Consumer Alert: Loan Scammers Using Fictitious Maine Addresses

June 5, 2008

If you have been approached by a supposed loan company that can guarantee you a loan regardless of your credit history, be very skeptical. It will ask you to send money and the result will be that you receive nothing in return. This is called an “Advance Fee Loan Fraud.” Before doing any business with a loan company, make certain that it has been licensed by the Maine Office of Consumer Credit Regulation (1-800-332-8529).

Lately, some Canadian scammers have been using a new approach to Advanced Fee Loan Fraud. They advertise their company and give it a fake Maine business address, in order to make it sound legitimate. But it is not. They almost always want you to wire the money to Canada, even though they are using fictitious Maine address.

Here are some names that scammers have used for loan companies that claim to be based in Maine but are not are: Advantage Capital, 48-Hour Loan Center, Delphia Solutions, Royal Advantage Group, 24-Hour Loan Service, East Point Lending Group, Woodsworth Financial, Capital Lending and Great Trust Solutions.

-N.C.