Consumer reviews and reports on scam companies, bad products and services
Tristar Financial
Tristar Financial LLC Loan Scam-promises personal loan with payment for credit insurance-promised refund if loan not placed-refusal to refund-appears
26th of May, 2011 by User974514
Tristar holds itself out as a specialist in placing personal loans for people with less than stellar credit. They operate primarily on line. These guys are very slick. Before dealing with them I ran them through the Better Business Bureau where they had an "A" rating. I also checked the Utah Consumer Protection Office and the Federal Trade Commission and I pulled their corporate registration. I had no reason not to believe they were not legit. I was fooled. Basically they offer a loan program where you pay the premium on personal loan credit insurance. Tristar sends you the loan agreement and advises that you will receive the final documents from the lender in 7-10 days. If the loan is not placed for any reason, you are promised the return of the premium payment
I paid a $1400.00 premium and the loan never materialized. I spent a month on the phone with them and was told every story in the book. Needless to say I never got a loan or refund. I filed a complaint with the BBB who now gives them an "F" rating. Apparently 5 others were taken like me and reported them. This is a particularly pernicious scheme. They were able to give themselves all the trappings of legitimacy and preyed upon people in a tough finacial spot and just ripped them off. Now the number is disconnected and the physical office has been vacated. They have vanished into thin air. I will never see my money but I want all to be aware of the Tristar name. I am sure they are operating somewhere else under another name. If any one offers a similar program to you--run away--its a scam! I hope this helps someone to avoid the pit fall that got me.

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