This Business Is Not BBB Accredited

Norwood Lending Agency

Norwood Lending Agency

Norwood Lending Agency

63 Wharf St
Morgantown, WV 26501-5937
Additional Email Addresses
  • norwoodlendingagency@consultants.com
BBB File Opened: 10/09/2012
Business Category
  • Advance Fee Loan Brokers
Additional Information
  • As of October 1 ,2012 the BBB has received numerous calls regarding Norwood Lending Agency. The BBB investigation revealed that Norwood Lending charges an upfront fee in order to obtain a loan, and asks that the funds be wired via Western Union....
  • As of October 1 ,2012 the BBB has received numerous calls regarding Norwood Lending Agency. The BBB investigation revealed that Norwood Lending charges an upfront fee in order to obtain a loan, and asks that the funds be wired via Western Union.  Consumers should understand that this company offers advance fee loans which are illegal in the US and Canada.  Anytime a company asks for money up front, even if they provide a check to pay the fee, it is illegal.  BBB investigation revealed that Norwood Lending Agency does not reside at the Morgantown WV office they list.

    On October 4, 2012, Attorney General Darrell McGraw announced that his office successfully shut down a fraudster's website that was offering "advance fee" loans. Consumers reported that a group calling itself Norwood Lending Agency held itself out as a financial institution and offered "guaranteed" loans regardless of credit history. The group operated a sophisticated website and claimed to be based in Morgantown, West Virginia, using a telephone number with a 304 area code. The Attorney General’s investigation revealed that the company was actually operating in Canada, but was "spoofing" its telephone number to appear local using voice-over Internet Protocol technology. Investigators at the Consumer Protection Division located the owner of Norwood’s domain registrar, which cooperated with McGraw’s office to completely shut down the fraudulent website. Consumers are often targeted by advance-fee scams wherein fraudsters ask victims to pay cash up front to obtain loans of $1,000.00 or more. Once the fee is paid, however, consumers never receive a loan and never hear from the business again.  

F

BBB Reason for Ratings

BBB rating is based on 13 factors: Get the details about the factors considered.

Factors that affect the rating for Norwood Lending Agency include:

  • BBB concerns with the industry in which this business operates

Licensing information is provided in the BBB Business Profiles to inform the public about industries that may require professional licensing, bonding, or registration. Better Business Bureau encourages you to check with the appropriate agency to be certain any requirements are currently being met.

BBB promotes truth in advertising by contacting advertisers whose claims conflict with the BBB Code of Advertising. These claims come to our attention from our internal review of advertising, consumer complaints and competitor challenges. BBB asks advertisers to substantiate their claims, change ads to make offers more clear to consumers, and remove misleading or deceptive statements.

BBB reports on known significant government actions involving the business's marketplace conduct.

BBB reports on a company that is out of business for three years from the date the company closes its doors or ceases to do business.

BBB reports on unauthorized use of the Better Business Bureau's name and/or logo for as long as the business continues to use it in any advertising, or for one year after the business ceases any repeated unauthorized uses.

BBB reports on a business’s bankruptcy as long as the business remains in bankruptcy.

BBB reports when mail sent to the business was returned by the Postal Service.

Norwood Lending Agency

THIS BUSINESS IS NOT BBB ACCREDITED

Norwood Lending Agency

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