BBB CONSUMER ALERT
FOR
Moral Lending Bureau of America
Another ADVANCE FEE LOAN SCAM
in Western Michigan area
Moral Lending Bureau of America
5780 Brewer Avenue NE
Belmont, MI 49306
Phone: 800-401-9160
Fax: 888-667-1240
www.morallendingbureauofamerica.com
Moral Lending Bureau of America was brought to the BBB’s attention on July 15, 2011. Initially, the company’s website stated that they were accredited with the BBB, which IS NOT the case; this company is NOT accredited with the BBB of Western Michigan. The BBB contacted the company via fax regarding this issue, and the company did remove the false statement.
The BBB has learned from the United States Postal Service that the address being used by the company does not exist.
The company purports to provide mortgages, business loans, personal loans, home equity loans, debt consolidation loans and second mortgage loans; however, as of July 15, 2011, the company is not licensed as a lender with the State of Michigan, Office of Financial and Insurance Regulation.
Based on information provided by consumers, the company requires an advanced fee in order to obtain the loan. As reported to the BBB, the fees range from $500 - $1300 and are either wired to various individuals in Canada or automatically debited from the consumer’s bank account.
Advanced-fee loans are illegal. Based on this information, the BBB advises extreme caution when dealing with this firm.