Brace Lending Group

This company claims to assist would be borrowers who have bad credit to obtain loans by first wiring money to Canada for insurance.

In general, these types of companies offer to make loans or to provide you with guaranteed lending sources despite little or no credit history or bad credit. Often they use names similar to those of recognized lending institutions or official-looking seals or other insignia to give the impression they are a lender. Although they neither lend you money nor provide you sources that will, they charge a fee in advance for the services they say they will perform. Their address is usually a post office box, and their paperwork does not include a telephone number. Even if the company has a published telephone number, callers often reach a only pre-recorded message, and their calls are not returned

You have the right to cancel your contract with an advance fee loan company for any reason and at any time up to five days after the date of the transaction. The contract must have attached to it a “Notice of Cancellation” form for you to use if you decide to cancel. After you cancel, you are to receive a refund of any payment you made within 15 days after the seller receives your cancellation notice.

We advise against doing business with a company that charges an advance fee for obtaining or helping you obtain a loan. Any credit services organization (a term that includes advance-fee loan companies) who charges an advance fee for such services is in violation of the law.