[April 30, 2008 - Middle Tennessee] BBB alerts the public to the business practices of Trustpoint Lending Group of Nashville, TN, operated by Matthew Dunson.

Consumers contacting the Better Business Bureau have indicated the company is advertising via the company’s website (www.trustpointlending.com) personal, business and debt consolidation loans of approximately $10,000 in exchange for advance fee payments. Advance fees range from $980 up to $3000 and must be wired via money transfer to Timmons, Alberta Canada before the loan is granted. The company is advising consumers the advance fees are for collateral purposes. The borrower is informed the loan will be deposited 24 hours after collateral payment is received; however, complaints state once payment is made Trustpoint Lending Group informs the borrower that the private lender withdrew the loan offer. The company then promises the borrower a larger loan in exchange for another collateral payment. The Better Business Bureau has not spoken with any consumers who have received the promised loan or a refund of collateral payments made.

The Better Business Bureau has verified with the Tennessee Department of Financial Institutions that Trustpoint Lending Group is not licensed to offer loans. It is the position of the Better Business Bureau that Trustpoint Lending Group has no intentions of providing loans to consumers or businesses. If you have paid money for a loan with Trustpoint Lending Group please file a complaint by visiting our website at www.gobbb.org or by calling 615-242-4222.

BBB offers the following advice when applying for a loan:

Beware of advertisements for “advanced fee” or “guaranteed” consumer and small business loans. They are against the law! If someone guarantees or suggest they can get or arrange a loan for you they cannot ask you to pay for their service until you get the loan or credit.

Never give your social security number, bank account number or other personal information to parties you are unfamiliar with.
Check with the Better Business Bureau and the Tennessee Department of Financial Institutions BEFORE applying for a loan to ensure the company’s reliability.