November 30, 2012

Maine officials warn of loan scam

A consumer in Oklahoma warned Maine officials about a supposedly Portland-based company, which offer the person a $10,000 loan.

The Associated Press

GARDINER — Maine's Bureau of Consumer Credit Protection is issuing a cease and desist order against what it calls a bogus consumer loan company falsely claiming to be located in Portland.

The state also is warning consumers about the company, Woodhaven Advisors.

A consumer in Oklahoma asked the Maine consumer protection bureau for licensing information about Woodhaven Advisors. The company had offered the consumer a $10,000 loan in exchange for four upfront monthly "collateral payments" of $200.

The bureau found no lender by the name of Woodhaven Advisors is located at a Portland address. A formal cease and desist order has been issued against Woodhaven, which isn't registered with the state to make or broker consumer loans.

Advance fee consumer loans are illegal in Maine and the rest of the states.

 

Were you interviewed for this story? If so, please fill out our accuracy form

Send question/comment to the editors




Further Discussion

Here at PressHerald.com we value our readers and are committed to growing our community by encouraging you to add to the discussion. To ensure conscientious dialogue we have implemented a strict no-bullying policy. To participate, you must follow our Terms of Use.

Questions about the article? Add them below and we’ll try to answer them or do a follow-up post as soon as we can. Technical problems? Email them to us with an exact description of the problem. Make sure to include:
  • Type of computer or mobile device your are using
  • Exact operating system and browser you are viewing the site on (TIP: You can easily determine your operating system here.)