Impersonation of Consumer Loan Company Licensed in Washington By “Lending Point” - Possible Advance Fee Loan Scam

Please Note:

"Lending Point" and "Lending Point LLC Loans Company" should not be confused with the following:

LendingPoint LLC, NMLS 1424139

• Phone: 888*969*0959
• Email: [[email protected]]
• https://www.lendingpoint.com/

The Washington State Department of Financial Institutions (DFI) has received a complaint from a Washington consumer against a company identified in documents as "Lending Point." It was reported that an individual, "Kevin Walker," claimed to represent "Lending Point." The consumer reported "Kevin Walker" offered them a $6,000 loan in exchange for paying insurance and fees upfront. The consumer reported they never received the loan promised and have not received a refund for fees paid. The allegations reported by the consumer have not been verified by the Department.

It appears that "Lending Point" and "Kevin Walker" may be engaged in an "Advance Fee Loan Scam" for appearing to require payment of an upfront or advance fee in order for the consumer to be able to obtain a loan. "Lending Point" is not licensed by the Department and is not registered to conduct business in Washington State by the Department of Licensing, the Department of Revenue, or the Secretary of State.

"Lending Point" and "Kevin Walker" may be associated with the following contact information:

Tel: 864*256*1971
[[email protected]]

DFI warns consumers to never give any nonpublic personal information, such as social security number, credit card, or bank account information to any individual, website, or company without first verifying their identity and license status. Consumers can determine whether a financial services company or individual is properly licensed to conduct business in the State of Washington by using the "Verify a License" feature on the DFI's website at www.dfi.wa.gov/consumers/findcompany.htm. Consumers can also check license status with the Department of Licensing at www.dol.wa.gov.

DFI cautions that unlicensed entities often engage in certain practices that indicate they are committing fraud or otherwise violating Washington State law. For instance, such entities often use non-business email addresses (such as [email protected], @yahoo.com, or other similar easily obtained email addresses) to send correspondence, threaten legal or criminal action if consumers do not reply immediately, or contain a variety of typographical and spelling errors in their correspondence to consumers.

However, at times, e-mails or letters from unlicensed entities engaging in fraudulent activity will contain accurate personal information, such as current or past addresses, active phone numbers, or social security numbers. DFI encourages consumers who receive communications containing personal information to contact their banks, credit-reporting agencies, and the Social Security Administration to ensure there is no unauthorized activity on their accounts.

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 (1-877-746-4334), 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 Washington State Department of Licensing.
• Make sure that the entity is licensed. Consumers can use the "Verify a License" feature on DFI's website at www.dfi.wa.gov to check whether a payday or consumer loan company is licensed to conduct business in the State of Washington.
• Do 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.

Important Information for All Consumers

• If you received a loan from a lender and someone else is now attempting to collect the loan, 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 1-877-382-4357 or online at www.ftc.gov.
• If you feel you have been the victim of a scam, you can contact the FTC at 1-877-382-4357 or online at www.ftc.gov; or the Consumer Financial Protection Bureau (CFPB) at 1-855-411-2372 or online at www.consumerfinance.gov.
• If you feel you have been the victim of a financial scam, or 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 live in another state, find the regulator in your home state.