For National Consumer Protection Week, we’ve solicited stories from our readers who had experiences with fraud in the past. Unfortunately, we’ve received many replies. I hope that by posting their stories, we can prevent others from falling victim to these scams. Let’s start with stories of advanced-fee loan scams:
I encountered an advanced-fee loan scam and they got me for $408.00. They called themselves "Prudent Financial Services" and used the phone number 1-800-765-7402. Please warn others. I was in no position to lose money and consequently lost my place to live.
- Sheri S.
We just had the same experience with Matrix Financial or Matrix Finance out of Minneapolis, Minnesota. They said in order to secure our loan that we would
have to wire them $1,899.99 in three payments as security. When we did this,
they then said we needed to wire them an additional $799.00 for
insurance. After this they wanted another $300 and some dollars
which we did not send. I don’t know who to contact to try to get our money back
or if it will be possible to even get it back we thought they were a good loan company but found
out the hard way they were not.
- Deb K.I am a victim of advanced-fee loan fraud from FairView Financial. I have
given them $1,300 dollars. I have filed a complaint with the BBB but to no avail,
I have not gotten anything from them. I am so glad to hear that you have found
out about this company. I hope they get what they deserved for doing what they
have done. As a result of this, I have been in worse financial
difficulty.
– Tanya J.
If you are a victim of advanced-fee loan fraud, it is important to immediately report the incident to the FTC and to PhoneBusters in Canada (because funds are usually sent to Canada). Victims can also try filing a police report, a claim with the FBI internet crime center and a complaint with the BBB. Letters to your state attorney general, local media and consumer advocacy groups like ConsumerAffairs.com can also help spread the word about this damaging scam.
If you have a fraud or scam story you would like to share, please email us at tidbits@credit.com or post in the comments section below.
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I was contacted from Pioneer Lending Resources 18883339776 stating that I had been approved for a $5000 loan. We faxed them over a copy of my drivers license, social secuirty card, and latest paystub. They asked me to moneygram them over a $600 depoist for the first four months payments, how stupid of me, but I did, and of course as all other stories, it was to Canada. The money was not depoisted into my account and when I called back they stated that they needed an additonal $600, again, I obliged. The money was never deposited into my account when I called to speak to Lindsay Price who was my direct contact she was either on break, in accounts payable, or no one by the name worked there. When asked where my money was, it is was either stuck in the Caymen Islands, or the computers were down. The man that answered the phone would speak to me in a normal voice or would then speak to me in an Indian accent. When I called there for two hours straight Lindsay finally got on the phone and asked me why I was so hostile, when I told her she was an idiot for even asking me that question her response was “I’m an idiot? Your the one that sent over the money.” Everyone in the background was laughing. There has to be something I can do about this.
I really hate to say this but … why would you pay for a loan up-front when you had not received any funds? Bottom line to all scams are: NEVER, NEVER GIVE OUT PERSONAL INFORMATION OVER PHONE OR THROUGH EMAIL and NEVER SEND MONEY TO ANYONE; especially when your in need of money. People are very slick these days. My first instinct of everyone is “bull @#$%”. You have to prove to me that you are legit and then after that you can kiss my butt because I still dont trust you… If the company is not a local business where I can sit down with representatives, read the brochures and see that your company has been their for years, I am uninterested.