Business ProfileforCosburn Financial Firm

After an increase in complaints received regarding predatory lending practices, Metro NY BBB began looking into consumer allegations against Cosburn Financial Firm. This company claims to be operating in Westchester County, NY. However, mail was returned by USPS as Vacant from the address (245 Saw Mill River Road, Suite 311, Hawthorne, NY  10532) provided by the company on their website at http://www.cosburnfirm.com. BBB found no record of registration of Cosburn Financial Firm with the New York Department of State's Division of Corporations. The domain for the business was registered in June 2015 for one year. 

Consumers have told BBB that this company made false promises to arrange for a loan in return for fees paid upfront. Consumers reported that they were approved for loans from Cosburn Financial Firm but then claim they were asked to “secure” the loan by paying additional fees which were payable by transfer to the company via Western Union. According to the consumer complaints, none of them received the money from the loan, or a refund of the advanced fees that were paid. In some cases, the business asked the consumer for mutliple additional payments in order to release the loan, with two consumers reportedly giving this company more than $2500. 

Metro NY BBB has made several attempts to contact this company to obtain information about their business practices, incomplete mailing address, and to correct their advertising issues, but the company has never responded to BBB's inquiries. The website for this firm is still active but one telephone number found for this business (800-862-0520) is disconnected. BBB could not locate a working telephone number for this firm.