Darrell McGraw, West Virginia Attorney General, has successfully cracked down on a loan scam company by the name of New Balance Express. Consumers across the US were calling McGraw’s office to complain as the company listed its address as 3508 Stanton Avenue, SE, Unit 714, Charleston, WV. The problem with this is that the address is not a valid address – it doesn’t even exist!
New Balance would contact consumers after they had filled out an online loan application either on their site or on another web site that was sending New Balance their business. New Balance seemed like the end all – be all for some consumers, as they promised they could get you a loan, no matter what. What they got them was further in debt. Consumers would pay them “service” and “advance payments” at which point New Balance stopped responding to customers attempts at contacting them.
Working with another on-line company, The Go Daddy Group, McGraw was able to shut down the New Balance web site. The scam originated out of Canada, and is believed to be a small part of a much larger crime syndicate. ■
SIGN UP
