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Is Bruins Capital a Loan Company?

I’ve previously written about Bruins Capital. You can see the post here.

Buried on the Bruins Capital website, they provide the answer you are looking for.

They say, “Bruins Capital is not an agent of you or any lender. Bruins Capital services are only administrative. Bruins Capital is a paid marketing lead generator.

So, no. They are not a loan company. However, consumers are confused by the marketing and mailers such companies send out.

If the attempt to confuse consumers is intentional, some might can that deceptive or a scam.

If you look at the mailers I’ve written about, you will find examples from some other apparently related companies. Click here.

The BBB has issued a press release about the business.

“In the summer of 2020, BBB® Serving Eastern Michigan and Upper Peninsula (BBB EMI & UP) warned about several inquiries we had received from consumers around the country, stating that they received a “pre-approved” debt consolidation loan offer in the mail. At that time, we had reports of offers coming from 15 different companies with P.O. Box addresses located in Michigan.

These companies included Truman Advisors, White Mountain Partners, August Funding, Barron Advisors, Graylock Advisors, Ballast Associates, Pine Advisors, Keel Associates, Clay Advisors, Pennon Partners, Corey Advisors, Lyle Advisors, Carina Advisors, Cobalt Advisors, and Saxton Associates. The problem is these businesses do not exist at these locations. We would now like to add two more companies to this list, Bruins Capital and Brice Capital.

Consumers contacted BBB when they received a mailer that resembled a high-dollar check from the “Funds Distribution Department” of these businesses. The advertisement included a personal “invitation code” with instructions to go to the company website or call a toll-free number to enter the code. The enclosed letter stated the consumer had been “pre-approved” for a high-dollar, low-interest debt consolidation loan.

Based on consumer inquiry, BBB opened an investigation into Bruins Capital in May of 2021, and their profile is still receiving over 100 views per month. It is important to also note that August Funding, Carina Advisors, Lyle Advisors, and Saxton Associates are still actively soliciting customers.

See also  Should I Avoid Alamo Associates for a Debt Consolidation Loan?

BBB also opened an investigation to Brice Capital in December of 2021. In response to consumer inquiries, BBB contacted this business on December 23, 2021, requesting information. Specifically, BBB asked if the business is physically located in Michigan, for documentation of the business’s registration with the State of Michigan, information about the services the business offers, how the business markets their services to consumers, and whether any services are fulfilled through a third-party company. The business did not respond to BBB requests.

Disclosures on the business’ website indicate the business is a paid marketing lead generator, not a lender in any transaction. A search for the website bricecapital.com in WhoIs, a database that identifies owners of domain names, indicates that the site was registered using Domains by Proxy and the registrant’s name remains private.

According to information in BBB files, this business does not have a registered name in the state of Michigan, and BBB does not have a physical address for the business. Mail sent to P.O. Box 7358, Bloomfield Hills, MI was returned marked “not deliverable as addressed.”

BBB urges caution when choosing whether to do business with a company whose physical location is unknown.

“When considering debt consolidation or debt relief companies it is extremely important to do your research,” said Melanie Duquesnel, President & CEO of BBB Serving Eastern Michigan & the Upper Peninsula. “Especially if you receive an offer in the mail, do your homework by researching the company, reading their reviews, and check with the BBB for further information.” – Source

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Steve Rhode is the Get Out of Debt Guy and has been helping good people with bad debt problems since 1994. You can learn more about Steve, here.
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