Legal Question in Consumer Law in New York

I have a contract that was sent to me in regards to a loan. My issue is I do not know if the company is legit. I have their website, supposed address, and toll free phone number. They are not on the BBB site which I know does not necessarily mean anything. I do not want to get scammed and I think what they are saying sounds fishy. They are saying:

COLLATERAL PAYMENT The borrower is required to make 5 monthly payments in the amount of $190.11 USD totaling the sum of $950.55 USD. The entire sum of this collateral payment will be applied directly to the principal of this loan and will not act as a fee in any way, in accordance to the laws of Connecticut.

That doesn't sound right to me but I am hoping they are legit.

I have looked up the business -Northpoint Financial Services - the address their website gives is

Northpoint Financial Services

11 Asylum Street, Hartford, CT 06103

This is an office building but I can't connect it to them.

The toll free number they give is

Ph: 1-877-849-1110

Fax: 1-860-838-4761

I could not connect any of it.

Thanks


Asked on 7/28/11, 3:15 pm

1 Answer from Attorneys
SHAHRIAR KASHANIAN LAW OFFICES OF SHAHRIAR KASHANIAN, ESQ.,

I believe you have answered your own question. If it sounds too good to be true................

Read more
Answered on 7/28/11, 3:34 pm


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