I applied for a loan through Capital Finance Services, after being given the name from a member of my bank (TD Canada Trust - Kentville). I was approved for a $10, 000.00 secured loan. They sent me the loan documents which I read thoroughly and all sounded legitimate, so I signed and faxed the signed documents and attatched the requested information. I then made my security payment through money transfer through Canada Post. I was told I would expect my monies within 24-48 hours.
This time passed and I contacted Dave Vendor Senior Financial Advisor for Capital Finance Services, who was the person I had been dealing with thus far. He then told me that once the loan is approved and the security payment has been made, that the file goes to customer service.
I then contacted Customer Service and this is when the running aroung began. I was told that there was a problem with my file, that was, there was a credit inquiry on my credit report, and untill that cleared they could not transfer my monies.
I contacted Equifax, and discovered that my application for overdraft protection on my bank account was still showing. Equifax did however ensure me that this was normal, and it should clear off my account within 10 business days.
Finally, after many emails and calls to the Customer Service Department, I was told on December 17th, that the inquiry had cleared and my loan was scheduled to be transferred on December 21st.
December 21st, came and went and there were no monies in my account. I tried to contact them my phone and email all day December 24th, and then again December 27th.
On December 28th, when I called the number, it was a recording telling me that the number had been disconnected, and the Better Business Bureau, whom I had filed a complaint with, said the mail they tried to send to them came back to them as UNDELIVERABLE.
So please be advised NOT to deal with this company, not that you can at this point, as they have taken our money and are probably long gone. But please be careful, I thought I did all the necessary research, and talked to the organizations I felt would be able to tell me whether this company was legitimate or not, and I didn't come up with any negative feedback. However they are obviously criminals and are only interested in stealing money from innocent people who are only trying to better their financial situation.
New Minas, Nova Scotia