Centre Point Financial Group: Loan Scam

Another day, another loan scam. We received a report from Lavarne overnight about a new loan scammer going by the name: Centrepoint Financial Group. Here are the details:

Fake lender name: Centre Point Financial Group or Centrepoint Financial Group
Fake contact name: Sheena Scott
Fake lender website: http://www.centrepointfinancialgroup.com/ (created February 2, 2009)
Fake lender address: 1232 North King St Suite 326 - Wilmington, DE 19801
Fake loan offer: Required a "down payment" to be wire transferred.

Remember, any lender asking you to wire transfer money is a scam. No legitimate lender would ever request a wire transfer through a company like Western Union.

If you think you might be working with a scam lender, email us before you send them any money. We're happy to help you determine if the loan is a scam. And your early reports allow us to post these crucial blog warnings for other potential victims.

Emily Peters – Credit.com's personal finance expert and former TransUnion credit bureau insider. Emily writes about credit reports, credit cards, loans and personal finance as the CreditBloggers.com editor.

Comments

[Colby Williams]

I talked to a guy named "Mark Fisher" today at Centre Point Financial Group and said I would accept the loan as long as I could come to his office for the transaction or I would pay for esgrow and he refused both. I told him the only reason he would not do it that way is because he is a fraud. End of conversation.

[broker1]

Late Dec 2009 I conducted an online search for a long term personal(auto) loan. I applied a at a web site (that I do not recall the website name) about refinancing my Hummer H2 SUT. All that was required was that I fill out an application consisting of personal information such as my social security number and address. On Feb 5th, 2009 I was contacted by Michelle Hudson stating that I had been approved for a $26,500 loan through Centre Point Financial Group based out of Delaware. After searching for the company name online, I found nothing negative about this company. I also checked the BBB in Delaware, which didn't have any positive or negative information, and researched their website @ www.centrepointfinancialgroup.com.

I talked Michelle Hudson again on Feb 6th, 2009. She explained that since this was a secured loan that I would need to provide collateral for insurance purposes as stated in the faxed agreement. The collateral required consisted of and was equal to 5 monthly payments totaling $2,500 and since I was making such a large payment upfront that I would not need to begin repaying the loan until June of 2009 for seven years at $399.00 per month. I reviewed the documents numerous times. Everything appeared to be completely legitimate. I asked a lot of questions and I was asking for proof that they were with the BBB of Delaware. I never received any info from them. I also asked about the advance fee scams and the said that they report companies that are involved in that. I told them thatI would not send in the full amout and that they can take the rest out of the loan proceeds. Michelle Hudson then tried to convince me to send $2,500 to a George Nail, whom she said worked for a private lender in Canada. I refused to send any money to Canada and if this were a legitimate loan that I will send the payment to them and they could handle the rest. I know that at every Money Gram location, that it was more than likely to have a camera there just in case. I was then given directions to sent it to a person who works in their accounting Dept by the name of Shirley Albertson in Wilmington, DE. I contacted Michelle and gave her the reference number and she informed me that my account would be funded w/in 24 hrs. On the morning of Feb 17, 2009 I checked my account and there was no wire transfer. I called Michelle and she stated that they would need an additional $750 for complete the loan requirement. I refused and asked for my money back and thet said that the would start the refund process. I have not heard from them since that evening. I have called and faxed them numerous times to no avail. I had doubts from the beginning and I should have not sent any money, but I was stupid and I did - If I can't get my money back - then I at least, want the criminals caught.

[J Cotton]

I think that i am in the same situation with Equal Financial Group. I am in the process now of trying to get an $8000 loan from them and i have already had to send two different payments of $940 each. And now they are asking for one more payment of $1000 for insurance on the loan or something like that, and when they get this payment the $8000 will be deposited in my account. They also have sent me a letter saying that as soon as i send them the $1000 i will get the funds. Both payments i sent were to canada. I should have known something was up. I havent and dont think i am going to send them the $1000. I asked the man i have been talking to on the phone about the upfront fee scams and he said that they would have been shut down by now if there were a scam company and we wouldnt be talking on the phone. He says that they have a big clientel and have never had any negative remarks or complaints. I think this might be because they are fairly new mabey and no one has had enough time to report them yet. So should i go ahead and just ask for a refund? Even though it wont do me any good.

[Beverly]

Equal Financial Group has gotten me also. I was trying to get a loan for $15000- They said I had to put down 5 months. I wired money to Canada for $1960 the money was to be in my account within 24 hours. Guess what? It was not there. when I called I was told that the lender wanted anothe $1960 to secure the funds and then they would release the money. I did it!! In 24 hours no money.
When I called the 3rd time they told that the lender then wanted $1000 for insurance. I refused and asked for my money back. They said I would received in in 7 to 10 days. Today is day 10 -no refund. I have reported this to the FBI. I asked my "agent" for an address to send a letter- I sent a letter certified - It was retuned yesterday, no such number. These crooks work hard to scam people, they are in their "office" and anwser calls.

[Randy Cooper]

My famly also has been scam,ed by EQUAL FINANIAL GROUP in November of 09. They wanted so many payments up front & $1000.00 up front at dinferant payment method,s, we should of had known better, but it sounded to good. They,er # has been disconnected & NO way to contact them. It,s now 2/01/2010 still no answer, I ALSO contacted ATTORNEY GENERAL OFFICE in my state. They say it is a BOGUS SCAM and that many advance-fee loan scams originate in CANADA, even though the (LENDER)provided us with an address in the UNITED STATES. I have some health problems and needed a little help for a short while. The Attorney General,s office said to file a complaint with the FEDERAL TRADE COMMISSION. thats what I,am going to do. These people who pull these scams are some low life INDIVIDUALS that never knows what hard phisical work is and have NO RESPECT.

[Randy Cooper]

Me again with some info. FEDERAL TRADE COMMISSION #1-877-382-4261 they took info. from me and also told me to call CONSUMER PROTECTION AGANCY #1-800-482-8982. The people at EQUAL FINANCIAL GROUP also told me they would send me my MONEY & FEE,s back, the $1000.oo for insurance I never sent, told them we could,nt the rest they prommised to send us back. Every time I called them they would hang up,then dissconnected line recording would answer. (I NOT GOING TO GIVE UP).