Alert Number: CA053489_03/16/2021
The Washington State Department of Financial Institutions (DFI) received information that Bulls Financial is representing on the internet that it provides loans, including personal loans, mortgage loans, and student loans. Bulls Financial is not licensed in Washington to provide these types of loans and may be engaged in a loan scam.
Bulls Financials appears to operate a website at [www.bullsfinancials.com] that represents that the company offers loans, including personal loans, mortgage loans, and student loans. The address listed on the website is 7695 Forbes Place, North Springfield, VA 22151. This address does not appear to exist and was unable to be verified as a valid address recognized by the United States Postal Service. Bulls Financials appears to be associated with e-mail addresses [firstname.lastname@example.org] and [email@example.com] and the following phone number 1*855*755*9977. Bulls Financials is not licensed by DFI, nor registered to conduct business in Washington State by the Department of Licensing, Department of Revenue, or the Secretary of State.
DFI warns Washington consumers that before doing business with a financial services provider the consumer should:
- Make sure that the entity is lawfully entitled to conduct business in Washington. Consumers can use the “Verify a License” feature on DFI’s website at www.dfi.wa.gov/consumers/findcompany.htm to check whether a payday or consumer loan company is licensed to conduct business in the state of Washington.
- Not provide any personal information, such as social security number or bank account number or access if the company is not licensed or authorized to conduct business.
Please note that Bulls Financials should not be confused with the following similarly named businesses:
- Bulls Financial Group. Note that Bulls Financial Group reports that it is a wealth building firm working with retirement accounts in Texas and does not give out loans.
- No Bull Financial, LLC
- Bull Run Financial Group, LLC
- Bull Run Investment Management, LLC
Important Information for Washington Consumers About Unlicensed Lenders
Washington residents only: If you suspect unlicensed activity by a payday lender or consumer loan company, please contact the Department at 1-877-RING-DFI (746-4334), or online at www.dfi.wa.gov. Even if the activity involves a loan you obtained over the internet, a license is generally still required. If a collection agency is attempting to collect a debt from you, check that the company is licensed by the state of Washington Department of Licensing.
Important Information for All Consumers
- If you received a loan from a lender and someone else is now attempting to collect the loan, the collection activity may be subject to the federal Fair Debt Collection Practices Act (FDCPA). If you are contacted by a third party claiming you owe a debt, you can request a “written validation notice,” which must provide the amount of the debt, the name of the creditor you owe, and your rights under the FDCPA. If you have questions regarding federal debt collection laws you can contact the Federal Trade Commission (FTC) at 1-877-FTC-HELP or online at www.ftc.gov.
- If you feel you have been the victim of a scam you can contact the FTC at 1-877-FTC-HELP (382-4357) or online at www.ftc.gov; or the Consumer Financial Protection Bureau (CFPB) at 1-855-411-CFPB (2372) or online at www.consumerfinance.gov.
- If the scammers already have your bank account information, social security number, or other personal information, you may be a victim of identity theft. You can contact your bank and the three major credit bureaus to take appropriate precautions. The FTC has information for victims of identity theft online at www.ftc.gov.
- If you feel you have been the victim of a scam involving the internet you can contact the Internet Crime Complaint Center online at www.ic3.gov.
- If you feel you have been the victim of a financial scam and are concerned about your personal financial information, you can contact your banking institution and the three major credit bureaus. Procedures for contacting the credit bureaus are available on the FTC’s website at www.ftc.gov.
- If you live in another state, go to this webpage to find the regulator in your home state. http://mortgage.nationwidelicensingsystem.org/consumer/Pages/AgencyContacts.aspx.