Washington State Department of Financial Institutions

Consumer Alert:
Kerry & Wright Lending Group

Possible Advance Fee Loan Scam

July 16, 2012

The Washington State Department of Financial Institutions (DFI) received a complaint from a consumer stating that he applied for a loan with Kerry & Wright Lending Group. As part of the loan agreement, he was required to send a collateral payment in advance. The consumer further alleged that he was instructed to make an additional collateral payment prior to receiving the funds, that he requested a refund, and that he has not received any response.

DFI’s investigation into this complaint turned up similar allegations against Kerry & Wright Lending Group reported on Internet website “scambook.com.”

Kerry & Wright Lending Group’s website, Kerry-n-wright.com, lists their address as 719 2nd Avenue, Suite 300, Seattle, WA 98104. However, this address does not appear to be the actual address for this entity. Phone calls to the number on the website, 866-947-7326, went unanswered.

Kerry & Wright Lending Group is not licensed with DFI and is not registered to do business with the Washington Secretary of State or Department of Revenue. Kerry & Wright Lending Group does not appear to be a legitimate business.

Verify Licenses

DFI strongly recommends that consumers deal only with those lenders that are properly licensed to conduct business. Consumers can determine whether lenders are properly licensed using the "Verify a License" feature on the DFI’s website at www.dfi.wa.gov/consumers/findcompany.htm.

Report Fraud

If you feel you are in immediate danger contact local law enforcement.

If you feel you have been the victim of a loan scam please contact the Federal Trade Commission at 1-877-FTC-HELP (382-4357), or online at www.ftc.gov.

If you feel you have been the victim of a loan scam involving the Internet please contact the Internet Crime Complaint Center online at www.ic3.gov.

If you feel you have been the victim of a loan scam and are concerned about your personal financial information, contact your banking institution, and the three major credit bureaus.

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