Has anyone ever received a loan from Better Choice Financial?I have bad credit and have qualified for a loan from Better Choice Financial.I have also recieved a letter of guarantee.I need to pay a brokers fee before receiveing the funds.The loan is coming from Canada-RBC Financial-a 3rd party lender.How can I tell if this is a loan scam?I expressed my concerns with the loan officer-and they have said for me to take the approval letter and letter of guarantee to a lawyer-have it checked out.I have not done this as of yet.Should I worry since they are suggesting to go to a lawyer?
I have also looked on BBB for Better Choice Finanaical-and have found nothing negative;however,they are not an accredited BBB business.When I told this to the loan officer-when I expressed my concern of a loan scam-she had said I was suppose to look up the actual lender on BBB.Is this true?Since it is 3rd party,I don't know if RBC Financial can help me.Is loan coming from RBC Financial or person.Please advise
9 Answers
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I have to say scam, the guarantee is probably as good as the paper it's written on. There isn't a broker that I know of that wants funds their fee before funding. To me that's the give away. The only thing you should be paying out of pocket is the appraisal fee and possibly the closing costs. A lender would not fund the loan if you had to bring money to closing, but I don't believe thats the case here. If you really want to make sure, call your local FBI and fax them copies of what you were provided and see what they come up with, good luck
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Better Choice Loans
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I smell scam for two reasons: (1) They're requiring you to pay a broker's fee, and (2) The loan is supposedly being underwritten by a third-party bank outside the U.S. For starters, why should you have to hand over money to get a loan? Secondly, what would stop you from dealing directly with Royal Bank of Canada and getting the loan yourself? Finally, why is a financial institution in the U.S. having a Canadian bank underwrite a loan when they know Royal Bank of Canada cannot force you to pay if you default?
Any time you're told that you have to pay to secure a loan or accept a prize, it's usually a scam. And if the loan or prize is coming from another country, it's usually a scam. My advice is for you to call the loan officer and ask them to waive the broker's fee. If they refuse, 10-to-1 will get you it's a scam.
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Better Loan Choice
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I'm certain that you must find many financial answer at: loandirectory.info-
RE Has anyone ever received a loan from Better Choice Financial? How can I tell if it is a Loan Scam?
Has anyone ever received a loan from Better Choice Financial?I have bad credit and have qualified for a loan from Better Choice Financial.I have also recieved a letter of guarantee.I need to pay a brokers fee before receiveing the funds.The loan is coming from Canada-RBC Financial-a 3rd party lender.How can I tell if this is a loan scam?I expressed my concerns with the loan officer-and they have said for me to take the approval letter and letter of guarantee to a lawyer-have it checked out.I have not done this as of yet.Should I worry since they are suggesting to go to a lawyer?
I have also looked on BBB for Better Choice Finanaical-and have found nothing negative;however,they are not an accredited BBB business.When I told this to the loan officer-when I expressed my concern of a loan scam-she had said I was suppose to look up the actual lender on BBB.Is this true?Since it is 3rd party,I don't know if RBC Financial can help me.Is loan coming from RBC Financial or person.Please advise
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Hi,
I'm looking for online loans too, and they all want up front fees ranging from $300. to $950. either as a security deposit or insurance. I feel if they take your money, you probably won't get the loan and they will be happy to keep your money. I really wish there was a good, honest, installment loan site for low credit score borrowers like us; not payday loan sites either, that will cost the borrowers a small fortune to pay back. If you get turned down for an installment loan they send your name, address, and financial information to hundreds of payday loan cos. and it gets crazy fast! It puts you at a much greater risk for identity theft, too. Save the hassle, and attorney fees, and don't go for this loan.
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Don't do it. It is an "Advanced Fee Scam". I am a recent victum of this bull*&^% . A certain company called Crescent Financial Services, got me the exact same way to the "T". Even with a letter of Gua.... also.
I lost $5900 to these *******. If the law was anymore lax than it is now, I'd go hunt them down myself. But seriouly, DONT DO IT. I almost lost my family while trying to bouce back from this SH!T. Any kind of offer that requires an upfront sending of money is a SCAM!!. Especially going out of the U.S. That's how they hind they're tracks. I know your probably desperite but."Dont try to get fake $ by sending the real $ you dont have." Go ahead and post they're phone number here on this site and see how fast they will pull the cord and leave. Only to set up shop as a different company name. As many people that there are here on "Answers" that have been victums of these scams. Im sure they'll call them seeking unsettled revenge and eventually scare them out.
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It is for certain a scam.