I applied online for a "less than perfect credit" loan. I was contacted by Eliot Prior from Silverwood Finacial Services. Later, he faxrd me a contract and called me to review the contract. He told me I had to send in $1100 to process the loan due to my credit rating. I sent the funds within a week and was told I would receive the $5000 loan within 24 hrs. Instead, I received a call from a David Stanford stating that the lender was requesting another $1100 guarantee on the account to secure it. At that time, I questioned them about their validity. But due to desparation, I borrowed it and sent it. I was again told I would get my funds within 24 hrs. Each time I sent the funds, they had to be split and snet to 2 persons in Canada. RED FLAG--YES! But desparate! David called me on Friday and said the loan was approved and I would either get my funds on Saturday or Monday, due to a back up in their department that disbursed funds. Monday I called and got a voice message for David. I left a message and he called me back stating he was in a meeting. When I spoke with him, he said the lender had backed out of the deal and they were going to sue them on my behalf. Right! I told him a wanted my money back and he said the funds would be deposited back in my bank on the morning of Aug. 29. Well, today is Aug. 29 and there has been nothing deposited in my account. I have reported this to the BBB of New York and the FTC. I've heard nothing from the FTC yet, but the BBB filed a complaint and gave them 14 days to answer. They sent a second notice, but their has been no answer from Silverwood. I do not intend to let this go. I am in the process of filing a charge against them for fraud across stat lines. They caused me to be late on my mortgage payments and to have all of my property insurance cancelled for none pay. I want punitive damages!

I was lied to about a $5000 loan when all I had to do was make my first 6 mo. payments and I would received by the next business day. They told me that the lenders that was giving the loan and I would receive my money back on the 29th of this month, the same day that it would make it into their account. Every time I call them the number is disconnected. So I'm sad to say but I fear I that I will never see it again.

We tried to get a loan for 5000 also. after sending them 1500 in a deposit we were told the loan fell through. We were also told to send the money to a Pamela Denton in Canada. I found that quite fishy and questioned that many times. the company kept assuring me that was where I was to send the money. A few days later we had called to find out what was going on with our loan and we were told that the loan fell through and that if we sent another 1500 we could get a 10, 000 dollar loan. We had debated on getting this and we were also assured that since it was our fault supposedly that the original 1500 was sent to the wrong person then we had to come up with the other 1500 and come August 20th, they would have the 1500 back and take it off our payments for the 10, 000 dollar loan. Well when we called to see what was going on the second time with our loan we were told the money was sent but the Canandian government was holding it cause there was so many wire transfers and they were requiring another 3000 that we would get right back when we got our loan money. Guess what that wasn't happening cause we had already sent them so much money already. I was then told that if we came up with 1500 they would put up the other 1500but I still didn't care I wasnt sending them another dime. I told them if they were so sure about the loan then the should fork out the 3000 the canadian government was asking for. We were supposed to get our refund deposited to our account today and guess what it's not there. So we're taking it as we just aren't getting our money we could really use the money right now but I believe were just gonna have to chop it up as a loss. If I was anyone looking into doing business with this company I would not. They are just taking people's money and running from the sounds of it.

This SOBs did the same scam to us. We were looking to save our home. The ran the same line on us. The papers looked legit, and we even had our lawyer look things over. We wired them the 6months of payments, and the day the money was to be deposited to our account. "David Stafford" contacted us stated that the lender back out; but they had found another source and would require more money down.
We told them to refund our down payment. We were told that we would have our refund on the 18th(no refund so far).

I too have been duped by this company. The offer was $5k at 8% for 36 months. Paid fee of $781.90 only to have them call me the very next day and say they needed another 5 months worth of "security deposit" . Canceled the loan and requested a refund, which I was told would be issued "in accordance with the lender's billing cycle". Already filed a complaint with the FTC, NY Atty General, and the NBC 10 News Investigators. Called today to see how my refund would be issued and had to use a fake name just to get the manager to answer the phone!!! I suggest anyone who has been duped by this company to file complaints ASAP. Let's get some fire under these scam artists' butts!!!