Has anyone heard of Chartwell Financial?

Date: Wed, 02/21/2007 - 06:25

Submitted by lrhall41
on Wed, 02/21/2007 - 06:25

Posts: 245 Credits: [Donate]

Total Replies: 4

I "applied" for a loan on the internet from this company a couple of days ago. Today I checked the status and it was "approved" but I need to send $405 as a deposit or to pay for late fees, dissability, etc. I have searched around and have not been able to find anything on this company. The loan is for $5000 at 11% interest according to them. I need to send paystub, photo ID, copy of a bill with my home address and they will fund the loan in 24-48 hours.
According to their website they have been around since 1978 and they are with the BBB.
I checked the BBB and they are located in Canada and it is supposed to be a fraud, but my question is if they are a fraud according to the BBB, why would they direct people to check them on the BBB?
Any suggestions are welcomed!!!
thanks.

My advice - don't do it. That is an advanced fee loan. Typically

My advice - don't do it. That is an advanced fee loan. Typically, advanced fee loans are fraudulent. Read more about them here:

http://www.ftc.gov/bcp/conline/pubs/tmarkg/loans.htm

There is a chance you will never see a single penny of the loan and never get your $405 refunded.

In fact - read that link I sent you for this line:
Quote:

Don????????t pay for the promise of a loan. It????????s illegal for companies doing business by phone in the U.S. to promise you a loan and ask you to pay for it before they deliver. Requiring advance fees for loans also is illegal in Canada.

So it's a Canadian company wanting money upfront, which is illegal. That should say it all.

lrhall41

Submitted by jedijeff13 on Wed, 02/21/2007 - 06:29

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I will send them an email with this information and see if they

I will send them an email with this information and see if they reply. If they were legit I guess they would dedect the fees from the loan amount.
Thanks for your input. I had my doubts about this company anyway.
Thanks.

lrhall41

Submitted by lrhall41 on Wed, 02/21/2007 - 06:33

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No prob. I agree - any company would factor fees into the loan a

No prob. I agree - any company would factor fees into the loan and not request them upfront.

lrhall41

Submitted by jedijeff13 on Wed, 02/21/2007 - 07:25

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Don't send your personal information to such scam companies. It

Don't send your personal information to such scam companies. It is illegal for anyone to charge money upfront while offering a loan. All charges are to be deducted once the loan principal is deposited into the account.

Don't allow them to access your bank account. If this happens, your personal info won't be safe anymore and you will get unauthorized debits from such companies out of the states and their affiliates. In that case, you will have to kiss your hard earned money goodbye.

lrhall41

Submitted by ricjil on Wed, 02/21/2007 - 09:54

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