Has anyone ever heard of Previa Financial group?

Question

I got a call today about a loan application I had put in for them. But they want a collateral before they put the money in my account. I checked the internet and i found there website, but I don't see anything bad about them. Has anyone ever heard of putting up collateral first? The reason we were told we had to was because our credit is below average.

Answer 1

It's not uncommon for financial institutes to require some form of collateral if your credit rating isn't great, however it depends on what type of collateral they are requiring to know if there's something shady going on.