The complaint has been investigated and
resolved to the customer's satisfaction
Resolved
Silverwood Financial ServicesAdvance Fee Loan

D

This company offered me a $5000.00 loan at 7% interest rate for 3 years. <br />
They sent me a loan contract which looked legitimate.<br />
I would be required to provide them with the first 5 months of payments in<br />
advance, a total of $770.80 and once they received their payment they would<br />
forward me the $5000.00 to either a bank account, cashier's check etc.<br />
<br />
While looking at their website and trying to set up an online account, one of<br />
their web pages showed up with a notice that said:<br />
"Welcome to Rivercrest Financial Group. <br />
<br />
I did some research on Rivercrest Financial Group and found that they<br />
are a fraudulent company that offered the same type of services.<br />
<br />
I suspect Silverwood Financial Services to be in this same category.

Responses

  • Un
    Unfortunate-CT Aug 03, 2009

    I also found the same problem with Silverwood Financial and paid them $3K for a $13, 000 loan and now I have to go through the Attorney General of NY to try and get my money back. I hope they get these people for what they have done to me and my family. We needed the funds for surgery. - CT

    0 Votes
  • Vw
    vwillis623 Aug 03, 2009

    I also was offered this loan through Silverwood Financial Services. An ELLIOT PRIOR was my "loan officer". When I went to the website, they had Services spelled incorrectly. That was one of the first red flags. And the fact that you should NEVER have to give away money to get a loan. Any fees, etc. should be taken out of the balance given. Do not trust ANY type of loan service that you have to pay up front...especially through a MoneyGram or Western Union payment!! You will never see that money again. I have reported them to the Federal Trade Commission. I didn't lose out any money, thankfully, but plenty of other desperate people have and it's a darn shame. These people are CROOKS!!!

    0 Votes
  • Wa
    WAYNE KOENIG Aug 05, 2009

    I was also offered a 3year loan at6.9 % through silverwood financial services and a man named evan ross...I then sent 750 dollars for a fee equaling five months payments on my 5000. loan and was gaurenteed by him...I was skammed and having trouble geting my 750 back...do not go through this company it is a skam...I WOULD LIKE TO SUE THEM CAN ANY OFFER HELP...

    0 Votes
  • Ga
    gabiz737 Aug 06, 2009

    I have been taken as well for the tune of 1, 600. I wanted to know if anyone has recieved the promised refund? Also does anyone want to try and band together to get these guys arrested and sent to jail? Give me a call [protected]. We should be fighting this together. I'm so angry and hurt and...well I'm not the only one I can see. I'm 18 and I gave these people my whole life savings. Also "unfortunate CT", will the NY Attorney General's office compensate people who have been taken by Silverwood?

    0 Votes
  • Ni
    nikkir Aug 06, 2009

    I too have been taking for it. But I was so smart to send $5200. Don't do it. It's not worth it.

    0 Votes
  • I try to obtain a loan for a new computer for school. I have applied for a $2, 000 loan through a "LoanUnion.net" and the site never asked for my SSN. A mr. Richard Thomson of Silverwood Financial Services contacted me, they only do a minimum loan of $5, 000 and was willing to provide the loan at 6% APR - payable over 48 mths at $117.43. Sounds to good to be true and it normally is. However, I had to pay the first 7 months installments as collateral of about $820 to a Linda Bowers in Halifax, NS, Canada- apparently she is the investor and Silverwood Financial is the broker. When I received their paperwork, it looks legitimate on the surface. When I went to the website of Silverwood Financial, I noticed that the Services is spelled without the 'r' - to read Sevices. Unlikely that a legitimate company would make a stupid mistake like that! I took their phone number and did a reverse number search - after 48 hours I receive my answer. There is no record of a number [protected] in the United States of America! I confronted Mr Thomson with the question of their legitimacy, why they do not ask for your SSN and what insurance will I have in getting my loan. He was very "smooth" but at that point he started to cough repeatedly. A sign of nervousness. I decide that I cannot part with my $820 with no insurance of getting the loan. When it is too good to be true, it normally is!! Good Luck, people.

    0 Votes
  • Ga
    gabiz737 II Aug 08, 2009

    I am so happy for you "too good to be true-it is!". At least you advoided the loss of money and the pain that I and others have had to go through. I too spoke to a Richard Thomson and was foolish enough to part with 1600 before I wised up. I spoke to a Mr. Clark a few days ago and we are both doing what we can to, if not shut Silverwood down, then at least make sure there is a record of what they have done to all of us. I was told to send my money to a Julia McSorely. I am trying to collect as many names as possible so I'll make sure to note Linda Bowers. I filed a report with the Canadian police and Money Gram so I hope they keep an eye out for anyone trying to collect money under those two names...Maybe they can be caught. Please share any names or information from your experience so that we can try and work together to make hell for these people. Feel free to call me at [protected]

    0 Votes
  • Ni
    nikkir Aug 10, 2009

    Gabiz7377 I tried calling you. I left a message. The names of people I came across were Julia Fuller, Sara Dell and Dannica Dowel. The guy I spoke with fromt he company was David Standford. Did you contact the BBB? And Also www. ic3.gov?

    0 Votes
  • Ga
    gabiz737 Aug 10, 2009

    nikkir, I don't think I got the message. please ignore the welcoming, that actualy is my number (its the company that I work for). anyway, thanks for passing on the names to me. I have contacted the BBB and www.ic3.gov and filed complaints with both. I also have filed a complaint with the attorney general of NY and inclued the names that you and Mr. Clark provided. I think that these people are pickin up the money grams at the same locations and it must be that they are using their real names to pick up the money, because money gram requires ID. I wish there was some way to set these guys up to go to the money gram. anyways please call again because I don't seem to have a message on my voice mail. Are you in the US or candada, because that might be why it isn't showing up.

    0 Votes
  • Ga
    gabiz737 Aug 10, 2009

    hi everyone. I was wondering if everyone who sent money to silverwood could do one little thing that might help catch these people or at least keep them from harming another person. Call money gram at [protected] and tell them that there is fraud being committed. They will allow you to report the name of the person you sent your money to and stop all transactions going to that name through money gram. at least we can stop others from being taken or maybe track these people down.

    0 Votes
  • Tm
    tm32denver Aug 17, 2009

    On July 23, 2009 I was contacted by Elliot Prior of Silverwood Financial Services. He said that I was approved for a $5000.00 loan and that I would have to give them 7 monts of payments equal to $832.00 and once they received the money I would have the funds deposited into my account. I need to send the 800.00 via money gram to a Laura Gilbert in Canada. I should have known then something wasnt right. But he assured me that it was legitamite. I even checked the BBB and an office came up in Arizona and he said that he was out of New York but they had offices everywhere. I stupidly sent the money and never received my expected loan. When I talked to a Dave Standford he stated he was the customer serivce manager and they put the intial 800.00 towards insurance on my loan and in order to receive my 5000.00 I needed to send them another 800.00. I told them I wanted a refund and he said they would be refunding me the money on August 20, 2009. I even received a confirmation fax of the refund. Now when I call the number they gave me its disconnected. This place is scam and I should have went with my first instinct.

    0 Votes
  • Nd
    NDfx Aug 18, 2009

    I was contacted by Claire Hudson and was approved for $5000 loan and I would have the funds deposited into the account the next day by 5pm if I sent them the first 6 months of payments up front via money gram. I sent them the $910 and the next day still no deposit, I was about to call them and see what was going on and then David Standford (customer service manager) called me and stated that the lender evaulated the loan and is requiring another 6 months up front of $910. I needed the loan bad and didnt think this one through and ended up sending them another $910. I then got another call from David that day stating the lender backed out but he can guarntee me a loan for $10, 000 if I send them another $1, 800. I dont think so. I asked for a refund and he said it will be refunded on 8/21/09 (doubtful). I try calling them now and can't' get past the automated system. I'm now out the $1, 800 and now faced with an eviction from my landlord. I lost my job a little over 3 months ago and had to drain my savings account and my 401K just to survive. The $5, 000 would of came in handy to cover what I was behind in payments and I wouldn't be trying to look for a new place to live w/o money for a down payment and no job. I have reported this company to www.ic3.gov and local law enforcemnt. We need to catch these ****** and stop them from ruining everyone's life. Its about time we ruin their life.

    0 Votes
  • Ni
    nikkir Aug 18, 2009

    Has anyone contacted the Attorney General of NY? I have their complaint form if anyone wants it.

    0 Votes
  • Ha
    harmonjjbc Aug 18, 2009

    i have also been taken for 2860.00 . I was contacted by Evan Ross and then the day of the transaction David Stanford contacted telling me that my loan had been reevaluated and need and additonal 8 months payment upfront. I agian sent the funds which both transactions totaled the 2860.00. I was then contacted and told that the lender had backed out and that they had found a new lender which offered me a loan that doubled the amount. I then told Mr. Stanford that i believe his compamy is a fraud and that I wanted a full refund money gramed to me the same day. He informed me that a refund would be sent in ful on 08/18/09 which is TODAY and still no money or contact from them. Tried the number they gave me and it hangs up. HOW CAN WE GET THESE SCAM ARTIST...

    0 Votes
  • Sh
    sherry l Aug 19, 2009

    I was scammed, too. I sent $800 for a 5k loan, then they called the next day for more money. I refused and cancelled loan. Asked for my money back. They said I have to wait until the lender's billing cycle on 8/21/09. I filed with the NY BBB. The BBB forwarded them my complaint on 8/3/09. I have not hear back as of yet. I called, today and the number for Silverwood is no longer in service and the other number goes to a deaf person, not affiliated with Silverwood. Previously, I had to use a fake name in order for the manager to even talk to me. If there is a lawsuit, I would like to be involved. I will pull some of the other offices (government and FBI) that I can file a complaint with and will do so in the next day or two.

    0 Votes
  • Ni
    nikkir Aug 19, 2009

    How does one start a lawsuit against them? I have contacted the bbb, and ic3.gov. But can/will anyone really help us? :|

    0 Votes
  • Bi
    BigDummy Aug 19, 2009

    Wow all of this has made me feel just sick. Claire Hudson contacted me about a $5, 000 loan. I sent $910.00 to a Laura Gilbert in Canada. I feel like a real jack ### and work in law enforcement and should have known better. from Mr.C

    0 Votes
  • Ni
    nikkir Aug 19, 2009

    just got an e-mail from the BBB.

    "One of our primary goals is to successfully resolve disputes between businesses and their customers. However, due to circumstances beyond our (or your) control, that is not always possible. Unfortunately, in this instance, the BBB was unable to reach the business regarding your dispute"

    It then went on to say I can contact the Attorney General, ic3.gov and also NYC Dept. of Consumer Affairs - NYC. Already contacted the Attorney General and ic3.gov, I'm going to contact the NYC Dept. of Consumer Affairs now.

    Ugh-this is so frustrating.

    0 Votes
  • A5
    A54CHEVGIRL Aug 20, 2009

    Help My husband and I were also taken by these jerks. I was told I will get my refund on the 29th but from what everybody has said..there is no hope. How do we bring attention to this scam? it looks like they came out of thin air, took everybody's money and are now gone. We need justice!

    0 Votes
  • Ni
    nikkir Aug 20, 2009

    Has anyone tried their website today? It redirects me to another site.

    0 Votes
  • Ha
    harmonjjbc Aug 20, 2009

    my refund date was 08/18/09 NO MONEY... I am also redirected to a different website when I go to theres.

    0 Votes
  • 7b
    7b4me Aug 20, 2009

    The phone number and the website is shut down. Call the Canadian Fraud Busters and give them your info. [protected]. File a compliant with the FTC and the ic3.gov (which is the FBI) somehow someway we have got to get these people!

    0 Votes
  • Ni
    nichole01 Aug 21, 2009

    well i was scammed too!! i was contacted by elliot prior on july 13, 2009 and he faxed me paperwork which looked all legitmate. so he told me i had till july 24 to make a decision. so after debating with it i decided to do he offered me a loan for $5k and i pay $815.50up front so i did that on july 23, 2009 and i was told i would have my $ 5k on july 24 by 5pm. and when i didnt receive the funds, i received a call from david stanford and he said the lender is requesting another $700 down and i told him never mind and just refund my money, and he told me it would be done on the lender's next billing cycle, so i told him fine. so he told me i would receive a refund of my money on august 20, 2009, and needless to say it isthe 21st and i still have not received my money. and from the other comments it doesn't look like i will.

    nichole01

    0 Votes
  • Ca
    californiadip Aug 21, 2009

    caldip,
    Hey Folks, guess what, we were taken too. Yeah, I just tried thier [protected] for a MR. DAVID STAFFORD
    Office manager, NO LUCK. I was told to use Money Gram to send the advance payments of $1700.00 to a DEBRA BOWLIN CANADA GRAND VIEW, wherever the hell that's is. Then I was told due to my losey credit score, I needed to deposit another $1700 to secured the $8000.00 loan I was trying to get. I said no fricking way. I told David Stafford to cancel my loan request & return my money, he informed me that the money would not be return untl August 28, which is the billing cycle of the lender. The "###" name CLAIRE HUDSON was my loan agent. My wife is totally sicken. I did try their website, nothing comes up. My whole objective was to call and make sure my deposit was arriving by AUGUST 28th, so I can MAKE my monthly payments . Not anymore. My wife was very suspicious when this piece of crap DAVID STAFFORD claims all money will be deposit on AUGUST 28th. We feel like idots, I know we're all smart people. It's very sad that there are people out there like this who prey on people looking for help. I would be very interested in helping anyway I can to try & catch these people, so they can't do this to anyone else.

    0 Votes
  • An
    aniya724 Aug 22, 2009

    These ### needs to rot in jail they took me for 1400.00. I feel so stupid for doing this but the papers looked real and the website looked real. Now I am out of my money we as people need to band together and figure out who these people are and why they took our money cause I bet we have family houses and cars to care for. We do not have time for this scam. Richard Thompson and david Stafford needs to rot in hell. ###

    0 Votes
  • Nj
    n johnson Aug 28, 2009

    i was scamed also. i was told i was able to recieve a loan for $5, 000 but i needed a deposit of $800.00 due to my credit i sent them the deposit of $800.00. after i sent the money they called back and said everything looked good and that the next day i would recieve the $5, 000.00. 2 days later they called me back and said that the insurance company couldnt insure the loan because of my credit to send them another $800.00. i told them to forget it i dont want the loan anymore so they said ok we will deposit the $800.00 that you sent us back in your bank account within a month. its been over a month and no money! ive tried calling but the phone number no longer exsits

    0 Votes
  • An
    Angel27 Jun 15, 2016

    I was lied to about a $5000 loan when all I had to do was make my first 6 mo. payments and I would received by the next business day. They told me that the lenders that was giving the loan and I would receive my money back on the 29th of this month, the same day that it would make it into their account. Every time I call them the number is disconnected. So I'm sad to say but I fear I that I will never see it again.

    0 Votes
  • A5
    A54CHEVGIRL Jun 15, 2016

    Yes I am having the same problem! I decieded to pull the plug on my loan because the deal fell through. I invested $3, 400.00 and was told I must wait till the 29th too for my refund. What do we do now? do you have current contact information, I just tried to call their number and it's no good. and the web site is gone!

    0 Votes
  • Ni
    nikkir Jun 15, 2016

    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
  • To
    topnog Jun 15, 2016

    was your account rep mark andrews. because im dealing with him but i dont have to give money up front they are tring to use one of my vehicles for collateral. any help, before i make a decision

    0 Votes
  • 7b
    7b4me Jun 15, 2016

    We went through the same thing as the others. We have 'invested' $3223 and have been told we won't get our loan but we would get a full refund on the 29th of this month. I have my doubts. Has anyone else been told that? Go to ic3.gov and file a complaint. This has to stop.

    0 Votes

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