Consumers Being Warned About Advanced Fee Lending Scam
Posted: 11:29 pm EST November 19, 2009Updated: 11:59 pm EST November 19, 2009
PITTSBURGH -- A woman trying to get out of debt has dug herself deeper into a hole."You hear about these scams all the time. I never thought a financial institution would scam people," the anonymous victim tells Channel 11's Timyka Artist.The married, telecommunications executive applied for an online loan after being laid off in April.Earlier this month, she was approved for a $15-thousand loan by Brookview Financial Services in Cleveland, OH.Days after wiring the company more than $3-thousand in advance loan fees to cover the next 12 months at a discount, she realized she had been scammed.The Better Business Bureau is waring consumers in financial durress to beware.At least twenty questionables advance fee lenders are being investigated in Pennsylvania, and the cases are becoming more common because of the tough economy.Consumers should always check with the Department of Banking to ensure the lender is registered before signing any contracts.Bottomline: if its souds to good to be true, it probably is.
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