Information and Alerts
Alert Details
This business has 1 alert.
Alert
In November 2021, BBB investigated Compass Lending Service following a consumer inquiry regarding the legitimacy of the business following a transaction in which the business had requested upfront payments in order to secure/release loan funds. In Canada and the US, it is illegal for a loan lending company to request upfront fees to secure a loan.
Below are listed findings of BBB's investigation on Compass Lending Service:
- BBB conducted a search for business registration and incorporation. Neither search produced results for Compass Lending Service. Additionally a NUANS search was conducted- the results of which indicated that the name "Compass Lending Service" was available for registration.
- A WHOIS search was performed for domain details. The results indicated that the website had only been registered and created on November 9th, 2021. Registrant information was not disclosed.
- Compass Lending Service claims to operate at address 116 Albert Street, Ottawa, ON, on their website, but in a contract supplied to BBB by the consumer, the address on the contract state 2465 St. Laurent Blvd. Ottawa, ON. BBB confirmed that the business is not located at either address. The operating location of Compass Lending Service remains unknown.
- The website does not contain a contact number for the business. However on the contract supplied, Compass Lending Service listed 1(800)-484-1882 as the contact number used by the business. When researching the number, no results were produced linking the phone numbers to a business entity.
Due to the above mentioned findings, BBB cannot confirm the legitimacy of Compass Lending Service.
BBB urges the use of caution when considering a business that requires personal information, employment information or banking information to be disclosed. We strongly encourage consumers to do their due diligence in verifying the business firsthand. Use caution when conducting business with a company who's address cannot be confirmed.
If you believe the be the victim of a scam, a report can be made on BBB Scam Tracker in order to warn others. You may also consider report the incident to the Canadian Anti- Fraud Centre.
Important Information
Believed to be out of business
According to information in BBB files, it appears that this business is no longer in business.
BBB Business Profiles may not be reproduced for sales or promotional purposes.
BBB Business Profiles are provided solely to assist you in exercising your own best judgment. BBB asks third parties who publish complaints, reviews and/or responses on this website to affirm that the information provided is accurate. However, BBB does not verify the accuracy of information provided by third parties, and does not guarantee the accuracy of any information in Business Profiles.
When considering complaint information, please take into account the company's size and volume of transactions, and understand that the nature of complaints and a firm's responses to them are often more important than the number of complaints.
BBB Business Profiles generally cover a three-year reporting period, except for customer reviews. Customer reviews posted prior to July 5, 2024, will no longer be published when they reach three years from their submission date. Customer reviews posted on/after July 5, 2024, will be published indefinitely unless otherwise voluntarily retracted by the user who submitted the content, or BBB no longer believes the review is authentic. BBB Business Profiles are subject to change at any time. If you choose to do business with this company, please let them know that you checked their record with BBB.
As a matter of policy, BBB does not endorse any product, service or business. Businesses are under no obligation to seek BBB accreditation, and some businesses are not accredited because they have not sought BBB accreditation. BBB charges a fee for BBB Accreditation. This fee supports BBB's efforts to fulfill its mission of advancing marketplace trust.