Capital Source Financial1209 N Ashland Ave
Chicago, IL 60622
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BBB File Opened: 02/11/2008
- Henry Clarke
- Advance Fee Loan Brokers
- NAICS: Consumer Lending
Products & ServicesThe BBB would like to alert consumers that the Bureau has received complaints from consumers who allege to have been defrauded out of hundreds to of dollars in advance fees for loans. Currently pending complaints on file allege that Ridge Financial requests upfront "insurance" and "collateral" payments for loans, collects the money, but does not disburse any loan funds. Complainants allege to have contacted the entity repeatedly via phone and email but have not been able to reach the company or get their money back.
The Bureau would like consumers to be aware that per the Federal Trade Commission, it is illegal for a business to request up front fees in order to secure a loan. These fees may come in the guise of security, insurance, or other descriptions.
Additionally, consumers should be aware that the Chicago BBB has come across many incidents of interaction with so called Advance Fee Lenders. In each and every case where a consumer sent their requested fees, the Bureau knows of not a single example where the consumer received either 1) their loan funds, or 2) a refund of their advance fee.
If you are a consumer that has been victimized by this entity, please contact the Internet Crime Complaint Center -IC3- at www.ic3.gov as well as Phonebusters at www.phonebusters.com