, 2009 18:39:41 GMT -5
Consumer Alert
Echo Premium Lenders & Financial
Advance Fee Loan Scam
The Washington State Department of Financial Institutions (DFI) is warning consumers to verify the license of any lending professional they are considering doing business with to avoid becoming victims of potential scams.
Echo Premium Lenders & Financial may be conducting a loan scam.
Echo Premium Lenders & Financial may have used the website echopremiumlf.com, but it appears to no longer be available. They have a listed address of:
1617 John F. Kennedy Blvd, Suite 1260
Philadelphia, PA 19103
This does not appear to be a valid address for Echo Premium Lender & Financial. Neither the Washington State Department of Revenue nor the Office of the Secretary of State shows that Echo Premium Lender & Financial is authorized to do business in Washington. The company is not licensed by the Department of Financial Institutions.
How The Potential Scam Works
Consumers apply for a loan on the internet
Consumers are advised that they have been approved for a loan and must send a “premium payment” in advance of the loan disbursement and that after funds are received Echo Premium Lender & Financial will provide the loan funds
Once consumers send the money no loan is ever made
When contacting Echo Premium Lender & Financial inquiring about the loan funds, consumers may be asked to provide additional funds
www.dfi.wa.gov/consumers/alerts/echo-premium-lenders-financial.htm
Echo Premium Lenders & Financial
Advance Fee Loan Scam
The Washington State Department of Financial Institutions (DFI) is warning consumers to verify the license of any lending professional they are considering doing business with to avoid becoming victims of potential scams.
Echo Premium Lenders & Financial may be conducting a loan scam.
Echo Premium Lenders & Financial may have used the website echopremiumlf.com, but it appears to no longer be available. They have a listed address of:
1617 John F. Kennedy Blvd, Suite 1260
Philadelphia, PA 19103
This does not appear to be a valid address for Echo Premium Lender & Financial. Neither the Washington State Department of Revenue nor the Office of the Secretary of State shows that Echo Premium Lender & Financial is authorized to do business in Washington. The company is not licensed by the Department of Financial Institutions.
How The Potential Scam Works
Consumers apply for a loan on the internet
Consumers are advised that they have been approved for a loan and must send a “premium payment” in advance of the loan disbursement and that after funds are received Echo Premium Lender & Financial will provide the loan funds
Once consumers send the money no loan is ever made
When contacting Echo Premium Lender & Financial inquiring about the loan funds, consumers may be asked to provide additional funds
www.dfi.wa.gov/consumers/alerts/echo-premium-lenders-financial.htm