I applied on-line to this 'Capital Finance Services' finance company who apparently specializes in helping people who have little or no credit. My intention was to get a personal loan in order to pay off my existing debts and to ease the stress I'm currently under. I was told that I was approved under a 'secured loan' option and after completing the documents needed and sending copies of my driver's license, SIN card and a Void cheque, was instructed to send $1000 via Western Union to a Bruce Hobson, Toronto, ON. When I asked why I was sending the funds to a person's name instead of the company name, I was told that Bruce Hobson was a registered loans officer for the company and had an account with Western Union. Apparently Western Union didn't have company accounts and they could only be registered in a person's name. I have since then found out from Western Union that this is not true. When the wire transfer was completed I was to phone back to verify the transaction with their 'Senior Financial adviser' with whom I had been dealing with from the beginning, a Mr. Steven Langley, with the MCTN number from Western Union and when Bruce Hobson had verified the funds had been received, someone from their Customer Care Department would call me to verify which bank account I wanted the loan amount to be deposited into. I had asked if I could add an additional $1000 onto my loan needs in order to provide my family with a great Christmas and explained that I would be using the $1000 that was for Christmas presents for the deposit, once I could be assured that I would have the loan funds in time for Christmas. Well, lo and behold, the funds weren't in my account in time for Christmas and my family scraped through the Holiday season. We truly learned the meaning of 'Christmas Spirit' and were just happy to all be together. When I tried calling the offices I had been in contact with before Christmas, both voicemails were full. This morning, Dec 28th/07 I called the office again, assuming that they had been closed over the Holidays and was ready to give Mr. Steven Langley a piece of my mind for dropping the ball on the transfer of funds... only to find that both telephone number are no longer in service!! Their website does still seem to be operational and my emails haven't come back to me yet, so they may still be in business. Now, not only am I out the $1000 I sent them, but I'm also still stuck to pay my bills and have no funds to work with a different financial institution. Aslo, I have had to freeze my current bank accounts, make appointments to open new ones and re-arrange payment methods for my regular bill payments. Tough lessons learned... don't deal with internet based creditors! Especially near Christmas. Also I had asked if the company was registered with the Better Business Bureau and was told they were, however I failed to check into it myself.
Ucluelet, British Columbia
I responded to an online add for a loan in which you fill out a quick application just asking your credit status, income and phone number and address. I filled this out on December 11, 2007. First thing in the morning on December 12, 2007 I received a reply email from Steven Langley of capital finance services saying I was pre approved for the loan based on my income and to provide some additional information the following:
1.one piece of government issued photo id.
2.most recent paystub.
3.copy of your social insurance number.
I will need you fax the information to my office so we can proceed with your loan application it does take one to two hours to process the information so you will have to call me back within that time frame for your results. That was the exact email. I then called steven Langley at the number provided on December 14, 2007 and he requested that due to a couple bad marks on my credit I would need to make a $500 deposit. I told him that my credit was clear as far as I know and I just purchased a new car. He said that I should check it out later but that for now I was approved for $5000 and that if I sent $500 right now I would get that back after 3 months provided there were no late payments.
He then told me to fax a void chq to him and that in 2-3 days I would be contacted by a customer service representative. I inquired as to which date the payments would be and he said the representative would contact right when or after the money was deposited in my account in 2-3 days. As this was a Friday I told him I would do it on Monday so I faxed him my info and void chq and he gave me instructions to go to Canada Post and ask for a Moneygram and wire $500 to an Adam Davis. I inquired why not to the company and he said this was their security officer who picked up the funds he also said that if I sent it over the weekend to call and leave a message on his voicemail.
On Monday December 17, 2007 I called him to tell him I would wire the money that day he told me to call him asap with the reference number so that my money would be released quickly and he was so busy as Christmas was approaching and everybody needed loans. So I went and wired the money at the Post Office and then called him with the reference number.
He then faxed me the 'loan documents' to sign and then I got suspicious as they claim to work with lots of different lenders and there was only their name at the top of the page. I called him back and kept getting a busy signal or voicemail, I also called the number on the webpage and it would have a legitimate recording but once I pressed 1 or 0 it would disconnect. I then realized I'd been scammed and have since done much research.