My brother came over my house today and I overheard him tell my mother that this company is going to loan him some money..( That sounds nice), BUT the catch is he had to send the company $800 to secure the loan(hahaha). I'm not a very smart person but I got a little common sense to know why in the hell would they want $800 for a $4000 loan? ( hmm is the right answer is once they get your money they will ignore you??) The company name is Fariety Financial Services, and the # is (866) 219-7414.... I did a google search and couldn't come u with anything nor the BBB has a file on them.
2006-07-06 11:22:15 · 12 answers · asked by tiannabooboo 3 in Business & Finance ➔ Personal Finance
I also checked for it on ripoffreport.com, no report on there
2006-07-06 11:25:36 · update #1
no, the type of loan was a personal loan
2006-07-06 11:26:55 · update #2
Sounds like your brother will get to be their first known victim.
2006-07-06 11:26:32 · answer #1 · answered by racingcowboy58 6 · 1⤊ 0⤋
It is not a reputable company. There are a few sights of financial information that list fariety as company that deals with the elderly that are unable to take care of their finances and they have no family. They are NOT a lending agency. You could safely assume that this company is a scam, and that if people pulled up the same info that I did, that they would think that it was a secure thing. However, you actually had to open the link to get the true answers as to what Fariety was. Please advise brother to look up on Yahoo, or ask.com before he sends his hard earned money out the door. Good Luck
2006-07-06 18:31:51 · answer #2 · answered by bustyboots 2 · 0⤊ 0⤋
Has scam written all over it. In any event, $800 divided by the $4000 principal amount is 20% right off the bat. Terrible terms. He's better off with a home-equity, or even going to a bank and borrowing against his car. Stay away from this one!
2006-07-06 18:28:37 · answer #3 · answered by jalfredprufrock 2 · 0⤊ 0⤋
sounds like a scam to me, you shouldn't have to pay $800 up front for a $4000 loan
2006-07-06 18:43:28 · answer #4 · answered by me 3 · 0⤊ 0⤋
$800 for $4000 loan! that's ripoff.
What state you are in? Check with state department of securities, most state/city is required to register business name either at state or city level.
2006-07-06 18:40:24 · answer #5 · answered by Ted 4 · 0⤊ 0⤋
Is this for a vehicle? Could be a destination charge or loan origination fee.
2006-07-06 18:25:48 · answer #6 · answered by northyankeefun 3 · 0⤊ 0⤋
That is a common scam....hope he didn't send the $800??!!
2006-07-06 18:26:35 · answer #7 · answered by 3eleven 4 · 0⤊ 0⤋
although i did not find Fariety Financial Services in http://www.ripoffreport.com/,
I did find a very similar situation that is a scam
http://www.ripoffreport.com/reports/ripoff150115.htm
2006-07-06 19:04:38 · answer #8 · answered by yeeooow 4 · 0⤊ 0⤋
If you can't even find it on the internet, then definitely stay away from it.
2006-07-06 23:16:48 · answer #9 · answered by guj1982 2 · 0⤊ 0⤋
Sounds fishy to me...tell him to stay away!
2006-07-06 18:27:18 · answer #10 · answered by Lynell S 3 · 0⤊ 0⤋