Penbrook Financial a scam, warns NE Govt
Photo by: Joshua Davis
Nebraska Govt has alerted consumers to stay away from an advance fee scam apparently running in the area. The website of the Nebraska Department of Banking and Finance (www.ndbf.org) has issued a news release (PDF File) warning consumers against applying for loans in a company calling itself Penbrook Financial Group. The company promises easy loans online to weary consumers through its website www.penbrookfinancial.com.
In its website, it makes a host of claims. It assures loans even if you have a bad credit history. It claims that it will endeavor to help you get a favorable credit rating. On top of it all, the loans will be provided at the lowest interest rates.
However, before being given any loan amount, you are asked to make four monthly payments of an amount corresponding to the loan amount you requested for. The Department quoted an instance where a borrower was asked to submit 4 installments totaling $2460 to get a loan. It issued a reminder that this practice is illegal in Nebraska as in other states.
The company had listed its address as 6910 Pacific Street, Omaha. However, officials were unable to find any trace of the company at the above address. No contact information either is given in their website. In fact, the ‘Contact Us’ tab there asks you to provide your email address and phone number so they can call you.
The government is concerned as the website is still running. It has asked people to stay away from such scams as they can lose more than their money after being involved. Such scams can steal personal information like Social Security Number and Bank Account details, collected as part of the documentation process, and use them to open illicit accounts at banks or other legitimate credit organizations.
The press release also gave away the following tips to stay away from such scams while you are out seeking loans:
- Don’t pay for the promise of a loan. It’s illegal for companies doing business in Nebraska to promise you a loan and ask you to pay for it before they deliver.
- Legitimate lenders never guarantee or say that you will receive a loan before you apply, before they have checked out your credit status, or contacted your references, especially if you have bad credit or no credit record.
- Don’t give your credit card, bank account, or Social Security number over the telephone, by fax, or via the Internet unless you are familiar with the company and know why the information is necessary.
- If you are offered a loan, don’t send money by wire transfer, or send a money order to obtain a loan. Legitimate lenders will not pressure you to wire funds or send money in advance of a loan.
- If you are not absolutely sure who you are dealing with, get the company’s number from the telephone book or from directory assistance, and call it to make sure you know with whom you are dealing. Sometimes scammers pretend to be another legitimate company. Take some time to find out if the company really does exist and whether or not it is valid and reputable.
If you have any information on the group or want to receive help, you can contact the department through their consumer hotline number, (877) 471-3445. You can also get in touch with the Federal Trade Commission at 1-877-FTC-HELP (1-877-382-4357).
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- The Fairway Lending Group Advance Fee Scam
- Greenpark Lending: US authorities raise the alarm of scam!
- Advance fee loan Scam artists can season again ,warns state officials .
May 30th, 2008 at 3:32 pm
I almost gave my money to these people but they wanted me to send the money to a lady named Erin Morris in Clayton, Alberta Canada. This sounded funny to me so I checked one more time online and post. Their telephone number is 1-877-700-6764 and the ext. I was given is 296 for a Mr. James Richardson. I am scared because I gave them my bank acct information and the routing number. I believe they also have my social security number. If there is anything you can do for me please let me know. Thank you…Jessica Walker
May 31st, 2008 at 4:50 am
@ Jessica…
Get your account freezed ASAP and turn whatever info you have of the scammers to the authorities at the numbers listed at the end of the post.
Best Wishes!
June 2nd, 2008 at 4:16 pm
i recieved a phone call from this company june 2, 2008 after applying for a loan on a search for a loan sight. they already had most of my info from the sight. he told me i was approved for a loan. all i hd to do was send them 6 payments in advance. i was weary about this so i checked for scams and found this sight. i am worried about our conversation. he knew my address and asked me to identify myself by giving the last 4 numbers of my social security to him. i did so, but that is all i gave him before i relalized it may not be an honest company. what should i do about it?
June 3rd, 2008 at 12:45 am
@ bobbi king, Jessica…
Pls follow advice mentioned here (FTC Website):
http://www.ftc.gov/bcp/edu/microsites/idtheft/consumers/compromised.html
Best Wishes!
June 10th, 2008 at 10:40 am
I have also sent this company all of my information and most of my money and I was guaranteed a refund of the money to be given to me on June the 20th, this is the first I have heard of this scam and I was wondering if anyone knows how or if I can get my money back, I am already changing my bank account number and freezing my current account.
Please reply if you have any suggestions.
June 10th, 2008 at 11:58 am
@ Michelle:
Sorry to hear your plight.
Besides what you’ve already done, you should also do what is suggested here:
http://www.ftc.gov/bcp/conline/pubs/alerts/infocompalrt.shtm
Also, filing a complaint with your local police gives you a chance to get your money back if the fraudsters are caught.
Best Wishes!
June 11th, 2008 at 4:16 pm
Yes this is one sorry company, my daughter which is chronically ill sent them all her money, hoping to get enough money to pay cobra and some other bills,after not recieving her lone this morning she called and the company told her that she was not approved and needed to send more money (she will not be doing this). I hope these people burn in hell.
June 11th, 2008 at 11:45 pm
Unfortunately, I did sent money to this particular company in questions as I was in need of help. I have a chronic health condition and had to switch job causing my to be in a considerable amount of debt and behind on my bills. My mother said that this set off all kinds of red flags and warned me not to do it, but I was so desparate to get out of the hole that I am in. Now, I can’t even afford to pay for the medicine that is very much needed for my condition. I wish I would have listened to her. I wonder if there is a way I can get any of my money back.
June 14th, 2008 at 5:21 pm
Myself and My boyfriend were just taken for 900.00 from this company I have tried to call everyone I can think of I need help, were expecting a new baby and it sounded good that we would be able to get some things paid off.. I think they have my ss# but i did not give them acct info supposed to be sent certified check help please
June 15th, 2008 at 1:07 pm
this is josh ellis great bend ks call me I got scammed by the same company 6206174350
June 19th, 2008 at 6:37 pm
Hey don’t feel bad guys, got ripped for $930.00 ha ha plus another $14.16 to wire the money. Might not get our money back but you live and learn. Best advice, get a lawyer and make sure you complain, complain to anyone and everyone who’ll listen. And please be careful next time. Good luck everyone.
June 25th, 2008 at 3:43 am
@ D S…
“…Might not get our money back but you live and learn…”
You sure have a BIG heart!
Way to Go!
My Best Wishes!
June 25th, 2008 at 12:36 pm
I’m mad as hell. I was taken for a loop too with these people. Same story all of you guys had, so now I’m really convinced I was scammed. I was suppose to receive my refund on june 21 and I have no refund and no loan. This is so much crap cause now trying to come out of a hole I’ve dug myself furthur in it and I’m not very happy of course. I was taken for $1178.00 in which I was saving for a trip in Louisiana. Hell, I gave them all my info but for some reason thats not whats bothering me what is is that I have two kids and hella bills to pay and now im broke because people have no conscience and want to scam hard working people. Damn with lesson learned, I want my money back and I want them people served.
June 25th, 2008 at 12:40 pm
So now I have to deal with the fact that someone is living lavish off our money and I can’t get my part back. When my kids need things and my bills need to be paid. Somethings has to be done, there has to be something that can be done. I work hard for my money as I’m sure all of you have so don’t say don’t feel bad cause I feel like shit. I got excited thinking I was finally gonna be able to put my kids into a house now I can’t even look them in the eye because i know I just messed up their money.
August 27th, 2008 at 3:58 am
Scamming is a usual topic today. Many fraud lenders are doing this kind of illegal actions. They are taking advantage of asking a high amount of money from their victims.
Other loan companies which truly don’t have the same motive, are also affected by this false act.
Thanks for giving me a chance to express my opinion about this topic.