BBB Warns Consumers About Loan Scam
PRLog (Press Release) –
Jul 08, 2009 – Media Contacts:
Cindy Stranad
919.232.5008
cindy@articulon.com
Beverly Baskin
919.277.4202
bbaskin@raleigh.bbb.org
BBB Warns Consumers About Loan Scam
Company Using a Vacant Winston-Salem Address
RALEIGH, N.C. (July 7, 2009)—Better Business Bureau of Eastern North Carolina (www.bbb.org) is warning consumers about an advance-fee loan company that is targeting individuals, via the internet, who have poor credit history and difficulty obtaining traditional loans.
Consumers are reporting that Bloomfield Lending Group is using a vacant Winston-Salem, N.C. address and claiming to have been in business for 10 years. According to the property manager at the address being used, the space has been empty for several years. Bloomfield provides telephone numbers that are not local, and no information on the company’s location can be found at its Web site, www.bloomfieldlending.com. Bloomfield claims to be licensed in the state of North Carolina, but BBB has found no such record with the N.C. Banking Commission.
“The false promise of hope being offered by this illicit company can be appealing to people when they find themselves with financial hardship,” says Beverly Baskin, president and CEO of the Better Business Bureau of Eastern North Carolina. “It is more difficult than ever for families to be approved for various loans, and consumers have to know how to protect themselves against those looking to exploit this situation.”
According to the company’s loan contract, several monthly payments are required in advance, as “collateral” on the loan. Collecting money up-front, or advance fees, as a condition of credit approval is prohibited by the North Carolina General Statutes.
BBB of Eastern North Carolina advices consumers to use the following three warning signs to help identify possible advance-fee loan scams:
• Pressure to act immediately—scammers will try to get consumers to send money or give personal information out before providing detailed paperwork on the loan. Insist on receiving the proper paperwork before deciding to apply for credit.
• Non-interest in a consumer’s credit history—lenders that do not care about your credit record. Ads that downplay bad credit, promise fast money or guarantee approval are often a sign of a scam.
• Loans offered by phone—the Federal Trade Commission states that it is illegal for companies doing business in the U.S. by phone to promise a loan or ask an individual to pay for the loan before delivery.
Additional information on this and other scams is available at www.bbb.org.
CONSUMER ALERTS FOR JULY 2009
In an effort to keep the media and public informed, the Better Business Bureau of Eastern North Carolina offers monthly BBB Consumer Alerts as potential story or interview ideas. Readers should take into consideration the importance of the practice in question and the total performance of a company. This list is current as of release date. Information regarding business or consumer topics reported here can be obtained through the BBB office by contacting info@raleigh.bbb.org.
Online Business Bureau is an online organization presenting itself as the “better alternative” to the Better Business Bureau for “consumers to investigate whether a business is legitimate.” The organization charges dues for businesses to join and use their seal. They allow any business to join, regardless of their standards or history. The Online Business Bureau currently has no rating with the BBB for a lack of information. BBB warns consumers to be cautious of “sound-alike” businesses and charities that may use common names in their title to play on a consumer’s view of well-known businesses.
The TJX Companies Inc., headquartered in Natick, Massachusetts, will pay $9.75 million to North Carolina and 40 other states in addition to developing a new information security program for shoppers. TJX properties include 55 T.J. Maxx, Marshalls and HomeGoods stores in North Carolina. This settlement comes from government actions following an investigation of TJX’s data security practices. A data breach was discovered in 2007 and criminals were found to have the ability to hack into TJX computer systems to steal tens of millions of credit and debit card numbers used by shoppers at TJX stores. The BBB has received a total of 94 complaints against TJX Companies Inc. in the past 36 months. BBB reminds consumers to check their account statements monthly to monitor activity. Should any fraudulent charges have been made, a consumer should freeze their account and notify their credit provider.
E-mails claiming to represent the FBI are circulating and scammers are audacious enough to send them under the names of existing FBI executives. Local consumers, including one in Wake Forest, have received these e-mails. The e-mails appear to be official press releases endorsing correspondence with Nigeria and other countries overseas that require exchange of personal information and money. The e-mails and the Central Bank of Nigeria are both fraudulent. This scam is recognized as one on the rise by the National Council for Financial Literacy, as well as the BBB. BBB suggests consumers research any claims and companies before disclosing personal information or paying money to receive reimbursement. If a claim sounds too good to be true, it usually is a scam.
BBZ Resource Management claims to help businesses boost sales and keep customers by offering them a chance to advertise free gas and grocery gift cards. The Arizona-based company sells vouchers to companies who in turn offer the vouchers to their customers. Residents in 40 states, including North Carolina, are contacting the BBB about vouchers after failed attempts to redeem. BBZ Resource Management currently has an “F” rating with BBB, the lowest rating given.
Gamepal Inc. is a gaming company based in Raleigh that interacts with international and local consumers. According to its Web site Gamepal buys, trades and sells online gaming tools including virtual characters. There have been different complaints against the company, including one from consumers who sell their accounts to Gamepal Inc. and receive a check for their virtual accounts for games like “World of Warcraft.” Afterward, Gamepal Inc. accuses consumers of “taking back” their account. Consumers are contacted repeatedly by the company and collection agencies to pay for accounts that are no longer used by the consumers. Warnings have been issued in the past by many consumer resources for caution to be exercised in business transactions with Gamepal Inc. In June, 2009, Gamepal Inc. was once again listed in BBB’s top 25 companies with complaint activity. Gamepal Inc. has received 142 complaints in the last 36 months and currently has an “F” rating with the BBB.
Bloomfield Lending Group is an advance-fee lending company claiming to be based in Winston-Salem, North Carolina. A consumer inquiry indicates the company was offering a $5,000.00 loan at six percent interest. The consumer would be required to pay the first five monthly payments in advance as collateral on the loan. According North Carolina law, loans requiring an advance fee are illegal. Bloomfield Lending Group currently has an “F” rating with the BBB. Some of the reasons this company has the lowest rating given by BBB include: failure to obtain a required competency license, concerns with the industry in which the business operates and lack of sufficient background information on this business.
# # #
About BBB of Eastern North Carolina:
The Better Business Bureau of Eastern North Carolina is a 501 (c)(6) not-for-profit corporation serving 33 counties in eastern North Carolina. The organization is funded primarily by BBB Accredited Business fees from more than 3,200 local business and professional firms. The BBB promotes integrity, consumer confidence and business ethics through business self-regulation in the local marketplace. Services provided by the BBB include, reports on companies and charitable organizations, general monitoring of advertising in the marketplace, dispute resolution services, and consumer/business education programs. All services are provided at no cost to the public, with the occasional exception of mediation and arbitration. Visit www.bbb.org.
- Medical Personnel Recruitment Firm Launches New Website Targeting Physical Therapists
- Here’s why we shouldn’t trust Google results!
- Surefire Trading Challenge to Be Opened on June 9th
- Fentimans Ginger Beer named 2009 sofi ™ Silver Finalist By the NASFT
- New Master Licensees for Mars Venus Coaching in Colorado
- Taste Of Troost 7621 Troost July 4th 2009 11am-7pm Free! Music Food Fun
- SEO Solutions from Infusionsoft Consulting Canada and LotusJump
- Mark Victor Hansen Shows How To End The Recession In Ireland!
- Summer is Here- 10 Ways To Cut Your Fuel Costs
- Bharatbook.com : Market potential & growth of Organic and printed Electronics in North America
- Israeli Diamond Portal Reports: Every-Diam – When You Need that Very Special Diamond
- Mindset Series® Announces New Web Site Launch
- GMA Capital Commercial Real Estate Funding
- Do You Understand What To Do In The Optical Industry?
- Rental car insurance? You might already be covered
PRLog (Press Release) – Jun 08, 2009 – InSearch Inc., a Rome based personnel recruitment agency, has launched a new website to reach professionals in the physical therapy business as well as employers seeking physical therapists, occupational therapists, and therapy assistants. The agency works wi
PRLog (Press Release) – Jun 06, 2009 – There would be hardly any computer user in the today’s world that might not have used Google for searching the internet. Google has become synonymous to search over the internet. We all trust Google results and there is no doubt about the quality of search res
PRLog (Press Release) – Jun 08, 2009 – Mark McRae is about to open the doors to his elite membership site called the Surefire Trading Challenge. The doors were opened to this site back in March for a few lucky individuals, however they were quickly closed due to the flood of members that joined th
PRLog (Press Release) – Jun 10, 2009 – “We are honored that Fentimans was chosen by some of the leading epicurean judges in the industry,” said Craig James, CEO of Fentimans North America. “The Ginger Beer is our flagship soda and is brewed & fermented over 7 days for amazing aroma and flavour. Th
PRLog (Press Release) – Jun 14, 2009 – Mars Venus Coaching recently announced that Pam and Scott Lippitt have joined the Coaching family as Master Franchisees of Colorado and certified Mars Venus success coaches. The Lippitts have been married for 18 years and have two sons. Scott specialize in
PRLog (Press Release) – Jun 16, 2009 – Contact: Adam Fichman Lifted Logic, LLC 816.298.7018 adam@liftedlogic.com www.liftedlogic.com www.tasteoftroost.com 7TH HEAVEN & LIFTED LOGIC ANNOUNCE ENTERTAINMENT LINEUP FOR FREE 4TH OF JULY COMMUNITY CONCERT Retail store teams up with design studio to bri
PRLog (Press Release) – Jun 17, 2009 – Infusionsoft Consulting Canada and LotusJump have just announced that they have teamed up to provide LotusJump’s incredible SEO service to the Infusionsoft user community through the help of Infusionsoft Consulting Canada. LotusJump is a great SEO solution for
PRLog (Press Release) – Jun 01, 2009 – http://www.LifeLastingSuccess.com - Co-author of the world bestselling Chicken Soup For The Soul book series, and The One Minute Millionaire Mark Victor Hansen was among the line up of millionaire entrepreneurs that met in Dublin last weekend for the inaugural
PRLog (Press Release) – Jun 01, 2009 – Fuel is now the HIGHEST operating cost as it has recently overtaken labour as #1. Understandably, as fuel prices continue to rise, everyone wants to reduce their exposure to rising costs In order to help businesses put a leash on fuel costs, we’ve compiled the
PRLog (Press Release) – Jul 13, 2009 – Organic and Printed Electronics in North America This is the world’s first and only report analysing the subject in depth. It compares and analyses the activities of 208 organizations in North America by technology and region. It gives full contact details of
PRLog (Press Release) – Jul 05, 2009 – Roni Abramov, owner of the Every-Diam diamond company, has seen it all since establishing his firm in 1980. Abramov started out as a diamond polisher and he still regards diamond polishing as the heart and soul of his company. Abramov notes: “Today we deal mai
PRLog (Press Release) – Jun 17, 2009 – Overland Park, KS, - Sally Smith, Founder/CEO of Smith & Associates, Inc. announced that a new web site for the Mindset Series ® has been launched. The new web site reflects the dynamic nature of the Mindset Series ® products and the recently announced distrib
PRLog (Press Release) – Jun 08, 2009 – Commercial Real Estate Financing: Discover Our Creative Solution Since 1980, GMA has been providing tailor made financing for all types of commercial real estate properties with a very experienced, professional team Nationally and Internationally. We welcome t
PRLog (Press Release) – Jul 09, 2009 – This article is to assist you in understanding a few things in the optical industry. It also expresses why using CD, DVD and CD Business Card is a great method to advertise your business. Far too often you miss that conference, demo release or just that one im
PRLog (Press Release) – Jul 22, 2009 – Phoenix-AZ–If air travel plans are in your future, chances are good you’ll drive a rental car. When you meet the customer service representative of the rental agency, one of the first questions he or she is likely to ask is whether you want to buy the optiona