Silverwood Financial Services Complaints & Reviews

Silverwood Financial ServicesBreachof Contract/International Fraud

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!

  • Ni
    nikkir 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
    momma_blueeyes 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 [email protected]

    1 Votes

Silverwood Financial ServicesSCAM

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.

  • Ro
    roy8w09 Aug 18, 2009

    This SOBs did the same scam to us. We were looking to save our home. The ran the same line on us. The papers looked legit, and we even had our lawyer look things over. We wired them the 6months of payments, and the day the money was to be deposited to our account. "David Stafford" contacted us stated that the lender back out; but they had found another source and would require more money down.
    We told them to refund our down payment. We were told that we would have our refund on the 18th(no refund so far).

    0 Votes
  • Ni
    nikkir Aug 19, 2009

    I tried calling them, the number they gave me just says "goodbye." Have you contacted the bbb or ic3.gov?

    0 Votes
  • 12
    123loss Aug 24, 2009

    Silverwood contacted us after we googled RV financing as one of the companies that received our app which they approved with $3400 down sent us paperwork said that the loan was thru a private invester by the name of Ellen Hurley in Toronto, Canada. they then called back and wanted more money and we asked for a refund they said it would come on the 14th of Aug it never did but they sent a reciept for guaranteed refund. Elliot Prior was our Account Rep. When we try to call all we get is good-bye and now I find all this info which was not availible when we researched the company.

    0 Votes
  • Ch
    charlie brown Aug 27, 2009

    I am simply amazed that otherwise intelligent(?) people would seek out these internet sites to borrow money.
    Have any of you EVER borrowed money and had to pay the first 6 payments up front before getting the loan?

    Maybe you people didn't know that if they request a money gram sent to Canada or any other country it is a DEFINITE SCAM.

    It is a well known fact that money sent by money gram is NOT traceable and therefore NOT recoverable.

    You actually believed that they were going to send you 5 to 20 thousand dollars by simply paying a few hundred dollars up front to get the loan. I think you people had every intention of ripping them off but they got you before you got them.

    I think double the loan, DOUBLE THE STUPIDITY...NOT double the payments!!

    ALL internet loan companies are SCAMMERS. As a matter of fact, all internet ads are scams in one way or another.

    Legitimate loan companies DO NOT require any payment up front to get the loan and there are NO legitimate loan companies on the internet.

    Forget class action lawsuits, the only winners there are the lawyers and the court systems.

    Just chalk it up to stupidity and move on!

    0 Votes
  • Ni
    nikkir Aug 27, 2009

    stressed out soldier,

    sorry to hear that. Ignore Charlie brown, he's probably DAvid Standford! People with nothing nice to say shouldn't say anything at all.

    You can contact the attorney general of new york. I have the complaint form if you would like it. They don't help just individuals, so maybe if everyone as a group says something they will help us out.

    Its sad that we live in a place where people take advantage of other people. My family did the same thing. And looks like many others did too. Some even went to lawyers before hand and the lawyers said it looked ok.

    0 Votes
  • 77
    7777c Aug 28, 2009

    can you please send me the form for the attorney general of new york, to file a complaint. Please [email protected]

    0 Votes
  • Ch
    charlie brown Aug 28, 2009

    I hope you all get your money back, somehow very soon. No, I am not David Standford, whoever he is.

    I will be nice to nikkir and stressed out soldier. I feel hurt for all these people that have been scammed by anyone, anywhere.

    Please remember, all these guarantees and testimonials mean absolutely nothing, and be very, very skeptical about the things these companies are offering and promising. As a matter of fact, you would be better off if you would simply NOT believe anything they say, ever. They will lie to get your credit information and tell you anything that sounds good to you. If I could, I would hold your hand to help you get through this, but that won't help you.

    Check any company out for complaints everywhere before you send them any money. Google search is a good to start.

    Buy Locally, in brick and mortar stores where you can see with whom you are dealing with FACE TO FACE.

    Could we all agree that this is a common sense approach to these scam offers in this economy.

    Unless you have money to burn, be stingy and tight with your money and credit information and just assume that they are out to scam you.

    If you do not follow this advice, you WILL be scammed again.

    0 Votes
  • Pi
    pinkymcsmurf Aug 28, 2009

    Please send me the forms too, my boyfriend's dad asked to borrow the money for the loan and we were kicked out of our house and now we really need the money and it was supposed to come back today, the day after my birthday, and we got screwed... we tried calling to find out what's going on and now all we get as soon as it picks up is a recording saying goodbye, so please send me that form at [email protected] thank you so much!

    0 Votes

Silverwood Financial Servicesheartless scam artist

Promised a 5000 dollar loan @ 6% which for my case was good laid off and tryting to save my home so when they said I needed a deposit I did question it but he explained it like you put a deposit on a car home so it no different being desperate idiots we sent 1100 dollars not to New York but Cranbrook Canada where the alleged investing lender was the money was promised the next day nothing when my husband called the next day they told him the invester wanted another 1100 dollars without my presence my husband sent the money we were to the wire on our home nothing we called to get our money back and were told they are being sued & it will be a while I just want justice as everyone else who have been scammed by these unsavory people

  • Ni
    nikkir Aug 24, 2009

    I recieved a letter from the Attorney General of New York. They appologized to me and said that they do not help individual cases. So I'm assuming if we all send the Attorney General something they will help. I have the complaint form if anyone wants it.

    0 Votes
  • At
    ATL123 Sep 03, 2009

    QUOTE: Legitimate loan companies DO NOT require any payment up front to get the loan and there are NO legitimate loan companies on the internet.

    Actually, that's not entirely true. CITIBANK required we pay 2500 up front to secure an auto loan for our Yukon. We did that, and the loan was given to us.

    So, I think this is where the confusion begins. There ARE legit companies that require you to pay up front... you just have to be sure they are INDEED legitimate.

    0 Votes

Silverwood Financial Services — Loan Scam

I too have been duped by this company. The offer was $5k at 8% for 36 months. Paid fee of $781.90 only to...

Silverwood Financial Services — Advance Fee Loan

This company offered me a $5000.00 loan at 7% interest rate for 3 years. <br /> They sent me a loan...

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