Silverwood Financial Services / SCAM
We were offered a loan of $5000.00 for a prepayment of $800.00. We sent the money and 2 days later we were told that because our credit wasn't that great, we would need to send another $600.00. We sent that and again, 2 days later, we were told the investor backed out of the loan. We were offered another loan from another investor for $10, 000.00 and we would need to send another $1600.00. We sent the money because we thought double the loan, double the payment. A few days after we sent the money we were told we needed to send another $3000.00 to cover Canadian withholding tax. Well I have prepared taxes before and know that loans are not concidered income so I did a little checking with the Canadian gov. and was told that they only charge withholding taxes to the lender because he/she would be earning interest on the loan. I called Silverwood back with this information and he started cursing at me. So needless to say we got ripped off by this company. I filed a report with the BBB, they returned my request and told me that there was nothing they could do because they could not find the company. So we are out $3062.00 and still have the debit we wanted to clear up before my husband deployed. Now he has to take that stress with him to war. I hope someday fate catches up with these people. I'm sure it will because what comes around goes around.