Private lender?

I noticed an ad on here by a "Paul Walters" offering private loans. I contacted Mr. Walters at his email address. He stated that I could receive a loan as long as I pay the 3.4% of the loan amount which is consider a "Capital Transfer Tax." Do any of you think this is legitimate?

I never heard of such a thing in finance, in essence what you are doing is paying a fee to secure a loan at what I would presume to be near usury interest rates. The smart thing to do is report Walters to Yahoo, at the very minimum for posting spam on this forum, and at maximum attempting to perpetrate a scam.

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http://all-aboutfinance.blogspot.com

It would depend on if he is from our country or another country. I know of a group it is called charity something and you have to pay up front. I would suggest you contact the BBB and see if they have anythig on this gentleman. I know when I have checked on companies if they do not feel they are legitimate they rank them or make notes to that effect.. I t would be nice to find out if it is true or not. Be careful. i do beleive there are people out that care but why coulld that not be take out of the loan proceeds? Best of luck

No it is not legitimate.

An email address does not make a legitimate business.

Legitimate lenders do not offer loans at APR's lower than the Federal Funds rate of 5.25%. When they do this they loose money.

Legitimate lenders also do not ask for advance payment fees to process the loan.

Only do business with legitimate businesses in your home country. There is absolutely no legal recourse against scam artists outside of the country. As small as that 3.4% fee may be, I guarantee you he will think he has won the lottery because of the exchange rate for currency in his country.

He is scam. Do your self a favor a do not respond to him. He scammed me out of 500 dollars. I thought he was legit, and he is nothing but a fraud.

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　　Property Investment 　　Profitable Investments 　　Private Investment 　　Private Equity 　　Private Capital 　　Personal Investment 　　Pension Fund 　　Pecunix

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