Legal Question in Consumer Law in California

Loan application

I am trying to find out if this company is legal or a scam. Here is the info:

Onix Advisors Group

401 43rd Street E

Saskatoon,SK S7K 0V5

Business License# 05-088-009-621

Federal ID#01-864290-07

THis company is located in Canada and find lenders for loans. They are offering me 10K if I provide a 10% collateral. I called the BBB, IRS and Franchise Tax Board here in US and they all said that a Fed.ID# should only be 9 digits not 10. THey could not tell me if it is a valid ID# and the company legal. How do I find out if this company is legitamate? Or if they are a scam?


Asked on 1/05/08, 2:14 pm

1 Answer from Attorneys
Robert F. Cohen Law Office of Robert F. Cohen

Re: Loan application

Maybe there's an equivalent to a Better Business Bureau in Saskatchewan. The Federal ID would be the Canadian Federal ID, not a US ID. I think it's very risky to go outside the U.S. to find a home loan, unless you had a longtime friend whom you trust who recommends it. And, if they run away with your money, it will be nearly impossible to get it back because of the jurisdictional issues. It's a big red flag to me.

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Answered on 1/06/08, 1:49 am


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