BBB Business Review

Text Sizesmallmediumlarge

This Business is not BBB accredited

Southfield Financial Group

Phone: (800) 906-8837 20700 Civic Center Dr., Southfield, MI 48076


BBB Business Reviews may not be reproduced for sales or promotional purposes.

Description

Consumers report that this firm offers loans for an advance fee. These loans are targeted towards individuals with insufficient or poor credit histories. Consumers report that the firm guarantees individuals a loan, regardless of their credit histories, for an upfront fee. Consumers are asked to send the fee, to an individual, by Western Union to various locations throughout Canada.


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 13 factors. Get the details about the factors considered.

Factors that lowered the rating for Southfield Financial Group include:

  • BBB concerns with the industry in which this business operates

Factors that raised the rating for Southfield Financial Group include:

  • Length of time business has been operating
  • No complaints filed with BBB


Customer Complaints Summary

0 complaints closed with BBB in last 3 years | 0 closed in last 12 months
Complaint Type Total Closed Complaints
Advertising/Sales Issues 0
Billing/Collection Issues 0
Delivery Issues 0
Guarantee/Warranty Issues 0
Problems with Product/Service 0
Total Closed Complaints 0

Additional Complaint Information

Our file experience shows a pattern of complaints, alleging misrepresentation about the loans, failure to provide the loans and failure to provide refunds

Customer Reviews Summary Read customer reviews

0 Customer Reviews on Southfield Financial Group
Customer Experience Total Customer Reviews
Positive Experience 0
Neutral Experience 0
Negative Experience 0
Total Customer Reviews 0

Additional Information

BBB file opened: June 05, 2006
Business Category

Advance Fee Brokers

Industry Tips

Prospective loan brokers should realize that successful
achievement and advancement depend on one's ability to obtain
loans for clients. Large earnings cannot be guaranteed, and
potential loan brokers should realistically evaluate their own
ability to do this type of work before making large investments
of time or money. Contact those already in this highly
competitive field to learn of their experience. Check with
local banks, savings and loan associations and other financial
institutions to determine if they will do business with a loan
broker. Check local and state requirements relating to the kind
of business to be conducted, including business regulation
departments and your state securities commission to determine if
there are any licensing requirements or restrictions. Some
states require licensing if you act as a mortgage broker or if
the loan is secured by real estate. Check with newspapers to
determine if they will accept loan broker ads.

X

BBB Customer Review Rating plus BBB Rating Overview


BBB Customer Reviews Rating represents the customers opinions of the business. The Customer Review Rating is based on the number of positive, neutral and negative customer reviews posted that are calculated to produce a score.

Customer Review Experience Value
Positive Review 5 points per review
Neutral Review 3 points per review
Negative Review 1 point per review

BBB letter grades represent the BBB's opinion of the business. The BBB grade is based on BBB file information about the business. In some cases, a business' grade may be lowered if the BBB does not have sufficient information about the business despite BBB requests for that information from the business.
Details

BBB Letter Grade Scale

BBB Rating Value
A+ 5
A 4.66
A- 4.33
B+ 4
B 3.66
B- 3.33
C+ 3
C 2.66
C- 2.33
D+ 2
D 1.66
D- 1.33
F 1
NR -----
Star Rating scale

  Average Score
5 stars 5.00
4.5 stars 4.50-4.99
4 stars 4.00-4.49
3.5 stars 3.50-3.99
3 stars 3.00-3.49
2.5 stars 2.50-2.99
2 stars 2.00-2.49
1.5 stars 1.50-1.99
1 star 0-1.49

BBB Customer Review Rating plus BBB Rating is not a guarantee of a business' reliability or performance, and BBB recommends that consumers consider a business' BBB Rating and Customer Review Rating in addition to all other available information about the business. If the BBB Rating is NR then only Customer Reviews are used for the Star Rating.