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Simpson Financial Services, Inc.

Country Canada
City Kitchener, Ontario
Address 385 Frederick St #4
Phone 1 519-744-9928

Simpson Financial Services, Inc. Reviews

  • Oct 14, 2020

On September 28, Todd Simpson made two payments to my credit cards for a debt consolidation loan. The payments totaled approx. $44,000. He also made three other payments to other cards but they were returned due to "frozen account". On October 2, we wired a 'security" payment & a "fee" as per our signed agreement totaling $9,143. After 3 attempts because Todd kept changing his bank account name & numbers, the wire was succesful. On October 13, Todd had the $44,000 payments returned or rejected, therefore my credit cards were not consolidated or paid off. Rather, Todd received his wire of $9,143 and I received $180 in return fees and no credit card consolidation.

His emotional rampage was demeaning, words were misspelled in his e-mails, he wrote emails to my contacts that were character slamming, and he was very on top of making sure the wire went through. I have several emails that are in ALL CAPS. He wanted all money via wire NOW. He did a BAIT and SWITCH.

The other part of this transaction was that he was also doing a refinance for us for $4,650,000 for an investment property. The favorable terms, and his urgency to fund, along with asking for our information (credit card statements, drivers license, tax returns, market reports, credit reports) was of the norm for a private money lender. Todd said if I got my credit score up, from 675 to 750, we would be approved for this loan. Now to think about it, he did a bait and switch as the refinance was our first interaction, and then he made it about debt consolidation. He asked several of times for the loan origination fee to be wired to his checking account, but we refused as all transcations go through title/escrow. At the deadline, Todd demanded we pay $10,000 cash via wire or the refinance would not occur.

  • Oct 4, 2020

Todd Simpson of Simpson Financial Services represented that he could fund real estate investment deals. He provided good terms for a deal my partner and I were needing to have completed in less than 15 days. Said he need $2500 to cover appraisals and loan fees. We paid the $2500 and he never provided the services or the funding after keeping us on the hook swearing that he would provide the funding. Ended up losing the deal and a earnest money deposit of $10K+. He only got on the phone once more after the $2500 was paid. Would send a text or email every couple of days saying he was "working" on the funding. Never scheduled the appraisal and did not return any of the $2500.

As a matter of fact, during the process, he switched the approach saying the appraisal wasn't needed and his funds would be provided based on credit scores. He then asked for money to be provided to him and he would pay off the debt and include in the loan amount. Did not fall for that and simply paid off the debt directly. And when that was done instead, he said his wife got COVID and he needed extra time to take care of his wife.

This guy is a scam artist. I have asked him to return not only the $2500 that was paid to him but to cover the earnest money that was lost in the deal falling through. Of course, have not heard back from him.

Do not do business with Simpson Financial Service or Todd Smimpson who is the "name" behind the business but suspect that is just is business or American name since he has an Indian accent.

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