What if a business says they are private, which is the reason why they can't be found. What do you all think?

Question:

I just recently applied for a loan and was approved and let me tell you that my credit is shall I say less than perfect. The company is really bizarre though. First I tried looking up their business online and couldn't find it anywhere. Even calling the BBB in Canada I wasn't able to track this number down. When I called the company today, the representative kept asking for assistance when I asked specific questions since I was skeptical. He asked other employees for advice and asked me to put down a collateral payment of $1000 down for the loan and he needed it right away. I tried looking the address down that he gave me but nowhere was it to be found online. When I asked the gentleman about it, he says that their business is private which is why I couldn't locate it anywhere on the web. Please tell me what you all think as I need some advice because I do not want to send personal information and all this money to a company I know nothing about. Thank you all kindly.:-)

Answer:
There are NO reputable banks or other lenders that ask for a payment up front when you get a loan. NONE.

You should also never do business with anyone you find on the internet that do not have a provable physical presence anywhere.

There are multiple reasons here for you to RUN RUN RUN away.

Ok first clue, if you need a loan why are you paying money? They don't have to be part of the bbb. But it sounds funny to me, how did you find out about them?

I'd be VERY careful!!!. That doesn't sound right at all. There's something fishy going on there.

What's even worse, your name might get involved in some kind of illegal business and you might end up having problems with the law.

Don't do it, it's dangerous. My honest advice.
.
.

What if a business says they are private, which is the reason why they can't be found. What do you all think?

Hot Topic