Baywood Financial Services

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Fell For The Scam
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The company Baywood Financial was listed in the Dailypress for offering personal loans. However not knowing at the time they were scam artist I applied for the loan and was approved for $8000.00;$400.00 Monthly payments. The manager name was [snip] according to them. They stated I needed to send a Western Union for collateral. I did so by sending the first one for $500.00 They claimed the loan had issues and requested more. I sent another $500.00 ; And they stated once they receive this amount, the loan would be approved and wired to my checking account within 10 days. As the time went by I never received the funds. I called the company; they had shut down quickly; the phone number was no longer in service. I never could get in contact with them. I reported the scam but they could find out anything either; but they new it was a scam. Being so desperate at the time and facing homelessness;I didn't have a choice. This so called company was working out of Toronto, Canada as well. But I learned my lesson.

I should have know it was too good to be true. I never received the funds and they could never be tracked down. The people talked and seemed so sincere on the phone; but that's how they get in a persons mind.
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User Replies:
clutzycook on 08/31/2010:
No reputible company will ask you to wire money in order for you to get money in return. I'm sorry you had to find this out the hard way. You might try filing a complaint with the Attorney General in your state. I can't guarantee you'll get your money back but in the event these losers are ever caught, there will be a paper trail...
Slimjim on 08/31/2010:
I can only hope people research and see yours and others' stories first before sending any money to a Canadian outfit running these scams.. Advance fee scams were made illegal in the US around the mid 90s. The few persistent outfits that still wanted to run it fled to Canada. I have never heard of even one loan company from up north that charges advance fees to be legitimate.
Anonymous on 08/31/2010:
Here's a link to some good information on US/Canada efforts to stop these and other types of fraudulent businesses, as well as where you can file complaints about your experience:
No name on 06/24/2013:
I saw the same adin the Tampa Bay Times and person who I spoke with was quit and in a hurry, came back in few minutes to tell me I was approved. I was asked for my bank information and 450 for ins for the loan. This did not seem right. Told female need to check them out first. She said they are in NY and have been in busisness for six years. Told me to do what I need to do and hung up. This is fraud all day long.
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