Pine Valley Financial
Complaint 282185 Details

I applied for loans online. I received an email from Joel Coen at Pine Valley Financial on October 17, 2013 stating I had been approved and to contact him. I did via telephone, he already had all my information, I did not provide anything. He stated I needed collateral. I do not have a co-signer or car title to offer. He sent a contract (which I have a copy of) that showed I would be fully approved for $5,000 loan if I made a payment of $790 which covered the first five payments on the account. I signed the contract, faxed it back on October 18, 2013. I sent $790 to Warren Hayes, Manhattan, NY (the private lender who financed my loan) the transfer fee was $66.00 on October 18, 2013. I would told the loan would be transferred to my checking account the next business day (Monday the 21st) along with a refund of $66. Monday I then received a phone call from Gary Howell, SR Manager who stated the underwriters reviewed my loan and due to my credit I would have to make another payment of $790 which would cover the first ten payments on my account. I was very hesitant and knew it was a scam at this point. However, he stated if I did not want the loan they would issue a refund from the first payment, I stupidly sent the second $790.00. The funds were suppose to be wired into my account today and I have not received them. A follow up call was conducted with Gary Howell after the wire transfer and he assured me funds would be released to my account today. He also assured me that the underwriters could not review my loan a third time and this was guaranteed. The contract I have is pre-signed by William J. Spencer, CEO. Before I signed and returned the contract I did Google the company, their website seemed real and there were no complaints online and they were listed in the yellow pages. Unfortunately now the BBB shows they are not licensed and have them rated as an F.