The Washington State Department of Financial Institutions (DFI) warns consumers to verify that any company offering loan modification services is properly licensed before consumers do business with the company. DFI also urges consumers to avoid doing business with companies offering loan modification services that charge an up-front fee.
DFI received information that a company calling itself Tri-West USA may be offering loan modification services to Washington State consumers. A Washington State consumer reported that this company offered her loan modification services in exchange for an upfront fee of $6,200. Tri-West also told the consumer that she was approved for a trial payment plan when the consumer had not been approved.
The following contact information is associated with Tri-West USA:
468 N. Camden Drive
Beverley Hills, CA 90210
10866 Wilshire Blvd, Ste. 400
Los Angeles, CA 90024
Tri-West USA is not licensed by DFI to offer loan modification services, and is not authorized by the Department of Licensing to do business in Washington State. Additionally, federal rules restrict Tri-West USA’s ability to charge up-front fees for loan modification services.
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 DFI’s website at www.dfi.wa.gov.
If you are suspicious of unlicensed activity by a lender, report directly to your state regulator: find your state regulator.
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; or contact the Consumer Financial Protection Bureau (855) 411-CFPB or online at www.consumerfinance.gov. Because the scammers have access to bank account information and social security numbers, victims should consider themselves victims of identity theft and take appropriate precautions. The Federal Trade Commission has information for victims of identity theft available 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.