Information and Alerts
Important Information
Believed to be out of business
According to information in BBB files, it appears that this business is no longer in business.
Additional Info
On May 16th, 2018, BBB investigated Pearson Lending Group/Heritage Financial Service business practices. This investigation was prompted by a consumer email inquiry. The consumer alleges that they were approved for a $50,000 loan for a 10 year term with a loan insurance deposit of $1,950.00. Pearson Lending Group/Heritage Financial Service claims the amount will secure the loan on the consumers behalf and authorize the release of their funds immediately.
Consumer alleges that Pearson Lending Group/Heritage Financial Service offers advance fee loans. Advance fee loans are illegal in Canada and the US.
On May 16th, 2018, BBB checked Pearson Lending Group/Heritage Financial Service's website http://pearsonlendinggroup.com to determine when it was created and where it was registered. The website was created on May 14th, 2018 and is registered in Panama.
On May 16th, 2018, BBB contacted Manulife Real Estate, as they are the Property Management Company for 55 Metcalfe Street. BBB can confirm that Pearson Lending Group/Heritage Financial Service is not located at 55 Metcalfe Street, Ottawa ON K1P 6L5. BBB urges caution when choosing whether to do business with a company whose physical location is incomplete or unknown.
BBB shopped Pearson Lending Group/Heritage Financial Service posing as a potential consumer for a loan. During the online application process, the company requests your full name, address, date of birth, employment status, SIN number, & housing information. BBB has confirmed that Pearson Lending Group/Heritage Financial Service's website is not a secured/protected website.
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 Pearson Lending Group/Heritage Financial Service 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.
Additional Info
Mail sent to the business on 09/19/2019 was returned.
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