Newmarket Financing
Personal Loan Ripoff

If you get a call for any company that requires you to pay 6 months payments in advance as a collateral, PLEASE DO NOT DO IT.

I was looking for a personal loan to add to my saving to purchase a vehicle, so I filled out some loans application online.
I got a call from 2 so called financial company. Newmarket Financing, and Brockman lending group.
I did't deal with Brockman lending group, because as soon as I talked to the guy, I knew he was a fraud when he told me that After the 6 months, they will send me back my collateral.

Then I called Newmarket Financial. (Matthew Smith ext. 350)
First:
The phone numbers were pretty much the same (1-877-576-7471 and 1-877-576-7475), and the greeting was the same, except for the company name.

Second:
They had the same story about finding a lender that will provide the loan, but I have to pay 6 months in advance as collateral and that it was good thing because I wouldn't have to pay anything till then. But Matthew didn't say anything about getting my collateral back after the 6 months.

After hearing that line, I knew it was a scam, but I wanted to make him feel comfortable. So I told him yes i will do it, so that I can get all his info.
He emailed everything to me, and as soon as I got them, I started searching.
I pulled up the buinding in CT, and got the right phone number, they didn't know about that company, then I researched the website owner, and not only they created the website under a reputable company name (1and1.com which is located in PA.) but it was created the same night that I applied for the loan.
And yes, I did call 1and1.com to make sure they didn't own this company.

Then I pulled up the Fax number he gave to me to fax the documents, and that number was in New York.

The next day he called me to discuss the plan, I confronted him with all that I had found about the company. He first tried to blame the company owner, then the IT department, then the phone company.
So I told him the only way I will go through with the deal, he would have to give me the loan first, then I will take the collateral out of the loan and send it to him.
He said he was going to speak to his manager, and he never called me back

So I decided to go to my bank and get the personal loan at a higher insterest rate, but at least I know I am not being scammed.

So please do not send money upfront... Unless you are 100% sure it's not a scam

Company: Newmarket Financing
Country: USA
State: Connecticut
City: Farmington
Address: 1051 Farmington Ave
Phone: 8775767471

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