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Important information
- Additional Info:On March 1st, 2018 BBB confirmed that Middleton Financial Group is not located at 319 McRae Avenue, Ottawa Ontario, as listed on their website.
Consumers allege that Middle Financial Group offers advance fee loans. Advance fee loans are illegal in Canada and the US.
Consumers who apply online for a loan should make sure the application form is encrypted. If the form is not secure, any information transmitted on the form may be intercepted, which could result in identity theft. BBB could not find any evidence that Middle Financial Group's website is encrypted, or provides secure transmission of data.
If you believe that you have been the victim of fraud, BBB suggests that you contact the Canadian Anti-Fraud Centre. http://www.antifraudcentre.ca/
Tips:
- Beware of companies offering a guarantee on your loan especially if you have bad credit or no credit.
- Advertising through a recognized media outlet does not ensure that the ad was placed by a legitimate company.
- It is illegal for a company to request an upfront fee prior to obtaining a loan (insurance, administration fee, etc)
- If you are requested to wire funds through Western Union or MoneyGram, or to deposit funds in a bank account, it's most likely a scam.
Business Details
- Local BBB:
- Better Business Bureau of Greater Ottawa
- BBB File Opened:
- 28/2/2018
Licensing information
- On March 1st 2018, BBB confirmed that Middleton Financial Group had not obtained a necessary license from Financial Services Commission of Ontario, Ministry of Government and Consumer Services and Office of the Superintendent of Financial Institutions.
Such a license is required in Ontario for businesses offering loans against "Locked-in Pensions Plans, Personal Loans, Payday Loans, Car Loans, Mortgages" under the Payday Loans Act, 2008.
BBB encourages you to contact the agency or agencies to confirm this information:
http://loanandtrust.fsco.gov.on.ca/loantrust.aspx
https://www.consumerbeware.mgs.gov.on.ca/esearch/start.do
http://www.osfi-bsif.gc.ca/Eng/wt-ow/Pages/wwr-er.aspx?1
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