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Silverwood Financial Services / Breachof Contract/International Fraud

1 KY, US Review updated:

I applied online for a "less than perfect credit" loan. I was contacted by Eliot Prior from Silverwood Finacial Services. Later, he faxrd me a contract and called me to review the contract. He told me I had to send in $1100 to process the loan due to my credit rating. I sent the funds within a week and was told I would receive the $5000 loan within 24 hrs. Instead, I received a call from a David Stanford stating that the lender was requesting another $1100 guarantee on the account to secure it. At that time, I questioned them about their validity. But due to desparation, I borrowed it and sent it. I was again told I would get my funds within 24 hrs. Each time I sent the funds, they had to be split and snet to 2 persons in Canada. RED FLAG--YES! But desparate! David called me on Friday and said the loan was approved and I would either get my funds on Saturday or Monday, due to a back up in their department that disbursed funds. Monday I called and got a voice message for David. I left a message and he called me back stating he was in a meeting. When I spoke with him, he said the lender had backed out of the deal and they were going to sue them on my behalf. Right! I told him a wanted my money back and he said the funds would be deposited back in my bank on the morning of Aug. 29. Well, today is Aug. 29 and there has been nothing deposited in my account. I have reported this to the BBB of New York and the FTC. I've heard nothing from the FTC yet, but the BBB filed a complaint and gave them 14 days to answer. They sent a second notice, but their has been no answer from Silverwood. I do not intend to let this go. I am in the process of filing a charge against them for fraud across stat lines. They caused me to be late on my mortgage payments and to have all of my property insurance cancelled for none pay. I want punitive damages!

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Comments

  • Ni
      Aug 31, 2009

    Please contact the Attorney General of New York. They wont help unless we all complain. I'll send you their complaint form.

    +1 Votes
  • Mo
      Sep 29, 2009

    I am in the same boat you are. However, I had to relocate my family due to this company. I was late on my rent so the landlord decided to raise my rent. I am now 2 months behind on my truck payments as well. I filed a complaint with the BBB of New York back in August when this happened. Here we are going into October and I have heard nothing on this matter. I am glad that you had better luck with them than I did. I was told by local law enforcement that there is noting that can be done. So, I guess I am going on the hope of IC3.gov and the BBB of New York. Please send me a complaint form to [protected]@yahoo.com.

    +1 Votes

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