This Business is not BBB accredited

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Description

Consumer Alert!

This company is conducting an advance fee loan scam.  Consumers report receiving an email saying they have been approved for a  personal loan. Consumers are required to pay fees upfront in order to qualify.  BBB's experience with companies of this nature is that the consumer does not receive the promised loan after paying the required security deposit or administrative fees.  One consumer responded to the offer and wired $3400 for a $55,000 loan.  Overland Lending Solutions has yet to disperse the funds as promised.  

No legitimate company will ask for funds in advance of a loan, nor will it ask for any fee to be wired to them directly by Western Union, Moneygram, or any other wire service.  Fees incurred in a legitimate loan generally are deducted from the loan amount before the funds are dispersed.

BBB has been unable to verify the company's registration status with the Ohio Secretary of State.  BBB has been unable to reach a live person when calling this company.  The mailing address is invalid according to the United States Postal Service.
 
Any individual or business owner who suspects that he or she may have been victimized by this scam should file a complaint with the BBB.  Victims are also strongly urged to contact their state's Attorney General's Office, their local police and the Federal Trade Commission at 877-382-4357 to file a complaint.

BBB Accreditation

This business is not BBB accredited.

Businesses are under no obligation to seek BBB accreditation, and some businesses are not accredited because they have not sought BBB accreditation.

To be accredited by BBB, a business must apply for accreditation and BBB must determine that the business meets BBB accreditation standards, which include a commitment to make a good faith effort to resolve any consumer complaints. BBB Accredited Businesses must pay a fee for accreditation review/monitoring and for support of BBB services to the public.

Reason for Rating

BBB rating is based on 16 factors. Get the details about the factors considered.

Factors that lowered the rating for Overland Lending Solutions (Advance Fee Loan Scam) include:

• BBB concerns with the industry in which this business operates
• BBB does not have sufficient information to determine how long this business has been operating
• 7 complaints filed against business
• 4 serious complaints filed against business
• BBB does not have sufficient background information on this business
• BBB does not have a clear understanding of this business