About
Important information
- Additional Info:The address being used by the company of 77 Monroe Center, Grand Rapids, MI is false. The BBB contacted the owner of the building at 77 Monroe Center and found that there is not, and has never been, a tenant by the name of Ocean Finance Credit Services.
Some paperwork provided by the company has the address spelled incorrectly and an incorrect zip code for the provided address.
The phone number provided by the company of 313-427-3252 is not a Grand Rapids number.
In addition, the company's website was registered on 2-25-15 by a privacy company in Panama. The BBB advises extreme caution be used when dealing with this company as they are using a false address in Grand Rapids and are not licensed in Michigan to provide consumer loans.
About This Business
Products and Services
After completing the on-line application form, the consumer received notification that the loan was approved, but that the consumer would need to sign the loan documents and provide a copy of valid identification, such as driver's license or other government issued ID, Social Security Card, 2 references with phone numbers, proof of employment/income, such as pay stub or letter from employer.
In addition, the company informed the consumer that the loan will only be provided if one of the following requirements are met:
1) a co-signor with a credit score of 790 or more, who is employed full time;
2) use of 2014 or 2015 vehicle paid in full, registered in consumer's name as collateral;
3) purchase loan protection for 4 years for a cost of $500
4) purchase loan protection of 2 years for a cost of $450
The BBB strongly urges against providing any personal identification information to a company with whom you are unfamiliar. In addition, it is illegal to request ANY money for ANY purpose in order to provide a loan.
Business Details
- Local BBB:
- BBB in Western Michigan
- BBB File Opened:
- 3/24/2015
Additional Contact Information
- Principal Contacts
- Mr. James Holiday, Company Contact
- Customer Contacts
- Mr. James Holiday, Company Contact
- Mr. Michael Forbes, Company Contact
- Mr. Michael Scott, Company Contact
Licensing information
- As of 3-24-15, the BBB has confirmed with the State of Michigan, Office of Financial and Insurance Services, that the company operating as Ocean Finance Credit Services is not licensed in Michigan to provide loans.
In addition, BBB heard from a consumer in Kentucky who received a loan offer from this company; the BBB contacted the Kentucky Department of Financial Institutions on 3-24-15 where we learned that the company is not licensed in Kentucky to provide loans.
More Resources
Featured Content
BBB Business Profiles may not be reproduced for sales or promotional purposes.
BBB Business Profiles are provided solely to assist you in exercising your own best judgment. BBB asks third parties who publish complaints, reviews and/or responses on this website to affirm that the information provided is accurate. However, BBB does not verify the accuracy of information provided by third parties, and does not guarantee the accuracy of any information in Business Profiles.
When considering complaint information, please take into account the company's size and volume of transactions, and understand that the nature of complaints and a firm's responses to them are often more important than the number of complaints.
BBB Business Profiles generally cover a three-year reporting period. BBB Business Profiles are subject to change at any time. If you choose to do business with this business, please let the business know that you contacted BBB for a BBB Business Profile.
As a matter of policy, BBB does not endorse any product, service or business. Businesses are under no obligation to seek BBB accreditation, and some businesses are not accredited because they have not sought BBB accreditation. BBB charges a fee for BBB Accreditation. This fee supports BBB's efforts to fulfill its mission of advancing marketplace trust.