Advanced Fee Loan Scam Using Vacant Winston-Salem Address

6/26/2009

Winston Salem, NC – Bloomfield Lending Group is an advance fee loan company advertising on the internet and purporting to be located in Winston-Salem, when in fact they are not. The Better Business Bureau is warning consumers that this is a scam. This company is targeting individuals, via the internet, who have poor credit history and difficulty obtaining traditional loans.

According to consumers, the company claims to be located at 514 S. Stratford Road, Suite 110, Winston-Salem, NC, and that they have been in business for 10 years. BBB has confirmed there is no one located in that suite; the property manager confirms that space has been empty for several years. Telephone numbers provided by the company are not local numbers. The company claims to be licensed in the state of North Carolina, however, BBB can find no record of such with the NC Banking Commission. The company’s website www.bloomfieldlending.com offers no information on the company’s location, nor does it give consumers a way to contact the company except by email.

According to the company’s contract, several monthly payments are required in advance, as “collateral” on the loan. North Carolina General Statutes prohibit collecting money up-front, or advance fees, as a condition of credit approval. The Better Business Bureau offers these tips for spotting an advance fee loan scam:

  • Pressure to act immediately. Advance fee loan scammers will try to get you to send money or give out personal information before you get any paperwork. Insist on receiving the necessary paperwork before deciding whether or not to apply for credit.
  • Lenders not interested in your credit history. Lenders who don’t care about your credit record should be cause for concern. Ads that downplay bad credit and ads promising “fast money” or “guaranteed approval” often indicate a scam.
  • A loan that is offered by phone. According to the FTC, it is illegal for companies doing business in the U.S. by phone to promise a loan or ask you to pay for it before they deliver.

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