Washington State Department of Financial Institutions

Consumer Alert

"American General Financial Services" is not affiliated with American General Financial Services, Inc., a subsidiary of American International Group (AIG)

August 9, 2006

A company calling itself “American General Financial Services” advertises in local newspapers throughout the country claiming to provide mortgage, business, and personal loans. The company asks potential borrowers to provide proof of employment as well as copies of the borrower’s photo identification and social security card. The company also asks borrowers to send a substantial “deposit” in advance of receiving a loan. Borrowers are instructed to wire the deposit money to Canada. This company appears to be operating an advance fee loan scam in which borrowers pay a sizable advance fee or deposit but never receive a loan. Persons identifying themselves as Jennifer Anderson and Latoya Sinclair are associated with this apparent scam.

The company offering these advance fee loans is not affiliated with the actual American General Financial Services. The real American General Financial Services is a national consumer lender licensed in the State of Washington with hundreds of branch offices nationwide.

The company advertising these advance fee loans is apparently trying to confuse borrowers by suggesting that it is affiliated with a Seattle, Washington branch of American General Financial Services. There is a licensed branch office of American General Financial Services located at 10740 Meridian Avenue N. suite 105, Seattle, Washington. The branch office’s phone number is (206)362-4566. Letterhead sent out by the company using American General Financial Services’ name lists an address of 10740 Meridian Ave. N. Seattle, Washington, but it fails to list a suite number. It also lists a different phone number.

Consumers may wish to contact American General Financial Services directly to confirm they are dealing with the licensed company. Consumers can call American General Financial Services’ administrative office at (360) 944-5770.

Victims or anyone else with information may report their experiences to the Better Business Bureau or their state’s Attorney General Office.

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