The Washington State Department of Financial Institutions (DFI) is warning consumers to verify the license of any lending professional they are considering doing business with to avoid becoming victims of potential scams.
Westpark Lending Group appears to be conducting an advance fee loan scam.
Westpark Lending Group claims to have an address of:
#2 Hoadley Place
This does not appear to be a valid address. A representative for Westpark Lending Group stated to a consumer that his name was Paul Pierce.
Neither the Washington State Department of Revenue nor the Office of the Secretary of State shows that Westpark Lending Group is authorized to do business in Washington. The company is not licensed by the Department of Financial Institutions. Westpark Lending Group does not appear to have any physical presence in Washington State.
How The Potential Scam Works
- Westpark Lending Group calls consumers stating that the consumer has been approved for a loan
- Consumers are then told that they must pay an up-front fee to cover the administrative costs and insurance for the loan
- Consumers are also asked to provide personal information such as social security number
- Consumers are directed to send cash for the up-front fee
If You Feel You're A Victim
If you feel you have been a victim of a potential advance fee loan scam, please contact the Federal Trade Commission at 1-877-FTC HELP (382-4357), or online at www.ftc.gov. Also, victims should report their experiences to the Internet Crime Complaint Center at www.ic3.gov.