Business ProfileforLendworks Credit
Current Alerts For This Business
On January 2, 2020, BBB investigated the business practices of Lendworks Credit. The investigation was prompted by a BBB scam tracker report alleging that Lendworks Credit requests money up front in order to secure a loan. In North America, it is illegal for a company to request an upfront fee prior to obtaining a loan.
The lender was requesting collateral payment in the amount of $2,200 on an $50,000 loan due to borrower being high risk. The borrower was subject to an additional charge of $1701.89 to cover loan insurance. Following the additional payment, the borrower was contacted by a processing manager stating that the loan would be released the following day. Upon failure to receive loan funds, consumer attempted on multiple occasions to establish communication with Lendworks Credit with no success.
On January 2, 2020, BBB confirmed, with Property Management (District Realty), that Lendworks Credit is not located at 1430 Prince of Whales Drive, Ottawa, ON. BBB urges caution when choosing whether to do business with a company whose physical location is unknown.
BBB attempted to contact Lendworks Credit at 866-989-8633. BBB was not able to reach the company by phone, or leave a message as number is disconnected.
Based on the information detailed above, BBB cannot confirm the legitimacy of Lendworks Credit.
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/
BBB offers the following advice when applying for a loan:
Avoid guarantees of a loan as legitimate lenders never guarantee a loan in advance
Do not send funds of any kind in advance to secure a loan.
Don't be fooled by official-looking loan documents and sophisticated looking websites as they are easy to reproduce. Just because a business appears legitimate, doesn't mean that it is.
Read your contract carefully and make sure you fully understand all terms and requirements.
Always verify the company's address. BBB advises against doing business with any company that cannot provide you with an address that can be confirmed as legitimate.
Do your research and check out the company's BBB Business Profile at www.bbb.org
Business Categories
Advance Fee Brokers
On January 2,2020 BBB investigated the business practices of Lendworks Credit. The investigation was prompted by a consumer (Scam tracker) complaint alleging that Lendworks Credit requested money up front in order to secure a loan without contract. In North America, it is illegal for a company to request an upfront fee prior to obtaining a loan.
Consumer applied and was approved for a $50,000 dollar loan based on the agreement that $2,200 was required as a security fee payment based on consumers poor credit rating. Following the fee payment, a financial representative from Lendworks Credit informed the consumer that an additional $1701.89 was required to cover loan insurance. The consumer proceeded to pay the additional fee payment via e-transfer was was notified by email that the loan would be released the following day. Consumer has not been able to establish further contact with Lendworks Credit, and no loan funds have been released or a refund of fees paid forward issued to consumer.
BBB contacted the commercial property management, District Realty, to confirm if Lendworks Credit was operating out of 1430 Prince Of Whales Drive, Ottawa, Ontario. BBB was informed by District Realty that Lendworks Credit is not, nor has been a tenant at the stated address BBB urges caution when choosing whether to do business with a company whose physical location is unknown.
BBB attempted to contact the company at 1-866-989-8633 on January 2, 2020 to inquire about a loan. The company could not be reached and the call did not go through as phone service provider automated standard message indicated the number is not in service.
Based on the information detailed above, BBB cannot confirm the legitimacy of Lendworks Credit.
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/
BBB offers the following advice when applying for a loan:
Avoid guarantees of a loan as legitimate lenders never guarantee a loan in advance
Do not send funds of any kind in advance to secure a loan.
Don't be fooled by official-looking loan documents and sophisticated looking websites as they are easy to reproduce. Just because a business appears legitimate, doesn't mean that it is.
Read your contract carefully and make sure you fully understand all terms and requirements.
Always verify the company's address. BBB advises against doing business with any company that cannot provide you with an address that can be confirmed as legitimate.
Do your research and check out the company's BBB Business Profile at www.bbb.org
Business Categories
Advance Fee Brokers
At-a-glance
Business Details
- Location of This Business
- 1430 Prince of Wales Dr., Ottawa, ON K2C 1N5
- BBB File Opened:
- 18/9/2019
- Number of Employees:
- 1
Customer Complaints
0 Customer Complaints
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