Loans
Action Lending GroupAbout
Important information
- Additional Info:On March 29th, 2018, BBB investigated Action Lending Group business practices. This investigation was prompted by a negative customer review. Consumer alleges that they were approved for a loan but had to put down a security deposit of $1045.00.
Consumers have alleged that Action Lending Group offers advance fee loans. Advance fee loans are illegal in Canada and the US.
On March 29th, 2018, BBB checked Action Lending Group's website http://actionlendinggroup.com to determine when it was created and where it was registered. The website was created on February 21st, 2017 and is registered in Los Angeles, California. However, upon further investigation, as the website appears to be based in United States there are other countries involved. This site is using an anonymous service - which prevents BBB from identifying the site owner. Action Lending Group's website is in fact registered in Panama.
On March 29th, 2018, BBB confirmed with the property management company that Action Lending Group is not located at 303 Bagot Street, Kingston, ON. BBB urges caution when choosing whether to do business with a company whose physical location is unknown.
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
Tips:
- Beware of companies offering a guarantee on your loan especially if you have bad credit or no credit.
- Advertising through a recognized media outlet does not ensure that the ad was placed by a legitimate company.
- It is illegal for a company to request an upfront fee prior to obtaining a loan (insurance, administration fee, etc)
- If you are requested to wire funds through Western Union or MoneyGram, or to deposit funds in a bank account, it's most likely a scam.
Business Details
- Local BBB:
- Better Business Bureau of Greater Ottawa
- BBB File Opened:
- 21/2/2017
Additional Contact Information
- Additional Phone Numbers
- Other Phone: (888) 678-7773
Licensing information
- On March 22, 2017, BBB confirmed that Action Lending Group had not obtained a necessary license from the Financial Services Commission of Ontario, Ministry of Government and Consumer Services and the Office of the Superintendent of Financial Institutions.
Such a license is required in Ontario for businesses offering loans against "Personal Loans, Payday Loans, Car Loans, and Mortgages" under the Payday Loans Act, 2008.
BBB encourages you to contact the following agency or agencies to confirm this information:
http://loanandtrust.fsco.gov.on.ca/loantrust.aspx
https://www.consumerbeware.mgs.gov.on.ca/esearch/start.do
http://www.osfi-bsif.gc.ca/Eng/wt-ow/Pages/wwr-er.aspx?1
Industry Tip
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.