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02/26/2013
Don’t Bet When Borrowing
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10/31/2012
The Internet Crime Complaint Center (IC3) says it’s a variation of the payday loan scam.
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08/15/2012
The Consumer Fraud Task Force urges consumers to recognize the most common tactics used by crooks, such as asking victims to send back money using Western Union, MoneyGram or Green Dot MoneyPaks.
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02/02/2012
NATIONAL BBB ALERT - An advanced fee loan company, GreenPoint Capital located in Lansing, Michigan, has been named by four consumers contacting the BBB, inquiring about their business practices. One consumer informed the BBB that GreenPoint Capital did not honor the contract she made with them after paying $800.00 by wire transfer. The consumer was told a $5000.00 loan would be in her account on 1/31/2012. The money was not provided, and the company representative called to ask for another $800.00, saying they needed more security on the loan. This consumer says GreenPoint Capital took everything she had plus money she borrowed from someone else to get the $800.00 to take out a loan.
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07/15/2011
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.
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06/10/2011
Who doesn’t need a loan in these uncertain times, hence “advance” fee loan scams continually pop up. The Better Business Bureau of Western Michigan has been bombarded with phone calls, inquiries and complaints about a local address in Grand Rapids. The bad offer is from:
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08/02/2010
SCAM Company: Whitestone Credit Union
“Fake” Address: 15258 Millhouse Court
Grand Haven MI 49417
Scam Phone: 1-877-762-1458
Scam Website: www.whitestonecreditunion.com
Come on people; “advance fee loans” are a long term problem. “NEVER” send money to have to “secure” a loan. How many times do we have to report this before cash strapped consumers will check out all offers at www.bbb.org.
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08/02/2010
Ads on TV may promise to modify car loans and stave off a visit from the repo man, but some companies fail to carry through on their promises. The Better Business Bureau recommends that cash-strapped consumers save their money by trying to work out a deal with the lender directly before paying out hundreds in upfront fees to a loan modification company.
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06/14/2010
Come on people; “advance fee loans” are a long term problem. “NEVER” send money to have to “secure” a loan. How many times do we have to report this before cash strapped consumers will check out all offers at www.bbb.org.
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06/02/2010
Finding funding to start a business or bolster an existing one has been more difficult than usual lately. While the economy improves, banks are still reticent about lending to small business owners and the Better Business Bureau recommends developing a solid business plan to earn the bank’s trust and increase your chances of landing a loan.
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06/01/2010
Grand Rapids MI - June 1, 2010 - According to complaints filed with the Better Business Bureau, victims across the country have lost a total estimated quarter million dollars to advance fee loan scams this spring. Advance fee loan scams target individuals and small business owners who are desperate to get a loan and often take the victim for thousands of dollars.
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10/02/2009
Come on people; “advance fee loans” are a long term problem. “NEVER” send money to have to “secure” a loan. How many times do we have to report this before cash strapped consumers will check out all offers at www.bbb.org.
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02/01/2007
Using a credit line to borrow against the equity in your home has become a popular source of consumer credit. And lenders are offering these home equity credit lines in a variety of ways.
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01/01/2007
If you're refinancing your mortgage or applying for a home equity installment loan, you should know about the Home Ownership and Equity Protection Act of 1994 (HOEPA).
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05/01/2005
Advance-fee loan sharks are preying on unwary consumers, taking their money for the promise of a loan or credit, and leaving them in hot water. The scam artists often impersonate legitimate lenders to entice consumers into falling for their bogus offer.
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