Credit/Loan Scam Reports & Reviews

Credit/Loan Scam Reports & Reviews (4)

Reported details

Type of a scam: Advance Fee Loan

Spencer & Paramount Funding is 100% a SCAM

I too believed and trusted Spencer in the beginning and signed all documents that read to be true and wired $19,500 to a company called Forward Advance LLC for a so called "Insurance Policy" in case i defaulted on the line of credit. I received a term sheet with all of he terms from a company called Cycle Holdings Inc. who then also shared a link to a login portal showing the supposed $350,000 line of credit. Spencer has blocked my phone numbers and refuses to do anything. DO NOT trust this person or these companies. I am taking legal action and i can promise you Spencer is you are reading this will you be arrested and held accountable for scamming and steeling money from business owners under false pretenses.

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Reported details

Type of a scam: Advance Fee Loan

Credit Loan Scam to Report

I am just like the gentleman listed above. I was contacted by Spencer Paysour with Paramount Funding [email protected] (646-239-9428) who identified himself as a broker with Forward Advance Group. He told me he could get me a Line of Credit for my business if I paid over $6,990.00 to have my business credit score increased. I was told that once the wire went through it would take 24-48 hours till I would receive access to the Line of Credit. Communication was like pulling teeth. He would eventually text me back or email me and explain that the underwriters are working on it and then he was in the hospital but each time was a promise that it was almost done. I have reaached out to him because you cant reach anyone else in the company, about getting my funds back. This was such a disappointment and I know its going to be tuff in the future to trust anyone. He was referred to me by Kelvin Moore someone that seeks out help for businesses that are in need of capital etc...

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- Huntersville, NC, USA

Reported details

Phone: (646) 239-9428
Address: NY, USA
Email: [email protected]
Country: United States
Total money lost: $16,000
Type of a scam: Advance Fee Loan

I was contacted by Spencer with Paramount Funding who identified himself as a broker with Forward Advance Group. He told me he could get me a Line of Credit for my business if I paid over $15,000.00 to have my business credit score increased and a specific insurance coverage. Once I paid, their communication halted. Now i can’t reach anyone about getting my funds back.

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Hi, I too was scammed by Spencer and am attempting to take legal action. Have you had any luck with any other contact numbers or addresses that i could use?

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